NetX Holdings Bhd and PUC Bhd have signed a Memorandum of Understanding to the manner in which the two companies can collaborate to jointly expand, promote and strengthen their presence in the e-commerce and financial technology (e-payment) industry.
NetX said its wholly-owned subsidiary NetX Digital Ltd has entered into a MoU with PUC's unit PUC Ventures Sdn Bhd.
Through the collaboration the company intends to invest in a micro-financing credit industry that possesses the platform and technology to potentially disrupt current conventional micro-financing credit service providers that will place the company in a pioneer position in the future.
Under the proposed strategic partnership, NetX Digital will invest a revolving amount of up to RM50 million for the initiative while PUC’s companies will process, issue and disburse approved micro-financing through an application to Presto users/subscribers.
Labels PUC
