The people at the top of our priority list were our ex-staff. We wanted to make sure they got a fair severance package.We called everyone in and met each one individually to discuss settlements that both parties would be happy with we. Our main creditors were PUNB and Nomura-Jafco. We owed them a lot of interest on the loan stocks.
PUNB had agreed to convert their loan stocks into SKALI’s shareholdings as long as we can get a new investor to come in as well. The outstanding interest would have to be paid from the capital injection by the new investor.
The other major creditor was the hardware provider and DEC partner called HTI Industries Sdn Bhd (Horizon). Another supplier was a company owned by Kamaluddin Badawi, the son of the current Prime Minister. With agreements achieved with our creditors and revenues flowing in from both Skali.com and our data centre, we were suddenly on investors’ radar screens. The main problem we had with them was their valuation of SKALI.
We then opened our doors to other parties interested in investing in SKALI, hoping to get a more attractive valuation. There were two other investors who showed some interest in us. We were deeply honoured that both Chua and Netrove had considered us because they are both highly reputable and savvy investors.
We were deeply honoured that both Chua and Netrove had considered us because they are both highly reputable and savvy investors. By the end of the year, we were on pretty good financial footing, and that’s not just from investors’ money.
Here I can learn about friendship with other and their commitment in their work and always think positive. The “GENG SKALI” work very hard and have a strenght to build their company.
2 comments:
i agree with u... overall is ok..gud luck
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