Pertama Digital Inks Two MoUs To Secure Investment For Its Proposed Digital Bank

Pertama Digital Berhad has signed Memorandum of Understanding (MoUs) with Perfect Hexagon Commodity and Investment Bank Limited (“PHCIB”) and Alsirat Sdn Bhd (“ASB”) to secure investment for its proposed digital bank.

The two memorandum with PHCIB and ASB both aim to assist financial inclusion programmes by investing in Pertama Digital’s digital bank. Along with Pertama Digital, both investors will contribute to the digital bank’s initial capital funds.

PHCIB is fully owned by Perfect Hexagon Limited (“PHL”), a Hong Kong-based business, and is licenced as a Labuan investment bank by the Labuan Financial Services Authority.  Specialises on global trade, PHL is also a Liquidity Provider for the Hong Kong Exchanges and Clearing Limited and an Associate Participant of Bursa Malaysia Derivatives Berhad.

Meanwhile, ASB is a totally owned Bumiputera corporation which offers services such as digital evidence management, big data analytics, machine learning, artificial intelligence, and Internet of Things.

Pertama Digital’s Director of Strategy, Saify Akhtar said, “We are pleased to welcome PHCIB and ASB as investors who bring additional long-term financial strength to our digital banking consortium, further enhancing our ability to deliver the financial inclusion objectives set out in Bank Negara Malaysia’s licensing framework for digital banks.”

Additionally, PHL’s Group Director, Yap Sheng Feng, said, “PHCIB’s participation in this will be a synergistic collaboration with the consortium members, by leveraging on our experience in investment banking, treasury and asset management. With PHCIB’s global presence, Pertama Digital’s consortium can have a wider reach not just domestically but internationally as well.”

Pertama Digital will be establishing a bank with both ethical and digital cores, offering responsible financing for productive purposes, in the best interests of its customers. The consortium also intends to  boost customers’ financial literacy and improve their relationship with money.

Abdul Rashid bin Abdul Manaf, ASB Director said, “ASB has seen first-hand the need to accelerate digital inclusivity due to the nature of our business, and we have decided that Pertama Digital’s unique focus on helping financially underserved Malaysians gain access to financial services is one that we would like to align ourselves with. The potential for horizontal synergies between ourselves, Pertama Digital and the digital bank is something that we look forward to as well.”

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