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: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Negative trend picks up speed
Sunway Malls launches retailers relief financing scheme
Moody's: Lower default rate for Apac high-yield non-financial firms
China's push for semicon self-reliance will propel tech growth, competition
UOB Malaysia prices, places out Exsim's RM323m debt notes
Mustapa: Govt to continue growing ecosystems to attract investments
Sarawak govt joins Kenanga IB, Revenue Group to vie for digital banking licence
Bank Negara, Bank Indonesia include direct investment in currency settlement
Foreign selling on Bursa surges to RM579.73mil last week
Downward pressure on ringgit continues

Stories You'll Enjoy


Vouchers