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QI invests RM100mil in Vasseti

PETALING JAYA: QI Ltd, which is controlled by Datuk Vijay Eswaran, has fully subscribed to the entire offer of RM100mil redeemable convertible cumulative preference shares (RCCPS) in Vasseti Bhd, Vasseti said in a statement.

Vasseti chairman Tan Sri Syed Yusof Tun Syed Nasir said the company had announced a fund-raising exercise earlier this month, offering an opportunity for high net worth investors and corporations to subscribe to the proposed RCCPS.

“Coming as a pleasant surprise today, QI group executive chairman Vijay, on behalf of the parent company QI Ltd, has decided to fully subscribe to the entire offer,” Syed Yusof announced at the launch of the 1Gbps VDT Metro E Community Broadband in Kuala Lumpur on Saturday.

“Further to the subscription, he has also decided to form a collaboration between his telecommunications unit QI Communications Ltd and our subsidiary, V Telecoms Bhd.”

Syed Yusof said QI and V Telecoms would undertake joint offering or retail of telecommunication products, including broadband, voice and IPTV in all countries where the two are present.

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