Covid-19, competition and cash flow woes: Finance Ministry outlines FashionValet’s collapse to Parliament

  • 📰 malaymail
  • ⏱ Reading Time:
  • 28 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 86%

Khazanah Nasional Berhad Noticias

PNB,Vivy Yusof,Fashionvalet

KUALA LUMPUR, Nov 14 — The Ministry of Finance has identified three factors that are said to have contributed to the collapse of online fashion business FashionValet, resulting...

No idea how to plan your retirement or manage your money after retiring? Get free advice from EPF’s award-winning Relationship & Advisory service

“As FashionValet sought to transform into a multi-channel shopping platform, it rapidly expanded its physical store presence. “The challenging fundraising environment at that time also hindered FashionValet’s attempts to secure fresh funding,” he stated. “To remain operational and resolve cash flow issues, FashionValet urgently required capital from new investors, but received limited interest,” he added.

“The final findings will help improve governance within the involved government-linked investment companies ,” he said.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

 /  🏆 1. in ES
 

Gracias por tu comentario. Tu comentario será publicado después de ser revisado.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

RM27.17bil linked to 1MDB recovered as of September, says Finance Ministry(Reuters) -Ingram Micro is targeting a valuation of up to $5.42 billion in its U.S. initial public offering, the technology products distributor said on Tuesday, underscoring a resurgence in private-equity backed stock market listings.
Fuente: staronline - 🏆 4. / 75 Leer más »

Federal govt debt on downward trend: Finance Ministry projects 7.5pc by end-2024KUALA LUMPUR, Oct 17 — The federal government’s debt growth trend is expected to continue to decrease, ending 2024 at around 7.5 per cent compared to 8.6 per cent in 2023 and...
Fuente: malaymail - 🏆 1. / 86 Leer más »

Finance Ministry: 7,400 companies adopt e-invoicing system, issuing 58 million invoices by mid-OctoberKUALA LUMPUR, Oct 23 — A total of 7,400 companies have adopted the e-invoice system, with 58 million e-invoices issued as of Oct 14, 2024, according to the Ministry of Finance...
Fuente: malaymail - 🏆 1. / 86 Leer más »

872,000 EPF members make voluntary contributions as of Aug 2024, says Finance MinistryA study says it adds to 'risks of developing psychological and cardiovascular illnesses' among spouses, siblings, children and parents.
Fuente: staronline - 🏆 4. / 75 Leer más »

Govt to expedite tabling of Consumer Credit Act, says Finance MinistrySINGAPORE: A man was banned from entering Changi Airport unless he was taking a flight after being caught twice for what the prosecution described as touting-related activities.
Fuente: staronline - 🏆 4. / 75 Leer más »

Khazanah, PNB sold FashionValet stakes at a loss of RM43.9mil, says Finance MinistryAlmost one in five of the workforce in Guangzhou have turned to work in flexible contracts, higher than China’s national level of 14.3%.
Fuente: staronline - 🏆 4. / 75 Leer más »