Navis Capital divests controlling stake in Alliance Cosmetic Group to Japan’s Mandom

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Navis picked a majority interest in Alliance in December 2009 and has worked along with the company’s founder, Tan Thiam Hock to grow the business.

Malaysian financier Jho Low’s presence at 1MDB meeting erased from audit report

The removal was done at the request of the then-principal secretary to former Prime Minister Najib Razak, a week before the document was presented to a select parliamentary committee in March 2016


Malaysia: MaGIC CEO Ashran Ghazi to step down

The agency has now been officially placed under the purview of Ministry of Entrepreneur Development (MED).


Malaysian travel platform LokaLocal raises funding from S Korea’s BonAngels

With this investment, LokaLocal becomes BonAngels’ first Malaysian portfolio company.


Abu Dhabi’s IPIC files lawsuit against Goldman Sachs, others in 1MDB case

1MDB is the subject of corruption and money-laundering investigations in at least six countries.


MidEast travel startup Holidayme merges with KL-based Tripfez, bags $16m Series C

The Series C marks lead investor Gobi’s second investment into the TaqwaTech space in 2018, after it led a $1.5-million Series A round for Pakistan-based online travel startup Sastaticket recently.


MY Digest: Top management shifts in CIMB; AirAsia inks pact with RHB

CIMB’s group CFO Shahnaz Jammal will take on the role of group CEO of group wholesale banking beginning January 1, 2019.


Foreign insurers can either pare stakes or contribute to health insurance fund, says Malaysian central bank

In Malaysia, 11 insurers including Great Eastern, AIA, and Tokio Marine, are currently wholly owned by foreign firms.


Navis Capital buys Australian healthcare firm Device Tech for $509m

Navis is set to make further bolt-on acquisitions for Device Technologies in Australia.


CIMB partners Ripple, UOB completes POC as remittances take centre stage

CIMB is joining Ripple’s cross-border payments business network, RippleNet, and has deployed the latter’s blockchain-based technology to expand its inbound and outbound remittance network.