KUALA LUMPUR: CN Asia Corp Bhd
has proposed to ratify the diversification of the business of the group to include moneylending business.
The board proposes to seek approval for the proposed ratification from the shareholders at an extraordinary general meeting of the company to be convened.
“Currently, the group derives most of its revenue from the manufacturing business. To mitigate the group’s over-reliance on one single industry, the group is constantly looking for business opportunities to diversify its business by venturing into other revenue-generating businesses,” CN Asia said in a filing with Bursa Malaysia.
The group believes its moneylending business can facilitate and bridge the financing needs for both SMEs and non-SMEs in Malaysia.
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