KUALA LUMPUR (Nov 4): Datuk Michael Tang Vee Mun has increased his stake in Revenue IF Bhd (KL:REVENUE), emerging as a substantial shareholder in the company after purchasing 2.263 million shares on the open market on Oct 30, 2026.

Following the acquisition, he now holds 30.33 million shares, representing a 5.012% stake in the electronic payments company, formerly known as Revenue Group Bhd.

Tang also holds a 12.211% interest in Hibiscus Petroleum Bhd (KL:HIBISCUS) through Mettiz Capital Sdn Bhd and Polo Investments Ltd.

His entry into Revenue IF comes as the company enters into two strategic partnerships to expand its payment and digital financial services business across Southeast Asia and other international markets.

The first partnership with China's WeSure focuses on developing cross-border payment and digital insurance solutions in Malaysia, Singapore, Indonesia and Thailand. The collaboration will involve integrating both companies' systems to facilitate payment processing, clearing and settlement, including insurance premium payments and claims disbursements. This will allow Revenue IF to tap into the growing digital insurance and cross-border payment markets.

The second partnership with Assets Singularity Technology Holding Limited (ATT) aims to expand Revenue IF's payment services into markets where ATT has an established presence. Both parties will also explore opportunities in overseas renminbi bond issuance, co-branded cards, digital wallets, tokenisation of merchant receivables and loyalty points, cross-border remittances, currency conversion and joint customer development.

The company has been posting losses for the last two financial years. For the nine-month period ended June 30, 2026, the company reported a net loss of RM7.49 million on RM161.87 million. It plans to change its financial year-end from Sep 30, 2026, to March 31, 2027.

Revenue IF’s share price was up 6.25% to 8.5 sen a share at noon break, valuing the company at RM51.4 million. Year-to-date the stock is up 70%.