NetX extends time to utilise proceeds
PETALING JAYA: Netx Holdings Bhd is proposing a 12-month extension until June 8, 2026, to utilise the balance of the proceeds raised from its private placement exercise.
In a filing with Bursa Malaysia, the technology firm had proposed the utilisation of proceeds raised from the issuance of 83.6 million new shares, which was completed on June 8, 2023.
The company had raised a total of RM3.76mil from the private placement, the bulk of the proceeds is for additional funds for its microfinancing business.
'The reintroduction of US tariffs on key imports from China has begun to disrupt global supply chains.
'As a vital part of the regional manufacturing and electronics ecosystem, Malaysia may experience downstream effects in the form of reduced export demand, tighter business margins, and potential job instability,' it added.
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