Rich Capital drops PrimePartners as continuing sponsor
PROPERTY developer Rich Capital Holdings on Thursday said PrimePartners Corporate Finance will no longer be its continuing sponsor from Nov 1.
In a bourse filing, the Catalist-listed company said the decision was made "after deliberations and for commercial reasons". It had on Oct 1 issued a written notice to terminate the agreement with PrimePartners.
Rich Capital added that it has commenced the process of selecting a new continuing sponsor and will provide an update to shareholders when one is engaged.
Separately, last month, the company said it will commission an independent review to protect its investments in joint venture Oxley Karya Indo Batam and to look into the possibility of potential breaches of regulations and listing rules.
Trading in shares of Rich Capital has been suspended since June 2019.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Simba admits exceeding spectrum limits amid failed M1 deal; parent company Tuas’ full-year profit surges 277%
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
What’s on the agenda when Xi and Trump meet in Washington
Ex-execs of CW Group, Allied Tech charged with offences linked to lawyer’s S$76 million misappropriation
