GrabTaxi gets $65m more to take on Uber


Southeast Asia’s leading taxi mobile app, GrabTaxi, has received its  latest round of funding worth $65 million to make deeper inroads into South East Asia. The series C round funding was led by new investor US-based Tiger Global Management, joined by another new investor Hillhouse Capital Management and existing investors GGV… Read more »

Navis Capital exits Trio for $220-m

Kuala Lumpur-based private equity company Navis Capital Partners has sold its 100% stake in Trio Engineered Products, to Weir group PLC, at an enterprise valuation of $220 million. Trio, which is expected to generate about $120 million in revenues in 2014, is a Chinese-American manufacturer of crushing and separation equipment… Read more »

MaGIC to launch database of startups in Malaysia

The Malaysian Global Innovation & Creativity Centre (MaGIC) is planning to go public with its database collating information of local tartups to facilitate investors and advisors in identifying potential companies. MaGIC intends to go live with the database by the end of 2014. It now has an unpublished database of… Read more »

US, Japan firms sniffing out Malaysian startups

A slew of American and Japanese firms and fund managers are looking to invest in Malaysian startups, an executive in Malaysia’s finance ministry said. Secretary-general of treasury Mohd Irwan Serigar Abdullah said he believes Malaysia’s steady economic growth continues to attract foreign investors and that there’s a developing trend showing… Read more »

Startups see positives in Malaysia’s 2015 budget

With a weekend to mull over what the Malaysia Budget 2015 means to the local startups, industry players share their views on the measures Prime Minister Najib Razak announced, putting entrepreneurship and human capital as one of the country’s core strategies. DEALSTREETASIA spoke to three executives: government-linked early stage funding… Read more »

CC Puan to head P1

Green Packet Bhd’s long-time chief executive officer Puan Chan Cheong has relinquished his position to head Packet One Networks (Malaysia) Sdn Bhd (P1). He now takes over as CEO and managing director in P1, while having been redesignated to non-independent and non-executive director in Green Packet. This came hot on… Read more »

MOL’s NASDAQ listing disappoints, company seeks global expansion

MOL Global Inc, a Malaysia-grown e-commerce company, looks to expand its business presence to 100 countries, and its expansion plans are track despite its lacklustre listing on the NASDAQ last week. Despite downsizing its initial public offer the company faltered with its float and managed to raise only  $169 million… Read more »

Industry wanted more in Budget : ACCCIM

The measures announced in the Malaysia Budget 2015 to boost small and medium enterprises (SMEs) are encouraging, but the industry wants to see more foreign direct investment (FDI) to propel its growth, the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) says. ACCCIM SME and Human Resource development… Read more »

P1 to compete in telco space

With a strategic partnership to jointly roll out 4G LTE services and products, Packet One Networks Sdn Bhd (P1) stands to become a contender in the Malaysian telecommunications sector soon. Its tripartite partnership with Telekom Malaysia and SK Telecom, through the holding company Green Packet Berhad, will place the broadband… Read more »

Affinity picks minority stake in Malaysia’s Leong Hup

Family-owned and run Leong Hup Holdings Bhd has opened up its equity holding to Affinity Equity Partners in a strategy to institutionalize and put professionals at the helm of the company. Affinity has reportedly secured its first investment in Malaysia by acquiring a minority stake in poultry supplier Leong Hup… Read more »