<article>Malaysian corporations saw a flurry of strategic deals this week, as NetX partners a Abu Dhabi company, AirAsia acquires a large stake in a supplier and AMMB exits from a non-core operation.</article>

Malaysian corporations saw a flurry of strategic deals this week, as NetX partners a Abu Dhabi company, AirAsia acquires a large stake in a supplier and AMMB exits from a non-core operation.
<h3>NetX partners UAE&#8217;s Blackrockme for payment software biz</h3>
<a href="http://www.netx.com.my/netx/" target="_blank">NetX Holdings Bhd&#8217;s</a> subsidiary Payaliz Sdn Bhd has partnered with United Arab Emirates (UAE)-registered Blackrockme Pvt Ltd to distribute mobile payment software, solution and/or service excluding hardware in Iran and UAE.
Both companies would develop a joint &#8216;go-to-market&#8217; plan to define the commercial and technical activities that would be carried out for the launch of a product, NetX said, in a bourse filing.
Payaliz and Blackrockme have entered into a MoU on June 23, 2016 that would expire when a definitive agreement is executed or within three months from the date of MoU.
<h3>AirAsia buys 80% in T&amp;Co Coffee for $225k</h3>
Budget carrier <a href="http://www.dealstreetasia.com/tag/airasia-bhd/" target="_blank">AirAsia Bhd</a> is picking an 80 per cent stake in <a href="http://tcocoffee.com/" target="_blank">T&amp;Co Coffee Sdn Bhd</a> (T&amp;Co) for MYR914,000 ($225,400) cash to provide more lifestyle-focused offering to its passengers by expanding its in-flight menu.
The airline said, in a filing with Bursa Malaysia, that it had entered into an agreement with Charlene Yeo Ming Ling for the proposed acquisition.
The purchase consideration will be satisfied in part by cash of MYR814,000 and the remaining MYR100,000 by AirAsia credit shell, which may be used to pay for flights on all carriers within AirAsia Group.
The purchase price is based on T&amp;Co’s agreed valuation of MYR1.14 million, derived after taking into consideration its net tangible assets (NTA) of MYR280,586 as of June 30, 2015 and the capitalisation of the amount owing to Cheng of MYR852,341.
Upon capitalisation, the total shares of T&amp;Co will be increased to 1.1 million, bringing up the NTA per share to RM1.03.
T&amp;Co has been supplying in-flight coffee and tea solutions to AirAsia since December 2013, and AirAsia believed that acquiring a majority stake in T&amp;Co would allow it to have greater management control on T&amp;Co, which will allow it to control over product planning and development. AirAsia would also be able to raise premium on beverages as well as improve the margin.
<h3>AMMB divests 80% stake in AmTrustee</h3>
<a href="http://www.dealstreetasia.com/tag/ammb-holdings-bhd/" target="_blank">AMMB Holdings Bhd</a> has divested the group’s entire 80 per cent shareholding in AmTrustee Bhd, a non-core operation, to several parties for MYR9.13 million ($2.25 million).
According to a bourse filing, the group said, its subsidiaries, AmBank (M) Berhad, AmInvestment Bank Berhad, AmCard Services Berhad and AmSecurities Holding Sdn Bhd, have disposed off their respective 20 per cent equity stake each in AmTrustee today.
The buyers involved are Rockwills International Group chairman Johari Low Abdullah, PL Advisory Services Sdn Bhd, PLAS Capital Sdn Bhd and PLAS Equity Sdn Bhd. 
AmTrustee, founded in 1987, offers custodian banking and trust services for unit trust funds, REITs, bonds, stakeholders, and retirement funds.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/airasia-weighs-bnp-credit-suisse-rhb-to-help-sell-leasing-unit-44938/" target="_blank">Malaysia: AirAsia weighs BNP, Credit Suisse, RHB to help sell leasing unit</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/malaysias-airasia-to-raise-257-mln-by-selling-shares-to-founders-36106/" target="_blank">Malaysian budget airline AirAsia to raise $257m by via share sale to founders</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/38732-38732/" target="_blank">Malaysia: TPG Newbridge, other funds keen on ANZ’s block in AmBank</a>

MY Deabook: NetX-Blackrockme pact, AirAsia-T&Co deal, AMMB exits AmTrustee

MY Deabook: NetX-Blackrockme pact, AirAsia-T&Co deal, AMMB exits AmTrustee

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MY Deabook: NetX-Blackrockme pact, AirAsia-T&Co deal, AMMB exits AmTrustee

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