KUALA LUMPUR: ACE-listed PUC Bhd is spending RM36 million for its e-wallet business expansion, which is expected to come online by the first half of 2018. Cheong said the RM36 million will come from the RM42 million that the company already raised, which was initially planned for the expansion of its renewable energy business. In February 2016, the group had raised RM42.65 million from a rights issue of irredeemable convertible unsecured loan stocks to fund its solar expansion. “For the last one year, we have not been able to secure any new project for our solar panel business. Therefore, we have proposed a variation use of the fund, of which we planned to utilise RM36 million for our e-wallet business.

Source: New Strait Times December 13, 2017 10:30 UTC