Actis sells Teknicast to India’s Amtek


UK private equity firm Actis has exited its investment in Malaysian aluminium die-cast maker Teknicast Sdn Bhd, selling  it to India-based automobile component company Amtek Auto . The exit comes six years after Actis had bought out Teknicast, in September 2008. The amount of the sale, that was concluded last month, was not disclosed…. Read more »

Hap Seng buys 51% in Hafary for $40m

Hap Seng Consolidated Bhd has made a voluntary partial cash offer to acquire a controlling stake (51 per cent equity interest) in Singapore-based Hafary Holdings Ltd, for S$52.5 million ($39.7 million) or 24 cents per share. The offer, done via its wholly-owned subsidiary Hap Seng Investment Holdings Pte Ltd, is… Read more »

HSG sells entire stake in Yokohama

The controlling shareholder in the Malaysia-based Yokohama Industries Bhd, has agreed to sell its entire 62.16 per cent stake in the automotive battery producer to a Singapore-based buyer for MYR90.1 million. Yokohama said in a filing on Bursa Malaysia that the controlling shareholder HSG Investments Pte Ltd had signed a heads of… Read more »

Malaysian cos to raise $6.64b in IPOs in 2015

Malaysia’s initial public offering (IPO) market is looking buoyant for next year – with mega listings and special purpose acquisition companies (SPACs) joining the line up to go public in 2015. The estimated value of funds that about 10 major IPOs, are expected to raise in 2015, is upwards of $6.64… Read more »

Tanjung Offshore, Bourbon terminate deal

Tanjung Offshore Bhd and Bourbon Far East Pte Ltd have aborted the proposed asset injection that would have resulted in a reverse takeover of Tanjung offshore by Paris-based Bourbon SA. In an announcement on Bursa Malaysia, the oil and gas company said that it and a vendor group consisting of… Read more »

Tower REIT disposes assets for $38m

Tower Real Estate Investment Trust (REIT) has disposed of 19 office parcels and 190 car park bays within Menara ING for MYR132.34 million ($37.8 million) cash, expected to provide a gain of MYR40.4 million ($11.5 million) for the trust. In a filing with Bursa Malaysia, Tower REIT said the proposed… Read more »

Malaysia roundup: Tune Insurance, BrightPack

AirAsia promoters reduce stake in Tune Insurance The promoters of Malays’a -based budget airliner AirAsia Bhd‘s promoters have pared down their stake in the in the group’s Tune Insurance Holdings Bhd,last week, Both AirAsia Group CEO Tony Fernandes and chairman Kamarudin Meranun have collectively disposed 944,800 shares, held directly and indirectly through the group’s investment… Read more »

IdeaRiverRun to launch 3 new digital biz in Jan

After launching two digital platforms in 2014, Malaysia-based private investment company and incubator IdeaRiverRun Sdn Bhd (IRR) is aiming to introduce three other digital businesses in January, its chief executive Nik Lim said in an interaction with DEALSTREETASIA. Among the digital platforms, news portal launched by IRR, and travel deals… Read more »

MaGIC boardroom changes, Ng exits

Barely a year into establishment, the Malaysian Global Innovation and Creativity Centre (MaGIC) has seen some key changes in among board of directors – most notably, entrepreneur and managing partner of 500 Startups Khailee Ng has stepped down. In another update in its boardroom, Husni Salleh, CEO of the Bumiputera… Read more »

CatchThatBus: Catching second round of funding

Malaysia’s pioneering bus ticketing platform operator Catch That Bus Sdn Bhd is in talks with venture capital firms for its second funding round and expects to seal a deal within the next three months, a top company executive said. The latest funding round is set to be much larger than the… Read more »