MyEG buys stake in tech firm for RM10.4m
Supriya Surendran / theedgemarkets.com
December 20, 2017 17:31 pm +08
KUALA LUMPUR (Dec 20): My E.G. Services Bhd (MyEG) has acquired a 23.5% stake in Stampede Holdings Sdn Bhd for RM10.41 million. Stampede is a provider of a debt collection system called Volare that automates and standardises key collection process.
In a filing with Bursa Malaysia today, MyEG said its wholly-owned subsidiary MY E.G. Capital Sdn Bhd had on Dec 13 entered into agreements with Kris Uttraphan, Beng Paik A/L Chau Deng, Koomerang Ventures Inc Sdn Bhd and Stampede Holdings Sdn Bhd for the stake acquisition in Stampede.
Stampede is an investment holding company that owns Stampede Solution Sdn Bhd, Telefonix Sdn Bhd and a 100% foreign-owned company incorporated in Thailand specifically for the purpose of assuming the rights, title, benefits and obligations of Stampede Co Ltd.
MyEG shares closed up 3 sen or 1.4% at RM2.16 today, bringing a market capitalisation of RM7.7 billion.
