MY roundup: Greenland, Iris, Minetech, LBS


Malaysian companies have entered into a slew of deals this week stretching across realty to forming joint ventures to increasing or selling stakes in subsidiaries. DEALSTREETASIA takes a look at some of the deals so far this week. Greenland signs $664m waterfront development deal with IWC Shanghai state government-owned Greenland… Read more »

Malaysia’s Axis REIT aims for $830m AUM

Axis Real Estate Investment Trust (Axis REIT) is targeting to grow its assets under management (AUM) to MYR3 billion ($830 million); it recently surpassed the target of MYR2 billion ($550 million). CEO and executive director Stewart LaBrooy said the new target will be achieved via acquisitions within the next three… Read more »

Crude Effect: Malaysia to boost pvt investment

In the revision of the nation’s Budget for 2015, responding to the decline in oil prices, the Malaysian government has formulated five measures to boost private investments in the country. These include – setting up of the $1.39 billion Service Sector Guarantee Scheme, directing government-linked investment companies and government companies to… Read more »

Creador, SMRT acquire Masterskill for $31.5m

Private equity firm Creador and SMRT Holdings Bhd have formed a consortium to takeover Masterskill Education Group Bhd (MEGB) for MYR112.8 million ($31.5 million). Both parties have first entered into a share sale agreement last Monday to acquire a 30.75 per cent stake or 115.7 million shares in Masterskill from its… Read more »

Navis exits Australia’s Peoplebank for $56.6m

Navis Capital Partners has exited its investment in Peoplebank Holdings Pty Ltd in a trade sale to Japan’s Recruit Holdings, for A$68.6 million ($56.5 million). The Malaysia-based private equity firm acquired a controlling stake in Australia-based IT and specialist recruiting firm Peoplebank in July 2007 for a reported A$55 million… Read more »

1MDB IPO to be delayed

The initial public offering (IPO) of 1Malaysia Development Bhd’s (1MDB) power business is likely to be delayed as the state-owned company concentrates on resolving debt repayments, news wires reported. Just a day ago, the local media was abuzz with billionaire T Ananda Krishnan’s reported interest to take up a cornerstone position in… Read more »

SapuraKencana secures $2.3b Islamic loan

SapuraKencana Petroleum Bhd’s unit has secured a $2.3 billion Islamic loan, nudging the group closer to Syariah-compliance. The oil and gas firm’s share price climbed 2.46 per cent or 6 sen to close Friday’s trade at MYR2.50 on a trading volume of 25.98 million shares. Research analysts covering the sector… Read more »

MCT expects to raise $84m from listing

Malaysian property developer MCT Consortium Bhd is expected to raise at least MYR300 million ($84.4 million) when it lists on the local exchange by March-end, following its reverse takeover (RTO) of GW Plastics Bhd. DEALSTREETASIA had earlier reported, quoting a executive familiar with the developments, that the company was likely to… Read more »

Malaysia round-up: 1MDB, MAHB, Bank merger

Malaysian tycoon to take stake in 1MDB IPO Malaysian tycoon Ananda Krishnan is said to be in talks with state firm 1Malaysia Development Bhd (1MDB) to become a cornerstone investor in the $3 billion listing of its power assets, a local daily reported. The Edge Financial Daily said two people… Read more »

Khazanah invests in Azadea via Fajr Capital

Khazanah Nasional Bhd backed Fajr Capital Ltd is teaming with KKR & Co to bid for a 25 per cent stake in Azadea Group, the franchise operator of clothing chain Zara in the Middle East, a news report said. According to international news wire Bloomberg, Lebanon’s Daher family, which owns… Read more »