PETALING JAYA: PUC Bhd is collaborating with Chiyo Asset Management K.K. to secure institutional capital to fund the business activities and investments of PUC’s financial services arm.
In a filing with Bursa Malaysia, PUC said its wholly owned subsidiary Wealth Pursuit Sdn Bhd has entered into a memorandum of understanding (MoU) with Chiyo to cooperate, collaborate and work together to procure, arrange and provide institutional capital for Wealth Pursuit.
Chiyo will also provide necessary support and advice to Wealth Pursuit, who has partnered with Yayasan Pekerja Malaysia (Yapem) to provide micro financing to Yapem members.
The programme will see Yapem facilitating all operations to implement the deduction of salary programme for loan repayment of such micro finance.
The MoU is for a period of 12 months or until the execution of a definitive collaboration agreement, whichever comes first.
Source: The Sun Daily