Malaysia’s Luster Industries buys into Cambodian lottery biz Pan Cambodian Lottery Corp

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Luster Industries Bhd is venturing into the gaming business in Cambodia, having acquired a stake in licensed number forecast operator (NFO) Pan Cambodian Lottery Corp Ltd (PCLCL). In a filing with Bursa Malaysia two week ago, Luster said it has signed a sale of shares agreement (SSA) with Hong Kong-based… Read more »

Shapadu closer to substantial shareholding in LFE

Shapadu Corp Sdn Bhd is inching towards becoming a substantial shareholder of LFE Corp Bhd after the latter received approval from Bursa Securities, last week, to implement its proposed regularisation plan. The approval will allow Shapadu, via its wholly-owned subsidiary Shapadu Capital Sdn Bhd, to subscribe to 66.67 million new LFE shares,… Read more »


Hong Leong Group invests under $1.4m in online shopping portal GEMFive

Malaysian conglomerate Hong Leong Group has invested under MYR5 million ($1.39 million) in an online shopping portal, GEMFive, which has been launched by the youngest son of the group’s billionaire founder Quek Leng Chan. The 34 years old founder Quek Kon Sean told local reporters that the startup funding provided by… Read more »


iflix partners Vimond to develop Internet TV platform

Southeast Asia’s Internet TV service iflix has entered into an agreement with Norwegian media platform provider Vimond Media Solutions to continue the development of its Internet TV platform. iflix, which offers subscribers unlimited access to thousands of hours of entertainment for a low monthly price, said Vimond will provide a managed service for iflix, based… Read more »


Employees Provident Fund-owned MBSB targets KFH Malaysia for merger

Malaysia Building Society Bhd (MBSB) is understood to be eyeing Kuwait Finance House (M) Bhd (KFH Malaysia) as an option for a merger exercise, according to sources who have been cited in local media. StarBiz quoted banking sources noting that MBSB and its major shareholder, the Employees Provident Fund (EPF),… Read more »


MY Dealbook: Khazanah restructures management, Maybank Asset aims for higher AUM, Dr Yu sells stake in Rapid Synergy

Malaysian government investment arm Khazanah Nasional Bhd underwent a reshuffle in its management team and made new appointments while Maybank Asset Management Group aimed to repeat the growth of its asset under management achieved last year. Meanwhile, media-shy tycoon Dr Yu made a small divestment of his equity interest in… Read more »


Malaysia’s Chin Hin to list on Main Market, details suggests $11m IPO

Chin Hin Group Bhd is planning an initial public offering (IPO) to list on the Main Market of Bursa Malaysia that will raise fresh capital for its expansions, including adding new capacity. According to its draft prospectus, the building materials manufacturer IPO will comprise total issuance of some 63.2 million… Read more »


Malaysia’s Valuecap plans to grow its AUM to $2b by year end

Valuecap Sdn Bhd (Valuecap) is looking to grow the value of its asset under management (AUM) to between MYR7 billion and MYR7.5 billion ($1.95 billion and $2.09 billion) by the end of this year. Currently, the firm has AUM of more than MYR5 billion($1.45 billion) and its AUM target for the year will be… Read more »


IHH, Sime Darby bidding for Health Management’s hospital

IHH Healthcare Bhd and Sime Darby Bhd’s medical venture have made offers for a Malaysian hospital owned by Health Management International, according to the people with knowledge of the matter. Bloomberg reported that both companies have submitted first-round bids for the Mahkota Medical Centre in the state of Malacca. Last month, the… Read more »


Tune Ins to acquire controlling stake in Indonesia’s PT Asuransi Staco Mandiri

Tune Ins Holdings Bhd has proposed to acquire a 50 per cent stake plus one share in Indonesian insurance provider PT Asuransi Staco Mandiri (ASM) for IDR82.86 billion ($6.35 million). In an exchange disclosure, the group said it has executed a conditional binding offer letter to acquire 38,235 shares or 23.33 per cent of… Read more »