Capricorn signs Memorandum of Understanding with Southborn Capital Sdn Bhd a wholly owned subsidiary of CN Asia Corporation Berhad (7986) to Expand Blockchainization in SEA Market

KUALA LUMPUR, MALAYSIA – Media OutReach – 24 March 2022 – Malaysia-based finance solution provider, Capricorn Foundation, announce their intent to work together to maximise the benefits for mutual interests in setting up a strategic partnership and to provide the foundation and structure for blockchainization in providing total containment solutions and services of integrity through teamwork and innovation using AI, blockchain and big data with Southborn Capital, a wholly-owned subsidiary of CN Asia (7986) , to expand their market to Southeast Asia.

SOUTHBORN is engaged in the business of moneylending services providing financing schemes that cater to a wide range of customers, ranging from start-up entrepreneurs to small-medium enterprises and owns a moneylending licence bearing number WL7664/10/01-1/031222 valid from 04 December 2020 until 3 December 2022, issued by the Ministry of Housing and Local Government pursuant to the Moneylenders Act, 1951.

“The MOU with Southborn is a new milestone for us,” said Eric Lau from Capricorn Foundation, “With the off-chain support from Sounthborn, we are looking for a win-win future for this strategic partnership with our solid resources and connection in local market.”

Capricorn and Southborn have intimated their intent to work together to maximise the benefits for mutual interests to establish a basis of cooperation and collaboration upon the terms contained in the MOU.

#Capricorn

The issuer is solely responsible for the content of this announcement.