In a bid to secure its standing as a leading digital entity in Southeast Asia, Catcha Digital, a Malaysia-based investment holding company, has successfully raised RM29.7 million through a Rights Issue exercise. With this recent capital boost, the firm is set to lift its Guidance Note 2 (GN2) status, a marker signaling the company’s readiness for the next phase of growth and expansion.
Catcha Digital, wholly owned by digital media company iMedia Asia, operates in the sectors of digital media, advertising, and software. The capital raised, as noted by the company’s CEO, Eric Tan, is an essential component in facilitating the company’s ambition of consolidating its place as a premier digital group in Southeast Asia.
“With the completion of this fundraising exercise, the company is in a strong position to accelerate its growth plans and realize our vision to build the leading digital group in Southeast Asia,” said Tan. He added, “Our aim is to attract the best digital and software companies to join us, thereby solidifying our position as the industry leader in Southeast Asia and creating sustainable value for all stakeholders.”
The company’s Chairman, Patrick YKin Grove, further articulated the significance of this move. “After the completion of the regularization plan and the upliftment of GN2 status, we can now devote our attention to building, growing, and scaling the company to greater heights,” he said. Grove also expressed appreciation for shareholders’ unwavering confidence and support during the execution of the regularization plan.
Moreover, as part of its expansion plans, Catcha Digital recently unveiled a new business unit, “i-Gov”. The new wing is focused on accelerating the Malaysia Digital Economy Blueprint by developing technology solutions and software for the Malaysian government and the public sector.
This news piece is based on reports from Marketing Interactive.