Mainstream
Light at end of tunnel for Cuscapi
Ho Chung Teng | 29 Jun 2018 00:30
Loss-making Cuscapi Bhd is hoping to move past its legacy issues and turn around as it addresses inefficiencies by consolidating its resources. The F&B and managed service provider is also embarking on acquisitions that will strengthen its product offerings.

This is no simple task, as Cuscapi has been making losses since FY13 ended Dec 31, with accumulated losses amounting to RM76.42 mil as of Dec 31, 2017.

However, there might be light at the end of the tunnel as the company is now taken over by new shareholder, Datuk Jayakumar Panneer Selvam, who was previously the MD of MY E.G. Integrated Networks Sdn Bhd, a 40% associate of MyEG Services Bhd, in 2009. He was also previously a substantial shareholder of Excel Force MSC Bhd.

A source familiar with Cuscapi views the change in shareholder and senior management as a catalyst in turning around the company.

Jayakumar, who assumed the role of Cuscapi’s chairman and executive director on March 28, says the company is in the midst of turning over a new leaf, and is consolidating its manpower and product offerings while focusing on existing customers.

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