Australia-based Raiz Invest has now announced that it will close its operations and business in Malaysia. This closure is expected to be implemented in stages. However further announcements from Raiz Malaysia have not yet been made for now. So, what should should you know about it?
For your information, Through Raiz Invest Australia's notification , they stated that Raiz Malaysia is operated through a joint venture between Jewel Digital Venture Sdn Bhd and Raiz Invest Australia Limited. Under the strategic review carried out on the Raiz Malaysia business, both joint venture partners agreed to close the Raiz Malaysia business.
It is said that the Raiz Malaysia entity has sufficient funds in the process of closing the company. This closing process will be implemented in stages, in an effort to ensure that various processes and investor assets are well managed. The reason behind the closure of Raiz Malaysia's operations, which has been going on for around 4 years, is not known at this time. Raiz will continue to focus on the Australian market for now.
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