Latest news with #SSPA
India.com
10-06-2025
- Business
- India.com
Stock Under Rs 100 In Focus Post This Acquisition Update
Stock market- File image- For Representational purpose Stock market update: The shares of One Point One Solutions Limited, a Business Process Management (BPM) and digital transformation services provider, are in focus today, i.e. June 10, after it announced the acquisition of a majority stake in an AI-powered no-code automation firm. The company claims that the strategic acquisition positions 1Point1 as a major player in India's digital transformation landscape and enhances its AI-led automation capabilities. is a deep-tech, AI-first company that specialises in intelligent process orchestration, generative AI solutions, and no-code workflow automation. Its proprietary platform improves operational efficiency across industries by empowering businesses to create, implement, and scale AI-driven workflows without the need for manual coding. 'We wish to inform you that the Company has executed a Securities Subscription and Purchase Agreement ('SSPA') to acquire a majority shares in Private Limited, a next-generation AI-powered no-code automation firm specialising in autonomous software engineering,' the company said in an exchange filing. 'With this acquisition, 1Point1 enhances its strategic focus on AI-powered transformation,' said Akshay Chhabra, Promoter & Director, 1Point1. flagship platform combines real-time data intelligence, API-first architecture, and AI-native automation to improve customer experience and business efficiency. The purchase supports 1Point1's dedication to AI-driven BPM, facilitating quick digital transformation in the fields of finance, e-commerce, logistics, healthcare, and BFSI. Following the development, the shares of the company opened slightly higher at Rs 67.0 against the previous day's closing price of Rs 66.79. However, the stock erased its early gain to trade in negative territory in afternoon trade. Meanwhile, its 52-week high and low values were Rs 77.50 and Rs 41.01. Equity benchmark indices Sensex and Nifty opened trading on a positive note on Tuesday, buoyed by gains in Asian markets, optimism over US-China trade talks and foreign capital inflows. The 30-share BSE Sensex rose 235.58 points to 82,680.79. The 50-share NSE Nifty rose 96.1 points to 25,199.30.
Business Upturn
07-06-2025
- Business
- Business Upturn
One Point to acquire majority stake in TECHSCIENT.AI for Rs 26 crore
By Aman Shukla Published on June 7, 2025, 14:03 IST One Point One Solutions Limited has announced the acquisition of a majority stake in Private Limited. The deal was approved by the Board of Directors on June 7, 2025, and involves the execution of a Securities Subscription and Purchase Agreement (SSPA) between the two companies and the shareholders of The acquisition will be completed in one or more tranches, subject to conditions outlined in the agreement. incorporated in September 2024, is an Indian company based in Bangalore. It operates in the artificial intelligence software sector, focusing on no-code automation and intelligent workflow orchestration. The company's platform combines generative AI, machine learning, and no-code development tools to simplify the automation of business processes. Its solutions are designed for domestic and international markets. The acquisition is not classified as a related-party transaction, and none of One Point One's promoter groups have any interest in The total consideration for the deal stands at ₹26 crore, including ₹15 crore for acquiring equity shares and ₹11 crore for subscribing to compulsorily convertible preference shares. On completion, One Point One will hold a 60.05% stake in on a fully diluted basis. This strategic move is intended to support One Point One's long-term digital transformation strategy. While operates in a different domain from the company's core business process management services, the acquisition is expected to enhance its capabilities in delivering AI-powered digital solutions and improve operational efficiency. The transaction is anticipated to close by September 30, 2025. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Free Malaysia Today
24-05-2025
- Business
- Free Malaysia Today
Cuepacs proposes hybrid system for withdrawal of retirement savings
Yesterday, the director-general of public service stated support for retaining the monthly pension payments, citing cases of pensioners falling victim to scams as a key concern. PETALING JAYA : The umbrella body for civil service unions has proposed a hybrid system where part of the retirement savings can be withdrawn upfront, while the remainder is paid monthly. The proposal by Cuepacs president Adnan Mat follows a suggestion by another association for civil servants, Persatuan Pesara Kerajaan dan Swasta (Pejasama), that pensioners under the public service remuneration system (SSPA) be given the option of receiving their pension either as monthly payments or a lump sum upon retirement. Its president, Azih Muda, said such flexibility was necessary as some retirees might prefer access to a large sum of money to make significant purchases after completing their service, in response to the proposed reforms to the SSPA, which is expected to retain the monthly pension payment model. Adnan agreed with Pejasama's proposal. 'These options would help preserve long-term financial security while offering flexibility based on the needs and preferences of civil servants,' he said in a statement. Yesterday, public service director-general Wan Ahmad Dahlan Abdul Aziz described the proposal as a proactive move, citing cases of pensioners falling victim to scams as a key concern, along with the need to manage retirement savings more efficiently. Today, Adnan said Cuepacs supported the public services department's proposal to maintain monthly payments for civil servants under the SSPA. He described the move as a positive step towards ensuring income stability after retirement, despite civil servants no longer being part of the conventional pension model. 'Any new mechanism must be based on the principle of 'no lesser benefits' compared to the current pension scheme to ensure retirees' welfare remains protected.' While reaffirming that the existing pension scheme remains the best system to guarantee long-term welfare, Cuepacs acknowledged that the government's fiscal constraints make it difficult to sustain the traditional model for future appointments. Cuepacs also noted that some civil servants may prefer a lump-sum payment similar to the EPF system, but argued that monthly disbursements are more structured, secure and reduce the risk of financial mismanagement.
