East Ventures, 500 Startups lead seed funding for Kaodim


Kaodim, a Malaysian online marketplace for consumers seeking service professionals (e.g plumbers, decorators, movers, yoga instructors, or pest control specialists) has successfully raised $550,000 in a seed round led by East Ventures, with participation from other venture capitalists (VCs) like 500 Startups. Founded by the Jeffri Cheong and Choong Fui-Yu, both former practicing lawyers,… Read more »

1MDB debt: Ananda Krishnan settles $560m, Petronas bond yield impacted

Malaysian tycoon T Ananda Krishnan has bailed debt-laden 1Malaysia Development Bhd (1MDB) out, helping the strategic investment firm settle a MYR2 billion ($560 million) loan last Thursday, six days before bankers triggered a default. Local media quoted sources saying that the payment was received by the banks involved hours after the… Read more »

Asean PE investments grew 3-fold to $10b in 2014

Private equity (PE) investments have grown threefold, to over $10 billion in the Asean region in 2014. A bulk of these investments have been committed to firms in the technology and consumer spaces. This was revealed in the Maybank Kim Eng Research chart book distributed at the Asean CAP10 CEO Summit…. Read more »

MY’s Creador invests $16.2m in India’s Ashiana

Malaysia-based private equity firm Creador has invested one billion Indian rupees ($16.2 million) for a minority stake in India-listed real estate company Ashiana Housing Ltd. The stake in Ashiana, which has a market capitalisation of $343 million is Creador’s 14th investment. The transaction was done via Creador’s affiliate Idria Ltd…. Read more »

IHH, TPG eye majority stake in Global Hospitals

Malaysia-based IHH Healthcare Bhd and US private equity firm TPG Capital Management are in advanced talks for a controlling stake in India’s Global Hospitals in a $350 million deal. According to a report in Business Standard, the acquisition talks were encouraged by the increase in affluent Indian patients who are willing… Read more »

CIMB to close its Australian IB operations

Malaysia’s second-biggest lender by assets CIMB Group Holdings Bhd has decided to close its investment banking operations in Australia, following a review of the group’s business, after the three-way merger talk with two local financial institutions fell through. Last week, CIMB said it was looking to cut costs in the… Read more »

1MDB calls off $2.4b Islamic bond issue

State investment vehicle 1Malaysia Development Bhd (1MDB) has cancelled plans to sell up to MYR 8.4 billion ($2.4 billion) of Islamic bonds. Reuters reported that the Islamic bond or sukuk had been earmarked to raise funds for the construction of a $3.6 billion green field 2,000 megawatt coal-fired power plant,… Read more »

Yeaoh: Break the taboo of failure in entrepreneurs

The Malaysian Global Innovation and Creativity Centre (MaGIC) is hiring ‘failed entrepreneurs’, to encourage the individuals to rejoin or remain in the ecosystem and give their talent a second chance. CEO Cheryl Yeoh said during a live interview session with Mindvalley founder Vishen Lakhiani that it was no surprise that the… Read more »

Malaysia’s Malakoff gets SC’s approval to re-list

Malaysia’s Securities Commission (SC) has approved Malakoff Corp Bhd’s application for re-listing, on the Main Market of Bursa Malaysia. MMC Corp Bhd owns 51% stake in Malakoff. Post the proposed listing, MMC’s stake in Malakoff would be reduced to 49 per cent, assuming the over-allotted shares are fully subscribed to by… Read more »

Korea’s 11street to invest $10m in MY website

11street, which ranks among Korea’s largest market places, will be investing MYR 35 million ($10 million) in its Malaysian website to encourage local seller participation – to get an edge over other e-commerce players already present in the market. 11street, which is already present in Turkey and Indonesia, has just launched… Read more »