RC365 Holding PLC on Thursday said that its subsidiary, Regal Crown Technology Ltd, has received conditional approval for a government grant in Hong Kong.

According to the London-based firm, which is focused on payment gateway solutions and IT support services, Regal was given approval by the Hong Kong SAR Government’s Trade and Industry department.

The grant, which is for up to £100,000, will be used to facilitate RC365’s projects in Malaysia, as it continues to expand operations in the region.

The government fund is typically designed to strengthen support for Hong Kong-incorporated enterprises by enhancing their competitiveness and development in markets which have free trade agreements with Hong Kong.

Shares in RC365 were trading 4.0% lower at 5.72 pence each in London on Thursday morning.

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