The Star
23-05-2025
- Business
- The Star
PM Anwar defends MACC chief's extension, highlights anti-corruption efforts
JOHOR BARU: Prime Minister Datuk Seri Anwar Ibrahim has defended the extension of the Malaysian Anti-Corruption Commission (MACC) chief, stating that under his leadership, the agency has been bold in taking action against influential figures involved in corruption. He emphasized that Tan Sri Azam Baki should be given the space to pursue Tuns, Tan Sri, and Datuk Seri who have plundered the country. "The MACC is now daring and going after the taukehs involved in billions in corruption. Those who steal from the country should return it to the people," he said at the launch of the National PKR Congress here on Friday (May 23). Anwar assured that a replacement for Azam would be found in due course. During his hour-long speech, Anwar also emphasized his government's commitment to the rule of law. "I believe in the independence of the judiciary and the appointment of judges," he said, adding that he has not interfered with judicial decisions, unlike past practices where judges acted at the whims of the executive. He touched on various issues, including the economy and tariff negotiations with the United States. Anwar also highlighted numerous welfare programmes, including cash handouts totaling RM13bil to nine million Malaysians. "We are spending RM10bil for civil servants under the Public Service Remuneration System (SSPA) and next year the figure will increase to RM18bil," he said, adding that RM1.3bil was spent to assist individuals with disabilities. He also addressed the power-sharing formula between Pakatan Harapan, Barisan, and parties from Sabah and Sarawak. "We need political stability to get more investments and create more jobs," he stressed. More to come
The Star
19-05-2025
- General
- The Star
1,319 army recruits to enjoy revised salary scheme
In order: Jen Muhammad Hafizuddeain (back, in red beret) inspecting the Passing Out Parade for Young Male Soldiers Series 202/2024 in Port Dickson. — Bernama PORT DICKSON: A total of 1,319 young army recruits who just completed their basic training are the first group to fully benefit from the revised salary scheme under the Public Service Remuneration System (SSPA). Army Chief Jen Tan Sri Muhammad Hafizuddeain Jantan said the recruits will receive a starting salary ranging from RM1,710 to RM1,930, depending on their academic qualifications, compared to RM1,610 during their training period. 'Previously, (under the Malaysian Remuneration System), their pay was RM1,459. This batch is the first to enjoy the new rates, where diploma holders will earn more than those with Sijil Pelajaran Malaysia (SPM). 'I hope this will encourage more participation from the community, especially diploma holders, to join the army,' he told reporters after the Passing Out Parade for Young Male Soldiers Series 202/2024 here. For this intake, Sarawak recorded the highest number of recruits with 243 individuals. By ethnicity, Malays formed the majority with 1,007 individuals, followed by Bumiputra from Sabah and Sarawak (364), Indians (18), Chinese (five) and Orang Asli (four). Muhammad Hafizuddeain said the army continues to carry out various efforts to boost participation from other ethnic groups, including organising exhibitions and career talks at vernacular schools and engaging Territorial Army Committee members in every state to promote participation among non-Malays. He noted that economic factors may be the main reason for the lack of interest among youth in joining the armed forces, and expressed hope that the implementation of the SSPA would help attract more of them, particularly from non-Malay backgrounds. 'We do not face many issues in Sabah. What we need is more participation from Peninsular Malaysia. I hope the National Service Training Programme (PLKN) will help encourage more youths to consider the armed forces as a career path,' he said.
