KUALA LUMPUR: Tricubes Bhd, which admitted that the RM50mil 1Malaysia e-mail project was a “lifeline” for the financially distressed company, had secured a RM5.3mil financing facility from a venture capital outfit and would have a rights issue to fund the project.
“We have secured an initial investment of RM5.3mil from Mavcap (the Malaysia Venture Capital Management Bhd) and the balance will be funded through equity, debt or a rights issue,” Tricubes chief executive officer Khairun Zainal Mokhtar told a media briefing yesterday.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
