Patimas To Roll Out New Product
V. Sanjutha
The Sun-10/09/01

Patimas Computers Berhad expects to roll out its managed network services by next month via associate company Cordoda Corporation Sdn Bhd.

This project backed by venture capitalist, Merill Lynch Global Emerging Market Partners (MLGEMP), a part of Merill Lynch & Co. Inc.

Patimas Bhd holds a 40percent equity interest in Cordoda, while MLGEMP holds a 30percent interest.

A 20percent stake is held by an infividual, Lee Tak Suan who also sits on Cordoda's board, while Capital Properties Bhd, a property development and investment holding company holds the remaining 10%.

Speaking at Patimas' EGM yesterday, Ng Back Heang, its executive director said Cordoda's paid up capital has been increased to RM100 million from RM10,000. This is to facilitate the company's managed network services, a broadband network project for corporate clients.

This news is related to Cordoda Corporation Sdn Bhd

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