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IPOH – XOX Berhad has allocated about RM1.6 million to settle the salary arrears of 94 out of the 168 Perak FC’s staff, including the team’s players.
The company said the remaining salary arrears would be settled as early as by next week after the team’s debt verification and declaration process is completed.
”XOX hopes that this will be a new start in rebuilding Perak FC and returning the club to its heyday,” it said in a statement today.
On May 18, XOX Pro Sport Sdn Bhd entered into a share sale agreement with Impact Media & Communication Sdn Bhd for XOX Pro’s proposed acquisition of the 100% equity interest in football club owner Perak FC Sdn Bhd for RM1.
The RM1 purchase price for Perak FC was arrived at after taking into consideration Perak FC’s loss after taxation, outstanding liabilities and operational difficulties of the football club. – Bernama, May 21, 2022
