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OxPay Financial Limited ( (SG:TVV) ) just unveiled an update.
OxPay Financial’s subsidiary OxPay SG has obtained approval from the Monetary Authority of Singapore to vary its major payment institution licence by removing e-money and account issuance services, which it had never launched following an internal strategic business review and which are not part of its current operations. The licence variation, which complies with regulatory requirements for unused authorised services, does not prevent OxPay SG from reapplying for these activities in future and is not expected to have a material impact on the group’s earnings or net tangible assets, with the company emphasizing its ongoing commitment to operational discipline, strong internal controls and regulatory compliance in its payment services business.
The most recent analyst rating on (SG:TVV) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on OxPay Financial Limited stock, see the SG:TVV Stock Forecast page.
More about OxPay Financial Limited
OxPay Financial Limited is a Singapore-incorporated payments company that operates through its subsidiaries to provide regulated payment services under the Monetary Authority of Singapore’s framework, focusing on major payment institution activities within the local financial services and payments ecosystem.
Average Trading Volume: 1,285,450
Technical Sentiment Signal: Hold
Current Market Cap: S$16.5M
For detailed information about TVV stock, go to TipRanks’ Stock Analysis page.