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FINWIRES

Semico Capital Forms JV to Operate Family Entertainment Outlet

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Semico Capital (KLSE:SEMICO) signed a joint venture and shareholders agreement with Chan Kean Seng and Kosmare to operate a family entertainment outlet at the Pavilion Bukit Jalil Shopping Mall, according to a Wednesday Bursa Malaysia filing.

On completion, Kosmare will issues new shares, granting the family entertainment products and services provider a 49% stake for 490,000 ringgit and Chan a 51% stake for 510,000 ringgit.

The parties will further provide funding of 3 million ringgit to 4 million ringgit.

The venture is a strategic initiative to strengthen the company's core business and broaden revenue streams.

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