PETALING JAYA: PUC Bhd shareholders yesterday approved to utilise the proceeds raised from the rights issue for the expansion of its social marketing and e-wallet platform, Presto. PUC had earlier proposed to utilise the RM42 million raised from the exercise for renewable energy business. In a filing to Bursa Malaysia, PUC said 99.98 per cent of shareholders have approved the resolution to vary the rights issue of irredeemable convertible unsecured loan stocks (ICULS) with warrants. On 2018 outlook, Cheong said the company sees better opportunities in creating more value added services to grow its businesses. "Part and parcel of expanding our e-wallet services platform is creating more value for its advertising business segment.

Source: New Strait Times December 21, 2017 10:41 UTC