MMC Corp acquires KWAP’s stake in NCB for $49m


Malaysian port operator and utilities group MMC Corp Bhd has sought to acquire the Retirement Fund Incorporated or Kumpulan Wang Persaraan (Diperbadankan)‘s (KWAP) 9.08 per cent stake in NCB Holdings Bhd for MYR186.5 million ($48.97 million) cash. Upon completion of the acquisition, MMC’s interest in NCB will increase from 21.05 per… Read more »

1MDB welcomes TNB’s non-binding offer for power assets

Debt-laden state investment firm 1Malaysia Development Bhd (1MDB) said it welcomed Tenaga Nasional Bhd‘s (TNB) non-binding offer for its power assets parked under Edra Global Energy Bhd. The state investment firm was responding to national power producer, TNB’s announcement on the local stock exchange today that it had submitted an indicative non-binding proposal… Read more »

Bursa Malaysia enhances ACE Market listing requirements

Bursa Malaysia Bhd, the Malaysia stock exchange has announced the outcome of the ACE Market Listing Requirements review, which extends to both the admission and post-listing obligations for the ACE Market. The review has incorporated the industry and public feedback received during the market consultation conducted between November 18, 2014 and… Read more »

500 Startups, MaGIC to launch growth-stage accelerator for SEA

Silicon Valley-based venture capital fund and startup accelerator 500 Startups will be launching a new growth-stage accelerator programme for Southeast Asia, in partnership with the Malaysian Global Innovation & Creativity Centre (MAGIC), both firms said. The 10-week programme, called Distro Dojo, will help companies in the region that have raised at… Read more »

Malaysia based VCAM launches new fund, to invest in bluechips

VCAP Asset Managers Sdn Bhd (VCAM), the wholly-owned asset management subsidiary of ValueCAP Sdn Bhd, has launched its Malaysian ESG (Environment, Social and Governance) Opportunity Fund to invest in leading companies. The fund is an open-ended equity wholesale fund and the first domestic ESG fund of its kind, benchmarked against… Read more »

iCar Asia raises A$11.5m via share placement, to raise additional A$3.5m from rights issue

iCar Asia Limited has completed a placement of new shares to select institutional investors, raising  A$11.5 million at an issue price of A$0.65 per share. The placement was announced to the Australian Securities Exchange or ASX Limited, on which the company listed on July 1, 2015. The placement is expected… Read more »

Nova, Caixa lead $3m Series A in Malaysia eyewear GlassesGroupGlobal

Asia Pacific’s leading eyewear retailer GlassesGroupGlobal announced that it had  raised a $3 million Series A funding from the private equity and venture capital fund Caixa Capital, Asia-focused venture capital firm Nova Founders Capital and a group of angel investors such as Skype’s co-founder Toivo Annus, Bridgepoint Germany’s chairman Uwe Kolb and Drueker &… Read more »

Cradle Fund, KK Fund co-invest $500k in Malaysia based Bemalas

Cradle Fund and its co-investment partner, KK Fund have announced that they will be injecting $500,000 (around MYR1.9 million) into the Malaysian-based startup Be Malas. In a statement, Cradle noted that another angel investor who wishes not be be identified, was also involved in this round of funding. This is the… Read more »

Exclusive: Muslim fashion startup EDZ in talks with Ekuinas, raises $29k via friends & family is in talks with Malaysian government-linked private equity firm Ekuiti Nasional Bhd (Ekuinas) for funding support for one of its upcoming ventures. The fashion startup, which designs and sells Muslim woman wear and modest clothing, has been in discussions with the private equity firm to collaborate on either one of the two ventures it is planning. No investment value was disclosed but Ekuinas will provide funds, and place a consultant  in the startup to advise on business matters, founder Norasurah Abdul Wahab told DEALSTREETASIA. EDZ has two main ventures in the works currently – expanding into Europe and launching a new line of designs under the EDZ brand. Norasurah, who is popularly known as Sue, said Ekuinas was still deciding on which venture to support the firm.The venture selected will be positioned as a corporate social responsibility project for Ekuinas. “Ekuinas will not come in to provide funds only, they will also provide us advice and guidance on the corporate level. The plan is to hire a consultant stationed in EDZ to help us with the venture,” Sue explained. Aside from Ekuinas, EDZ has also been approached by Teak Capital, the venture capital firm that has invested in the likes of Groupsmore,, EasyUni and KFit. “Teak Capital has approached us for the Axiata Digital Innovation Fund… Read more »

Tabung Haji plans investments in Saudi, sells down Evergreen Fibreboard shares, to sell TRX land

Over the last two weeks, Malaysia’s Lembaga Tabung Haji, or Pilgrim Fund Board, has made a few announcements marking its acquisition and disposal plans. On June 23, the fund said it has its eyes peeled for new investment opportunities in Saudi Arabia to generate income that will help it cover… Read more »