KUALA LUMPUR, Jan 7 (Bernama) — Thomas Philip Advocates and Solicitors (Thomas Philip), the lawyers acting on behalf of the current Board of Directors (BoD) of WRP Asia Pacific (WRP), announced that TAEL Partners, a private equity fund, has agreed to a second round of emergency shareholders’ injection of RM 22 million into WRP. The funds are intended to be channelled to the interim liquidator to ensure the welfare of employees and enable WRP to resume full operations without interference or hindrance from the previous management led by Dato Lee.
This follows TAEL Partners’ 2 January 2020 injection of RM3.25 million to enable the interim liquidator to pay salaries to workers and executives during the temporary suspension of WRP’s business operations. The two rounds of funding clearly debunk the inaccurate representation that WRP is in liquidation, as no investor would have injected more funds into a company that is in liquidation.
