PETALING JAYA: New Hoong Fatt Holdings Bhd
(NHF), via its wholly-owned subsidiary Jhi Soon Manufacturing Industries Sdn Bhd, plans to invest up to RM20mil in a venture capital (VC) fund established by Cypress Drive Ventures Sdn Bhd.
Under a share subscription agreement signed yesterday, NHF said in a filing with Bursa Malaysia that Jhi Soon will subscribe for up to 20 million Class A redeemable preference shares in the fund at RM1 each, representing a maximum capital commitment of RM20mil.
