Nasdaq-listed MOL Global Inc, which had a dismal debut on the stock exchange, announced it would delay reporting its third quarter 2014 financial results and that its CFO had resigned, which saw its shares plunge and US law firms announcing they were investigating the company.
The payments market has ensconced players and may be facing stiff competition from deep-pocketed foreign companies eyeing the South-East Asian region, but there are still opportunities aplenty for the enterprising startup, said the two panellists at the DNA-TeAM Disrupt discussion on ‘Pay to Play.’
Nasdaq-listed MOL Global’s CEO Ganesh Kumar Bangah joins Disrupt#24 as a panelist, and Karamjit Singh is looking forward to the exchange that will happen on the topic of e-payments.
There is still hope that 2014 can be ‘Startup Malaysia Year’ and DNA founder Karamjit Singh shares his reasons why.
Having got his Nasdaq listing, albeit on a rough opening day, Ganesh Kumar Bangah now has to answer to the toughest investors in the world every 90 days. However, he believes MOL Global has all the right products and strategy.
Malaysian eyes will be on the Budget 2015 proposal being tabled on Oct 10, while a few will be wondering about MOL Global’s disappointing debut on Nasdaq – but after all, entrepreneurship sometimes is about picking yourself up from a stumble and having another go, writes DNA executive editor A. Asohan.
Fourteen years after quitting college on receiving RM2 million (US$618,000 at current rates) in funding from his main investor Malaysian billionaire Vincent Tan, Ganesh Kumar Bangah has repaid his confidence by taking his online-to-offline (O2O) payment company MOL Global Inc to a Nasdaq listing.
Dotcom pioneer MOL Global Inc, which is expected to list on the Nasdaq Global Market the first week of October, registered a solid first-half performance, seeing net profit more than double to RM11.2 million (US$3.5 million) versus RM5.1 million (US$1.6 million) in the first half of last year.
Almost 20 years after beginning his entrepreneurial journey while still a teenager, Ganesh Kumar Bangah, MOL Global Inc founder and CEO, is on the cusp of listing his company on New York’s Nasdaq market. Karamjit Singh looks through his prospectus and shares some of the key points that strike him.
IPO proceeds will be used to repay debts, among other uses No plans to pay dividends in the foreseeable future