October 10, 2017 8:15 pm JST Malaysia's Cuscapi Plans To Raise MYR79.80 Mln Via Shares, Warrants By Gho Chee Yuan Nikkei Markets KUALA LUMPUR (Oct 10) -- Malaysian software company Cuscapi said Tuesday it has inked subscription agreements with four parties in relation to a proposed issuance of 300 million shares together with 60 million warrants, that could potentially raise 79.80 million ringgit ($18.91 million).
The company has fixed the issue price at 0.25 ringgit per share while warrants will be issued at 0.08 ringgit apiece, according to an exchange filing. Proceeds raised from the exercise will be used for business expansion and working capital.
Under the agreements, Cuscapi said Ultimate Quality Success will subscribe 200 million shares with 40 million warrants, while Ong Chin Hui will buy 50 million shares and 10 million warrants. For the remaining two purchasers - Koh Kin Lip and Tan Kim Heung will each buy 25 million shares and 5 million warrants.
Upon completion, Ultimate Quality Success will hold a 28.47% stake in Cuscapi, while current major shareholder Transight Systems' shareholding will fall to 7.91% from 13.81%.
Cuscapi targets to complete the exercise in the fourth quarter of 2017, subject to Bursa Malaysia and shareholders' approval. - By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363 - Edited By Shreejay Sinha - Send Feedback to feedback@NikkeiNewsRise.com - Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
People will pump in cash to the company mean they have the confident of it's prospect. The sign is good, but I think the share price won't go high tmr, it take months to reflect. Hopefully there will be more good news in near future. :)
Seriously y’all has no idea yet? Everyone onboarded cuscapi is key personnel related to Myeg. What biz is cuscapi in? What new biz Myeg has? Do some research yourself. :)
Not fair for you buy at current price as the four parties in the announcement get at more lower price just at RM0.250.... Wait for the lower price.....
The major share are Datuk Jayakumar Panneer Selvam, he is also a substantial shareholder of Excel Force MSC Bhd, major share holder now in excel force are Asia Internet Holdings Sdn Bhd. Who is Asia Internet? Asia internet is major share holder of MYEG. I believe all of this are related.
Imformed... I been following this guy YiStock who wrote few blog on Cuscapi & agree that the REV is something BIG to them this Q3/4-2017. But I still couldn't link how Cuscapi can benefit from GST monitoring system by MyEg. I mean their POS is not the only one compatible in the market on this tracking system.
But I kind of confident that it is on a turn around mode now with the four new investor investing so much into a "dying" badly managed company like Cuscapi. Some more with Datuk Jaya (UQS) inside now, see how Eforce from a 0.040 company to now....
Form the chart view, seriously it's not good to enter with dark cloud cover yesterday & another black candle today! Perhaps we shall buy more when the price found a bottom heading for reversion.
Extra note on top of the REV & GST above. Jack Ma arrival with 1500 candidates this month might bring in something which benefit Cuscapi as I noticed his last visit on March, Cuscapi shoot up for a while. Could Cuscapi granted with any contract related to KLIA/KLIA2/KLAeropolis since the logistic hub is now confirmed at KL Aeropolis.
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secret2win
840 posts
Posted by secret2win > 2017-10-10 18:54 | Report Abuse
I don’t understand wor