Malaysia’s KWAP invests $265m in London mall


Malaysian pension fund Retirement Fund Incorporated or Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has acquired 80 percent in retail property Intu Uxbridge in West London for £175 million ($264.65 million), the company said. The purchase price represents a 2 per cent premium to the property’s last valuation of £213.9 million as… Read more »

Malaysia: Tenaga to buy Integrax for $80.56m

Tenaga Nasional Bhd (TNB), the national power producer of Malaysia, has launched a conditional takeover of Integrax Bhd for a cash offer price of MYR2.75 per share or MYR644.23 million ($80.56 million). The offer price represents a 19 per cent premium to Integrax’s closing price of MYR2.31 on Friday. The… Read more »

Bursa Malaysia names new non-exec chairman

Bursa Malaysia Bhd, the local bourse, has announced the appointment of Amirsham Abdul Aziz as the new non-executive chairman, effective March 1, 2015. Aziz is taking over the role from Mohamed Dzaiddin Abdullah, who has held the position since March 1, 2004. Dzaiddin will entrust the chairmanship of the board to Amirsham… Read more »

“Asean’s youthful market attractive for FDI”

Asean makes an attractive young market for foreign direct investments, according to Malaysian International Trade and Industry minister Mustapa Mohamed. With over half of the population in the region under 40 years old, he noted that there are always more opportunities in a youthful population. Speaking of the First Asean… Read more »

Malaysia deals roundup: KLK, IJM

KLK sells 20% in KLK Premier Capital Oil palm plantation group Kuala Lumpur Kepong Bhd (KLK) is disposing a 20 per cent stake in KLK Premier Capital Ltd to long-term business partner to Mitsui & Co Ltd for MYR 154 million ($44 million). The group sold the stake in its… Read more »

CVC returns $2b to investors in 2014

CVC Capital Partners, via the completion of three exits in December 2014, brought home total capital return of $2 billion to its investors last year. The three notable exits, some full and some partial, were in Taiwan, Japan and the Philippines and returned approximately $1 billion in capital to investors… Read more »

Spruce, Xeraya raise $150m in 2nd MLSCF

Spruce Capital Partners LLC and Xeraya Capital have raised $150 million in the first close of their MLS Capital Fund II, the successor fund to the $162 million Malaysian Life Sciences Capital Fund. The fund, like its predecessor fund, will be co-managed by San Francisco-based Spruce Capital and Malaysian firm… Read more »

Sunway Construction $200m IPO likely in Q2

Sunway Construction Group Bhd has filed its draft prospectus with the Malaysian Securities Commission today, keeping on track with its intention to list this year. The spin-off of Sunway Bhd’s construction unit could raise up to $200 million, although the draft prospectus did not specify the size of the initial… Read more »

1MDB CEO resigns, Abu Dhabi banker takes helm

Embattled state-fund 1Malaysia Development Bhd (1MBD) has replaced its chief executive handing over the reins to Abu Dhabi-based investment banker Arul Kanda, who faces a daunting task of turning around the investment company. The leadership change comes as the debt ridden state investment firm is preparing for a $4 billion… Read more »

Century Logistics major shareholders to sell out

The major shareholders of Malaysian logistics group Century Logistics Holdings Bhd are prepared to sell their collective 44 per cent equity interest in the company. Local media The Edge Financial Daily reported that, quoting sources, the shareholders are willing to dispose of their stakes at MYR3 ro MYR3.20 per share,… Read more »