Search Results for:Liz Lee
Liz is the Malaysian correspondent for DEALSTREETASIA. She tracks the growing appetite for private equity and venture capital in Malaysia while also keeping tabs on corporate developments.
She hopped on board in October 2014, after three years in the business desk of the leading local English daily where she developed her financial reporting skills.
She remains fascinated with the movement of capital and the socioeconomic effects it leaves in its trail.
Liz graduated from Universiti Tunku Abdul Rahman, with a BA (Hons) in English Language. She lives about five heartbeats away from the heart of Kuala Lumpur.
The shares represent approximately 3 percent of RHB’s enlarged share capital.
AirAsia Group and Expedia formed the JV, AAE Travel Pte Ltd in 2011, in which Expedia held 75 per cent stake since 2015.
New Prime Minister Mahathir Mohamad is keen to make the fund leaner and use sale proceeds to cut massive debt piled up in the 1MDB scandal.
The flamboyant CEO, who co-founded AirAsia in 2001 with two aircraft, announced plans for an IPO for the India unit in January.
The company is majority owned by the founding Lau family. Private equity firm Affinity Equity Partners has owned a 23% stake in the business since 2014.
Khazanah paid the government 1.2 billion ringgit ($301.05 million) in mid-2017 in exchange for redeemable shares owned by the finance ministry. These funds were used to pay some of 1MDB’s dues to Abu Dhabi fund IPIC.
The listing would be the largest IPO in Malaysia since Lotte Chemical Titan’s $878-million listing last year.
Etiqa, its insurance unit which operates in Malaysia, Singapore, the Philippines and Indonesia, is said to be worth at least $1 billion.
The sale raises approximately $902 million of cash proceeds and gives AirAsia’s unit, Asia Aviation Capital Ltd, an enterprise value of $2.85 billion.
The project, valued at about $17 billion by analysts, is the biggest undertaken by Malaysia and Singapore in recent years.