GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 %*4$644*0/ "/% "/"-:4*4 0' 5)& '*/"/$*"- 3&46-54 "/% $0/%*5*0/4 (Cont’d) -JRVJEJUZ BOE $BQJUBM 3FTPVSDFT (Cont’d) (ii) An amount of RM42.3 million (2021 – RM43.3 million) was expended on capital expenditure which was mostly in respect of the Group’s purchases of EDC terminals. (iii) The Group repaid RM57.7 million of its bank borrowings and hire purchase payables in 2022 (2021 – RM36.7 million). The Group also drew-down fresh bank loans in 2022 of RM19.0 million (2021 – RM60.7 million) for working capital purposes. 5SFOET BOE &WFOUT The 2020-21 COVID-19 pandemic global impact was acutely felt by the economies of the ASEAN region but 2022 was marked by the return of consumers to the retail space as lockdown measures eased. Although COVID-19 measures were eased progressively in 2022, the emergence of new variants continued to result in some cautiousness but broadly, consumers were returning to the shops as evidenced by the higher Transaction Payment Values (TPV) captured across the group’s TPA footprint. Although restrictions were eased, consumers still opted to pay using cashless, which was favourable to our operations as consumer behaviour in faster adoption of cashless payments bodes well for our group’s TPA strategy. Certain segments of the economy were still hampered as cross border travel were not fully opened in 2022, such as outbound travel from China. The expected recovery in the tourism segment did not materialised as a result but 2023 looks promising as China has recently removed COVID-19 travel restrictions in early 2023. 1&3'03."/$& #: #64*/&44 4&(.&/5 "/% (&0(3"1): 1FSGPSNBODF #Z #VTJOFTT TFHNFOU As indicated earlier, the core business segments of the Group comprise the following:- 1) Transaction Payment Acquisition (“TPA”); 2) Shared Services; and 3) Solution Services. An analysis of the performance of all three business segments are as per below: - Revenue By Business Segment (RM’ million) 2021 14.5 116.7 Solution Services 11.0 130.5 2022 229.0 268.9 TPA Shared Services 360.2 410.4 MANAGEMENT DISCUSSION AND ANALYSIS CONT’D
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