Cuscapi falls 10.8% on RM14.6m claim of unpaid payments

PETALING JAYA: Shares of Cuscapi Bhd fell as much as 10.8% this morning after it received a letter of demand from Hitachi Systems Digital Services (Singapore) Pte Ltd.
At 11.50am, the stock was trading at 30 sen, down 2.5 sen or 7.7% on 48.92 million shares done.
Hitachi is claiming US$3.6 million (RM14.6 million) from Cuscapi for failing to make requisite payments pursuant to an agreement for the purchase of Rev Hardware Equipment dated September 23, 2016.
Yesterday Cuscapi also announced its plan to operate a cryptocurrency exchange in the Philippines.