GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2022 1&3'03."/$& #: #64*/&44 4&(.&/5 "/% (&0(3"1): (Cont’d) 1FSGPSNBODF #Z #VTJOFTT TFHNFOU (Cont’d) B 5SBOTBDUJPO 1BZNFOU "DRVJTJUJPO i51"w 4FHNFOU (Cont’d) JJ ()- FMFDUSPOJD QBZNFOU TFSWJDFT This electronic payment services business is driven by TPA arrangements with leading domestic banks in the respective markets as well as a leading China e-wallet provider which is expanding into ASEAN. The existing GHL TPA data, as shown in Table 2, comprises the following activities: a) Merchant Discount Rate (“MDR”) revenue sharing arrangements under contracts with merchants and banks in Malaysia, Thailand, and Philippines. b) Merchant Discount Rate (“MDR”) revenue generated from direct contracts with merchants. c) Domestic debit card merchant acquisition. d) E-commerce TPA (“eGHL”). e) e-wallet providers in Malaysia, Thailand and Philippines. A summary of key data relating to the electronic payment business is found in Table 2 below. 2022 transaction value processed grew 12.8% YoY to RM20.7 billion (2021 – RM18.3 billion) with the removal of lockdown restrictions at physical payment touchpoints and easing of cross border travel. 2022 TPV generated revenue of RM129.4 million, a growth of 36.1% YoY (2021 – RM95.1 million). Gross profit was up 26.4% YoY to RM42.9 million (2021 RM34.0 million). The 2022 gross profit/ TPV margin spreads was stable and up slightly from the year before at 21 basis points (2021 – 19 basis points) TPV performance over the coming quarters is expected to improve as borders continue to reopen and economic conditions approach normality. With most SOPs relaxed and businesses open, and consumers returning to retail spending will continue to generate higher TPV. However global concerns around inflation and rising interest rates could impact consumer spending and confidence in the coming quarters. 5BCMF ()- &MFDUSPOJD QBZNFOUT 51" (All stated in RM'millions unless stated otherwise) 2022 DIBOHF Transaction Payment Value 18,337.3 20,677.4 12.8% Gross Revenue 95.1 129.4 36.1% Gross Revenue/Transaction Payment Value (Note 1) 0.52% 0.63% 20.7% Gross Profit 34.0 42.9 26.4% Gross Profit/Transaction Paymennt Value (Note 1) 0.19% 0.21% 12.1% Merchant Footprint - TPA Only (Thousands) 121.9 121.9 0.0% Note 1 - Gross Revenue or Gross Profit respectively divided by the Transaction Payment Value expressed as a %. MANAGEMENT DISCUSSION AND ANALYSIS CONT’D
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