On June 17, The Edge Singapore (TES) asked Anthony Koh, CEO of MC Payment — which has been in the news in the past fortnight and is holding an EGM on June 30 to vote in new directors — four crucial questions pertaining to the future of the company he founded. MC Payment has four important payment licences in Singapore, Malaysia, Thailand and Indonesia, enabling the company to partake in the regional payment ecosystem. The company was listed on Catalist in February this year by way of a reverse takeover (RTO). The listed “shell” was Artivision, and on Feb 18 this year, Artivision became MC Payment. The journey to a listed company took three years. In late 2017, Artivision signed a heads of agreement with MC Payment’s vendor shareholders who were willing to sell their shares to Artivision, following an EGM where a majority of shareholders voted for the RTO.

TES: Is your plan to dilute major shareholder Ching Chiat Kwong through a placement?

Koh: No. Definitely not. I am fully aware that in his requisition for an EGM, he has placed a condition that there should be no attempt to cause a dilution of his shares prior to the EGM. I recognise that. This has placed a constraint on our normal treasury operations which is to constantly test the market for our credit and funding opportunities.

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