Axiata subsidiary merges with Cambodia cashless-payment platform

Axiata Group Bhd’s subsidiary SmartLuy PLC has merged with Cambodia cashless-payment platform Pi Pay PLC after the National Bank of Cambodia (NBC) and the Ministry of Commerce of Cambodia (MOC) approved the corporate exercise.

Mobile telecommunication network provider Axiata Group said in a Bursa Malaysia filing today notification of the successful application for the merger was received from the NBC and the MOC yesterday when the legal existence of SmartLuy ceased with the continuance of SmartLuy and Pi Pay as one entity.

“The cessation of SmartLuy will not have any material effect on the earnings or net assets of the Axiata Group for the financial year ending Dec 31, 2020.

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