Regal Secures 2nd Investment Subscription from KOJADI
Following an agreement signed in January 2017, Temasek Regal Capital Sdn Bhd (“TRC”), the wholly owned subsidiary of Regal International Group (“RIG” or the “Group”), has signed another agreement on 19 May 2017 with Koperasi Jayadiri Malaysia Berhad (“KOJADI”) where KOJADI subscribes for an additional RM 10 million worth of cumulative Redeemable Preference Shares (“RPS”) in TRC. The RPS will be issued at RM 1.00 per share with guaranteed cumulative dividend for the whole tenure of 3.5 years, by 26 May 2017.
Citing confidence in the Group and ease of cooperation as its main reasons for the second investment infusion, KOJADI is also positive about the overall growth of East Malaysia economy. Based in Kuala Lumpur and with a membership of 60,000, KOJADI is interested to extend its education and business financing products to East Malaysia to assist more needy students and budding enterprises on the other side of the South China Sea as a long term growth plan that the co-operative society is keen to embark on.
Datuk Ng Peng Hay, Chairman of KOJADI commented, “East Malaysia is a land of vast hidden potentials which KOJADI hopes to mine with RIG’s assistance and support. We believe that RIG’s established property development business in the region will be of great leverage to our expansion in the future.”
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* Leading Malaysian Co-Operative Invests In Regal International Group (12 Jan 2017)