PETALING JAYA: International Finance Corp (IFC), the World Bank’s investment arm, has purchased new shares in Zetrix AI Bhd to the tune of US$40mil (RM156mil), which will be used to build up digital infrastructure in the country.
Zetrix said in a statement that the equity injection will be put towards the development and rollout of blockchain-based digital public infrastructure (DPI) applications and artificial intelligence aimed at enhancing digital inclusion, access to services, and economic efficiency in Malaysia and the broader Asean region.
Under the equity investment, Zetrix will be issuing 199.5 million new shares to IFC, Zetrix group managing director TS Wong told StarBiz.
This would give IFC a stake of around 2.5% in Zetrix.
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