SYF inks underwriting agreement with Malacca Securities for RM62.58mil rights issue

(From left) Malacca Securities Sdn Bhd senior vice-president Tan Poh Lin, managing director Lim Chia Wei, SYF Resources executive director Datuk Sri Chee Hong Leong and Bill Tan

KUALA LUMPUR: SYF Resources Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for the underwriting of the open portion of its rights issue to raise RM62.58mil.

SYF, which has disposed of its furniture manufacturing business, will enter into the financial services industry via the acquisition of stockbroker M&A Securities in a reverse take-over (RTO) exercise.