Country Heights to hold EGM on ICO proposal


Its job scope for the contract involves supplying concrete cement and metal for the upgrading of the Train Cargo Terminal at Padang Besar, Perlis, Dolphin said in a filing with Bursa Malaysia.

PETALING JAYA: Country Heights Holdings Bhd (CHHB) will be convening an EGM on Nov 8 to give shareholders an avenue to discuss its proposal to issue its own asset-backed cryptocurrency via a proposed initial coin offering (ICO).

In a Bursa Malaysia filing, CHHB acknowledged that being the first public-listed company to head towards this new field, an EGM would help to clear the confusion among many who may not comprehend blockchain technology and the many cryptocurrencies in the world today.

CHHB would like “to seek shareholders’ support and endorsement to proceed with the appointments of reputable and the best technology partner/s and other external consultants to give back-end support to this exercise, especially in its implementation”, the filing said.

These consultants will prepare all the necessary documentation for submission and engagement with the relevant authorities for approval, if any. As there is no regulations specifically regulating this, the company would like the relevant authorities to be kept well-informed of CHHB’s initiative.

The filing said once the board has decided to proceed with the ICO, CHHB would seek shareholders’ approval and convene another general meeting for the final endorsement for the launching of the ICO, its structure, mechanism and the exchange centre which will be used.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Bullish outlook on Sunway REIT continues in 2023
Ringgit slips ahead of US interest rate decision
Construction firm Vestland makes firm debut on ACE Market
Bursa tumbles on US market decline as Fed decision looms
Trading ideas: YTL Power, PGF capital, Ajiya, Sunway REIT, Chin Teck Plantations, Uzma and TRC Synergy
PetGas’ RP2 regulated capex exceeds RM2bil
UK optimism at six-month high despite recession risk
Adani short seller has opened a Pandora’s Box
China tourism market a step closer to robust recovery
Ringgit to continue upward momentum

Others Also Read