Information and communications technology (ICT) service provider Theta Edge Berhad (KLSE:THETA), a 30%-owned subsidiary of Lembaga Tabung Haji, is believed to be acquiring a 70% stake in Transit Acquirer Sdn Bhd (TASB) from the Ministry of Finance Inc. (MoF Inc) for an undisclosed amount, according to people privy to the matter. TASB is a special-purpose vehicle formed by MoF Inc. in 2015 to undertake the integrated common payment system (ICPS) of all the Klang Valley public transport systems operated by Prasarana Malaysia Bhd. From my understanding, Theta Edge has been awarded the tender for the 70% stake in TASB says an executive of a company who participated in the bid, but failed.

An investor of Theta Edge also confirmed that the company has won the bid for the stake. However, the government still needs time to look at the project before making a decision on whether to continue with the divestment or not, he says. Theta Edge's public relations representative did not respond to requests for comment at press time.