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KUALA LUMPUR, June 24 -- Pertama Digital Bhd has secured two new investments from Perfect Hexagon Commodity and Investment Bank Ltd (PHCIB) and Alsirat Sdn Bhd (ASB) for its purposed digital bank.
In a statement today, Pertama Digital Bhd said both PHCIB and ASB intend to support financial inclusion initiatives by investing in the proposed digital bank via memoranda of understanding.
“Both investors will participate by contributing to the digital bank’s initial capital funds alongside Pertama Digital,” it said.
Licensed as a Labuan investment bank under the Labuan Financial Services Authority, PHCIB is wholly-owned by Hong Kong-based Perfect Hexagon Ltd (PHL), which is involved in commodity and trade finance.
Meanwhile, ASB is a wholly-owned Bumiputera company, providing digital evidence management solutions, big data analytics, machine learning, artificial intelligence and Internet of Things services.
Pertama Digital’s director of strategy Saify Akhtar said the involvement of PHCIB and ASB as investors will enhance its ability to deliver the financial inclusion objectives set out in Bank Negara Malaysia’s licensing framework for digital banks.
Meanwhile, PHL’s group director, Yap Sheng Feng said with PHCIB’s global presence, Pertama Digital’s consortium can have a wider reach domestically and internationally.
ASB director Tan Sri Abdul Rashid Abdul Manaf said the company is looking forward to the potential horizontal synergies with Pertama Digital and the digital bank.
According to Pertama Digital, the digital bank would boost financial literacy and improve the relationship between Malaysia’s financially underserved and their money.
Pertama Digital, listed on the Main Market of Bursa Malaysia, had received overwhelming shareholder approval on Aug 21, 2020 to pivot from the textile business to the technology sector.
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