KUALA LUMPUR (May 9): Last year marked a significant turning point for TNG Digital Sdn Bhd, the operator of Malaysia’s most widely used e-wallet. For the first time since the launch of TNG eWallet in March 2018, the company has derived half of its revenue from services beyond payments.
This was a major milestone for TNG Digital because non-payment services — which include financial services such as wealth management and insurance, and business-to-business (B2B) offerings — carry markedly better margins than the low-yield, high-volume payments business that first drove its growth.
That deliberate shift towards non-payment services helped deliver a solid financial turnaround for the company.
It made a profit after tax of RM103.23 million for the financial year ended Dec 31, 2025, reversing an after-tax loss of RM42.48 million the year before, according to its filings with the Companies Commission of Malaysia (SSM). This was achieved on revenue of RM707.28 million, which was 72% higher than the previous year’s RM411.92 million.
“Last year was the first time that we were profitable for the full year,” TNG Digital chief executive officer Alan Ni tells The Edge in an exclusive interview.
With a verified customer base of 26 million, TND Digital is, by far, the biggest e-wallet operator in Malaysia in terms of user base, he says.
In the interview, Ni talks about the company’s journey thus far and what comes next. It is working towards a listing on Bursa Malaysia, a move that could potentially make it the first fintech unicorn to debut on the bourse.
Get the full story in the May 11 issue of The Edge Malaysia.
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