Challenger Technologies Sets Up New Investment Subsidiary

Challenger Technologies has announced the set-up of a wholly-owned subsidiary, Challenge Ventures, to focus on investing in companies and businesses to complement the group’s existing business.

Challenge Ventures will be incorporated with an initial paid-up capital of $1 million, and may be injected with more capital of up to $20 million in the future if suitable investments can be identified. It aims to invest in companies to operate within Challenger’s digital ecosystem by providing support for the group’s business operations, as well as other subsidiaries within the group.

In addition, the group’s recently set up wholly-owned e-commerce marketplace portal subsidiary, Andios, together with the group’s existing end-to-end integrated marketing solutions subsidiary, inCall System, will be injected into Challenge Ventures.

More From Shares Investment:

• Sembcorp Industries’ First Power Plant In India Commences Full Operation

• Sunway Construction Group Bags RM1.6 Billion Contract

• NTPM Holdings 1Q16 Earnings Soar 85%