CGS-CIMB Research’s Ng has said previously that Prestariang had indicated that it planned to divest its UniMY stake. “We understand many suitors are keen on buying UniMY. We hope the sale of UniMY will happen in FY20, ” she said in a note on Dec 2,2019.
FACED with a cash flow strain on its operations, Prestariang Bhd has proposed a private placement in order to keep the business up and running.
Clearly, the information technology (IT) player is short of cash for immediate needs, considering that the bulk of the proceeds raised will go towards paying money owed to suppliers, staff costs such as salaries and EPF contributions as well as office related expenses such as rents and utilities.
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