SG’s Royal Group buys DoubleTree in KL for $106m

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Real estate tycoon Asok Kumar Hiranandani of the Royal Group has bought Kuala Lumpur luxury hotel DoubleTree by Hilton, the second parcel of The Intermark to be sold in a week, local media reported. The Royal Group has entered into a sales and purchase agreement to acquire the 540-room hotel… Read more »

Creador’s mandatory offer for Masterskill gets muted response

Malaysia-based private equity fund Creador‘s mandatory offer for health education provider Masterskill Education Group Bhd’s (MEGB) ordinary shares saw a lacklustre take-up rate and acceptances received from minority shareholders barely hit 2 per cent. Arenga Pinnata Sdn Bhd, a subsidiary of the private equity fund, Creador, said the offerer and parties acting in concert… Read more »


Malaysia’s i-VCAP aims to double AUM to $550m in two years

Sovereign wealth fund unit i-VCAP Management Sdn Bhd is targeting to double its assets under management (AUM) to over MYR2 billion ($550 million) in the next two years. i-VCAP has MYR1.1 billion assets under management, around MYR350 million of which is contributed by the exchange-traded funds (ETF). Chief executive officer Mahdzir Othman… Read more »


PH’s Ayala Land surfaces as 9% anchor investor in MY’s MCT

Philippines’s largest real estate firm Ayala Land Inc has acquired a substantial stake in newly listed Malaysian property developer MCT Bhd, emerging as an anchor investor alongside Malaysia’s Pilgrims Fund Board. The acquisition was done through a private placement of $43 million or P1.9 billion for 9.16 percent of the shares… Read more »


Malakoff’s nine cornerstone investors on board for IPO

Corston Smith Asset Management, Eastspring Investments and Malaysia’s Pilgrims Fund Board (Tabung Haji) are part of the list of cornerstone investors in the MRY2.74 billion ($747 million) initial public offering (IPO) of Malaysia’s largest independent power firm, Malakoff Corporation Bhd, Reuters reported. The news wire quoted two sources with direct knowledge of… Read more »


EQT in talks with Cocoaland for potential takeover at $85m

Swedish private equity group EQT Partners is in discussions to take over or acquire a controlling stake in Cocoaland Holdings Bhd, drawn to the company’s growth potential. A local news weekly, Focus Malaysia, reported that EQT is mulling a takeover of Cocoaland at MYR1.80 per share, which translates to a price… Read more »


MY Dealbook: Cahya Mata Sarawak, MIHAS

CMSB acquires half of telecommunications infrastrusture company Sacofa and halal food convention organiser intends to bring in foreign venture capitalists to invest in local SMEs. CMSB acquires 50% in telecommunications infrastructure co Sacofa for $51.5m   Cahya Mata Sarawak Bhd (CMSB) is acquiring a 50 per cent stake in Sarawak-based… Read more »


MoF scraps sale plan, reverts to IPO plan for 1MDB

The Ministry of Finance Malaysia (MoF) has called off plans to sell 1Malaysia Development Bhd’s (1MDB) energy unit, and will return to its original plan to list Edra Global Energy Bhd in an initial public offering on the Malaysian stock market. This decision comes a week after the MoF appointed CIMB… Read more »


SEASAF exits from highway concession holder Cerah Sama for $21.9m

The South East Asian Strategic Assets Fund L P (SEASAF) has completed the divestment of its 35 per cent equity interest in Cerah Sama Sdn Bhd, which indirectly holds the concession to own and operate the Cheras-Kajang Highway. The stake was sold to a joint venture company between Taliworks Corporation Bhd… Read more »


MY Dealbook: Star Publications, KPJ Healthcare, Super Enterprise

So far, in this week of corporate Malaysia’s dealscape, Star Publications has announced its acquisition of a US event company in its bid to diversify its media business, the healthcare industry’s M&A momentum continues in KPJ Healthcare proposed deal, while Super Enterprise’s share price saw a rally on acquisition news… Read more »