Pahang crown prince Tengku Hassanal buys stake in Nasdaq-listed Sagtec
KUALA LUMPUR: The Tengku Mahkota of Pahang Tengku Hassanal Ibrahim Alam Shah Ibni Al-Sultan Abdullah will invest US$552,500 (RM2.3 million) in Nasdaq-listed AI technology company Sagtec Global Ltd through a private placement.
Pahang's crown prince, Tengku Hassanal Ibrahim Alam Shah, has committed US$552,500 (RM2.3 million) to Nasdaq-listed AI technology firm Sagtec Global Ltd through a private placement. The investment involves purchasing 850,000 Class A ordinary shares at US$0.65 each. The deal is contingent upon certain conditions being met, such as board approval and adherence to securities laws and Nasdaq requirements.
The funds will bolster the company's financial flexibility, enabling it to invest in AI-assisted software, enterprise technology platforms, cloud infrastructure, and digital projects. Sagtec aims to expand its operations in Malaysia and other Southeast Asian markets, where the country possesses the necessary talent to develop competitive technology solutions.
Tengku Hassanal expressed confidence in Sagtec's long-term growth potential, emphasizing the importance of regional and international competition. Sagtec's chairman and CEO, Ng Chen Lok, welcomed the investment, stating that it reflects the company's vision and technology capabilities. The funds will be allocated prudently to generate sustainable revenue, strengthen customer relationships, and foster the company's recurring software and technology-services business.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
