KINIBIZ The Johor sultan has bought a 15 percent stake in MOL AccessPortal Sdn Bhd (MOL) for US$120 million (RM395.78 million), according to a statement released by the company.

“It is the wish of Sultan Ibrahim Sultan Iskandar to increase its involvement in the technology sector and create more job opportunities for the people of Johor.

“Our major shareholder, Vincent Tan, and myself - both being Johoreans - are honoured to have Sultan Ibrahim as an MOL shareholder,” said the co-founder and CEO of MOL, Ganesh Kumar Bangah.

MOL AccessPortal is a wholly-owned subsidiary of MOL Global - the online payment company owned by billionaire Vincent Tan, founder of Berjaya Group.

It is one of Asia’s largest online payment service providers and operates MOLPoints, an online games and digital goods micropayment platform.

It has a presence in 12 countries, including Malaysia, Thailand, the Philippines, Indonesia, Vietnam, Singapore, Australia, New Zealand, Taiwan, Turkey, Brazil, and USA.

For the complete article, go to KiniBiz .