KUALA LUMPUR (March 11): Aizo Group Bhd's (KL:AIZO) e-payment systems unit has secured a licence to provide remittance services, which it said marks the company’s entry into the regulated remittance and cross-border payment sector.

The 60%-owned unit, Uniqa (M) Sdn Bhd, obtained the business licence with one-year validity from Bank Negara Malaysia (BNM), said Aizo in a statement on Wednesday.

“The approval represents an important step in Aizo’s broader strategy to diversify into financial technology-enabled services and strengthen its participation in Malaysia’s growing digital payments and cross-border financial services ecosystem,” the company said.

Aizo, formerly known as Minetech Resources Bhd, said it intends to develop compliant and efficient remittance solutions that leverage technology-driven platforms to facilitate secure and seamless cross-border transactions.

The move reflects the company’s efforts to diversify revenue streams and capture opportunities from the rapid growth of digital payments and cross-border financial transactions in the region, said Aizo executive chairman Datuk Abang Abdillah Izzarim.

“With the regulatory framework now in place, we intend to progressively develop Uniqa’s remittance capabilities through technology platforms and strategic partnerships, while maintaining the highest standards of compliance and governance required by BNM,” he added.

Aizo acquired its 60% stake in Uniqa in 2021 for RM2.83 million from Ahmad Rahizal Ahmad Rasidi, Jamaluddin Mann, and Lui Soik Teng. Lui and Jamaluddin each retained 20% stakes.

At the time, Ahmad Rahizal was a non-independent and non-executive director of Aizo, then known as Minetech Resources. In 2024, he was redesignated as an executive director.

Aizo has been in the red for most of the past decade. For the 15 months ended June 30, 2025, the company posted a net loss of RM17.93 million on a revenue of RM157.05 million. In 2024, it changed its financial year-end from end-March to end-June.

For the six months ended Dec 31, 2025, the company logged a net loss of RM1.3 million on a revenue of RM72.17 million.

Aizo is principally involved in civil engineering and manufacturing bituminous products, has since diversified into renewable energy and re-entered property development.

Aizo’s 63%-owned unit, Wawasan Demi Sdn Bhd, is developing a 99.99MW solar plant in Kampar, Perak, while the company entered into a property development collaboration with Lestari Astana Sdn Bhd via a 51:49 joint venture.

Shares in Aizo ended unchanged at 3.5 sen, valuing the company at RM61 million.