{"id":45900,"date":"2025-08-05T16:15:11","date_gmt":"2025-08-05T16:15:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/45900\/"},"modified":"2025-08-05T16:15:11","modified_gmt":"2025-08-05T16:15:11","slug":"touch-n-go-e-wallet-operator-tng-digital-is-now-a-unicorn-worth-over-us1-bil-says-cimb-malaysia-ceo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/45900\/","title":{"rendered":"Touch ‘n Go e-Wallet operator TNG Digital is now a unicorn worth over US$1 bil, says CIMB Malaysia CEO"},"content":{"rendered":"

KUALA LUMPUR (Aug 5): TNG Digital Sdn Bhd, which operates Touch ‘n Go eWallet, has already achieved unicorn status, according to CIMB Malaysia and CIMB Bank Bhd\u2019s chief executive officer Gurdip Singh Sidhu. CIMB Group Holdings Bhd (KL:CIMB<\/a>) owns the largest stake in TNG Digital via 100%-owned unit Touch ‘n Go Sdn Bhd.<\/p>\n

While the exact valuation was not disclosed, Gurdip said TNG Digital has already qualified as a unicorn \u2014 a privately held startup worth over US$1 billion \u2014 supporting the government\u2019s aim of identifying five Malaysian unicorns by 2030.<\/p>\n

\u201cWe are very confident that TNG Digital is already qualified as a unicorn,\u201d Gurdip told reporters on the sidelines of a media panel at MyFintech Week 2025 at Sasana Kijang on Tuesday.<\/p>\n

Earlier, Finance Minister II Datuk Seri Amir Hamzah Azizan said in his keynote address at the launch of MyFintech Week 2025 that the government aims to identify five unicorns by 2030, backed by public and private capital, including the RM120 billion GEAR-uP initiative by government-linked investment companies (GLICs) and matching grants under the MyDIGITAL blueprint aimed at accelerating MSME digitalisation.<\/p>\n

TNG Digital is 45.01%-owned by Touch ‘n Go, with the balance held by Antfin Singapore Holding Pte Ltd (23%), Alipay Singapore Holdings Pte Ltd (11.62%), AIA Bhd (3%), Lazadapay Holdings Pte Ltd (11.38%) and ASP Malaysia LP (5.99%).<\/p>\n

According to Gurdip, TNG Digital has turned profitable early this year and is seeing strong upward momentum in both transaction volumes and service adoption. It now serves around 23 million verified users, covering almost the entire Malaysian adult population.<\/p>\n

\u201cAt this point, the business is growing very well. We have started making profit after a few years of the incubation period,\u201d he said.<\/p>\n

TNG Digital has narrowed its net loss to RM190 million in the financial year ended Dec 31, 2023 (FY2023) as compared to RM199.1 million in FY2022, according to data from the Companies Commission of Malaysia.<\/p>\n

Revenue jumped 62% year-on-year to RM234 million in FY2023, up from RM144.4 million in FY2022.\u00a0<\/p>\n

No immediate plans for IPO<\/p>\n

When asked about the company’s plan for listing, Gurdip said that there is no immediate plans to pursue an initial public offering (IPO) for the time being.<\/p>\n

\u201cThe question of IPO is something we will always assess, but it\u2019s not something we are rushing into,\u201d he said.<\/p>\n

Reuters reported last September, citing sources, that TNG Digital plans to go public on Bursa Malaysia in two to three years and could raise US$300 million (RM1.27 billion).<\/p>\n

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\nBNM seeks public feedback on AI adoption in financial sector<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR (Aug 5): TNG Digital Sdn Bhd, which operates Touch ‘n Go eWallet, has already achieved unicorn…\n","protected":false},"author":2,"featured_media":45901,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[2306,86,56,54,55],"class_list":["post-45900","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-mobile","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/45900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=45900"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/45900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/45901"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=45900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=45900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=45900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}