KUALA LUMPUR: Sersol Bhd has been appointed by the Immigration Department of Malaysia (IDM) as an agent for the Malaysia Premium Visa Programme (PVIP), the company said on Tuesday (Oct 25).
In a Bursa Malaysia filing, the coatings solutions provider said the appointment allowed the company to process up to three hundred applications on behalf of IDM.
The appointment is valid for three years starting Oct 21, 2022.
Sersol said the appointment allows the company to operate in a new business segment to diversify its revenue stream.
“The appointment is in the best interest of the company and its subsidiaries,” said Sersol, adding that the appointment “will contribute positively to the group”, barring any unforeseen circumstances.
The PVIP is a long-term residency status visa that allows investors, entrepreneurs and foreign talents to live and work or study in Malaysia for up to 20 years, according to Sersol.
At the time of writing, Sersol’s share price remained unchanged at 10 sen and its market capitalisation stood at RM59.35 million.
Source : The Edge Markets