MOL Global founder Ganesh Kumar Bangah will now assume the role of executive chairman, while his post as CEO will be taken on jointly by Charles Ng Chee Chau and Preecha Praipattarakul, even as the company reports net losses. Goh Thean Eu looks more deeply at these developments.
MOL Global Inc, an e-payments company based in Malaysia, continued to face the backlash of disappointed investors as its share price plunged more than 80% from the opening price on its Nasdaq debut on Oct 9, 2014.
Little known Clixster has come to the fore of the MVNO business by merging with Enabling Asia, emerging the majority shareholder there. Karamjit Singh speaks to both CEOs.
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.
Much to his surprise, while attending an Internet conference in Oslo, DNA founder Karamjit Singh discovers many familiar challenges and obstacles faced by Scandinavian entrepreneurs.
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.