Tan Sri Lee Kim Yew, founder and chairman of Country Heights Holdings Bhd, wants his company to issue its own cryptocurrency. First, he needs to convince shareholders to support the proposal at the upcoming meeting, which will take place on November 8.
In a statement released on Friday, the company announced Lee's desire to launch an ICO called Horse. According to the company, "the main differentiator" of Horse will be that it will be the world's first cryptocurrency backed by the assets of the issuer itself.
"We want to get shareholder support for the ICO. The company plans to find new creative solutions based on blockchain technology that will help raise capital and expand the company. The company's founder is confident that Country Heights can be the first company to issue a truly reliable and trustworthy token."
According to the company representatives, the currency Horse will be used as a utility token, a reward token for the loyalty program. They will be able to pay for accommodation at the Palace of Golden Horses hotel, restaurants, golf courses, private air travel, car rental, medical care, etc. County Heights also plans to allow Horse token users to use them to purchase or rent group properties.
The company plans to issue 1 billion Horse tokens, which will be supported by the assets of the company RM2bil. Initially, 300 million Horses will be released into public circulation.
According to thestar.com.my
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