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10:47 AM MYT The 52.8% plunge in CN Asia s share price or RM1.31 over the past two trading days saw RM71.9mil erased from its market capitalisation. KUALA LUMPUR: CN Asia saw its share prices tumble by 52.8% over the past two trading days to a low of RM1.17 on Monday as investors grew concerned about its venture into digital banking especially the RM400mil investment which it entailed. Share price of the engineering services company hit limit-down to RM1.17 early Monday from a high of RM2.48 last Thursday (Jan 7) before the announcement was made on that day. Also last Thursday, it traded between RM2.31 and RM2.48. ....
CNAsia, Intcys Sign MoU In A Bid To Set Up Digital Bank For Women (Image: The Edge Markets) Investment holding company CNAsia Corporation has announced its intention to obtain a digital banking licence from Bank Negara Malaysia (BNM) so that it can set up a digital bank that serves specifically women. This comes following its signing of a memorandum of understanding (MoU) with Intcys Sdn Bhd to establish a consortium that provides digital banking services for women. According to a joint statement from CNAsia, women are one of the most vulnerable groups in the current Covid-19 pandemic, with many facing financial constraints due to loss of jobs and the inability to conduct businesses as usual. They are then forced to look for other sources of income. As such, the proposed Women Empowering Women (MyWeW) digital bank will focus on helping them obtain various digital banking services, including entrepreneurial financing, micro-loans, debit and credit applications, as well ....
(From left) Intcys Sdn Bhd director Wan Nurliyana Abdul Rahman, Pengerang member of Parliament and MyWEW advisor Datuk Sri Azalina Othman Said and CNAsia Corp Bhd executive director Chang Chee Ching at a memorandum of understanding signing ceremony between Intcys Sdn Bhd and CNAsia Corp Bhd, which will see the latter venturing into digital banking for women. KUALA LUMPUR: Investment holding company, CNAsia Corp Bhd, has inked a memorandum of understanding (MoU) with Intcys Sdn Bhd, a social enterprise, in its bid to apply for a digital banking licence from Bank Negara. CNAsia executive director Chang Chee Ching said the company would invest RM400mil to establish the digital banking platform, the MyWEW (Women Empowering Women) Digital Bank, to provide micro-credit facilities primarily for women. ....