SINGAPORE, 3 MAY 2021 – Leading financial services provider CGS-CIMB and private capital platform iSTOX announced today the issuance of a short-term debt instrument in the form of digital securities. The S$150-million (or US$112-million) multi-tranche commercial paper will be used to fund operating expenses and near-term obligations of CGS-CIMB. The first tranche of S$10 million was over-subscribed by accredited individual and corporate investors on the iSTOX platform. Investors were offered a 1% per annum interest rate over 3 months. The full S$150-million programme is being carried out using digital securities, with no traditional issuance happening alongside the digital channel.
The CGS-CIMB commercial paper is the first in a new product line of digital commercial papers by iSTOX, a multi-asset platform that also facilitates digital issuances for other private market securities, including funds, bonds and equity. Commercial papers are short-term debt issued by companies, with tenures ranging from 1 to 270 days. The commercial paper market is worth over US$1 trillion in the US and over US$950 billion in Europe. Asian companies have historically been more accustomed to raising funds through bank loans or bonds or through issuing equity, but commercial papers are gaining momentum.
Kajang, 28 April – Sunway Group, in partnership with Selangor Youth Community (SAY), and His Highness Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj, Raja Muda of Selangor, brought smiles and happiness to the 34 children from underprivileged backgrounds at Pusat Jagaan Kanak-kanak Rukaiyah Yatim dan Miskin with a variety of goodies and duit raya today.
His Highness Tengku Amir Shah, alongside Sunway Group, handed over essential groceries alongside duit raya, cookies, Vitamin C and masks to the children. The home was also gifted a laptop for the children to have access to quality education, a Sunway LINE (Learn. Innovate. Nurture. Evolve.) initiative which falls under the #SunwayforGood banner.
Kuala Lumpur, 30 April 2021 – myTukar Sdn. Bhd. (the Company), Malaysia’s fastest-growing online pre-owned car marketplace platform today announced its Q1 business updates with strong growth momentum for 2021. The Company posted a doubled year-on-year revenue and unit sales record for Q1 2021 with a positive EBITDA run rate and an expected continued profitable growth for the rest of 2021, supported by aggressive customer-centric plans in the pipeline.
Since its establishment in 2018, myTukar's network of over 2,100 registered dealers and seventeen inspection centres that are open daily have successfully transacted more than 40,000 cars worth over RM1 billion in total value. Offering a unique digital platform with a complete ecosystem to support the pre-owned car industry in Malaysia, myTukar is currently on a hyper-growth trajectory reinforced by its numerous customer-focused initiatives.
