By Elffie Chew
The fund could reduce holdings in cash and money markets by at least 5 percentage points.
Other contenders for a stake include India’s Petronet LNG.
TRX, earlier known as 1MDB Real Estate is now owned by Malaysia’s Ministry of Finance
Slurp plans to use the funds to accelerate product sales and marketing efforts.
Samchem Holdings holds 63.25 per cent of the Vietnam unit post the divestment.
An IPIC spokesman confirmed the payment had been received.
The U.S. Justice Department is conducting a criminal probe into 1Malaysia Development Berhad (1MDB) and has asked for a stay on its civil lawsuits in connection with $1.7 billion in assets allegedly bought with money stolen from the scandal-hit state fund. A total of $4.5 billion was misappropriated from 1MDB… Read more »
Abu Dhabi has given 1Malaysia Development Berhad (1MDB) until August 31 to make a $603 million debt settlement payment that was due on Tuesday, an Abu Dhabi based source with knowledge of the matter said. Under an agreement struck in April with the Abu Dhabi state fund International Petroleum Investment… Read more »
The investment brought the total funding raised by iflix this year to more than $220 million.
The buyout was transacted at a purchase consideration of $88.9 million (RM381 million).