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Great Eastern Holdings Limited (G07.SI)

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  • Reuters SG

    Ant's Malaysian e-wallet venture with CIMB in talks to raise $150 mln -sources

    A Malaysian e-wallet operator owned by CIMB Group and China's Ant Group is in advanced talks with investors to raise at least $150 million to fund expansion plans, four sources familiar with the matter said. The coronavirus pandemic has propelled demand for digital payment services around the world, but Malaysia's market is particularly competitive with nearly 50 players. The venture, TNG Digital Sdn Bhd, says its Touch 'n Go e-wallet is the country's biggest with more than 15 million registered users.