RCBC, Cathay Life close $179m equity investment deal

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Philippine universal bank Rizal Commercial Banking Corporation (RCBC) disclosed on Monday that it finally closed its P7.95 billion ($179.9 million) share purchase deal with Cathay Life Insurance Co Ltd (Cathay Life), with the latter acquiring 20 per cent stake in the listed bank.

Malaysia’s MBSB looks at possible merger during next two years

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Although the potential merger between Malaysia Building Society Bhd (MBSB) and Bank Islam Malaysia Bhd remains market talk, MBSB recently confirmed that a merger with an Islamic financial institution is still on the cards, within this year or next. Local media reported that MBSB president and chief executive officer Ahmad… Read more »


Thailand’s mass transit operator BTS to aquire majority stake in NPARK

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After Natural Park Plc (NPARK) issues additional ordinary shares and warrants in exchange for acquiring all ordinary shares of BTS Assets Company and Kamkoong Property Company from the BTS Group, the group will become a new major shareholder in NPARK with the 35.64 per cent stake. NPARK which is a listed property developer in Thailand’s… Read more »


Indonesia’s Lippo appoints banks to raise $200m for e-commerce foray; plans sale of $500m holdings in Link Net Holding

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Indonesian conglomerate Lippo Group Monday said it has appointed Credit Suisse and Bank of America Merrill Lynch to raise funds to the tune of $200 million for its e-commerce foray. Lippo, controlled by the Riady family, has also chosen Rothschild as its financial adviser for the transaction, Reuters said in a report, while… Read more »


RGB International proposes private placement to fuel gaming machines purchase

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Electronics gaming machines manufacturer RGB International Bhd has proposed a private placement of 10 per cent of its issued and paid-up capital to selected investors, which proceeds will be used to repay borrowings and purchase gaming machines for its existing on-going concessions in the Philippines and Indo-China. “At this juncture,… Read more »


MY Dealbook: Tropicana sells Tenaga Kimia; Mitrajaya acquires Optimax; Mclean buys DWZ Industries; Sentoria places out 2.2% stake

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Corporate Malaysia saw various companies putting up a fraction of their shareholding to others or acquiring stakes in strategic businesses in the past ten days. DEALSTREETASIA takes a look at some of these deals. Tropicana disposes 73 per cent in Tenaga Kimia Tropicana Corp Bhd is disposing of its entire 73… Read more »


Toshiba clinches Turbine contract for Yeywa Hydro Project

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Toshiba Hydro Power (Hangzhou) Co Ltd (THPC), a Chinese subsidiary of Toshiba Corp that manufactures, sells and maintains hydroelectric equipment, has won a major order to supply four units of 77-megawatt (MW) hydro turbine and generator for a hydro project in Myanmar. The Ministry of Electric Power Enterprise (MEPE) will… Read more »


Canadian firm to explore Tanintharyi Offshore Block

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Canadian Foresight Group Pte Ltd, through its wholly owned subsidiary CFG Energy Pte Ltd along with its partners, has signed a production sharing contract (PSC) with the Myanmar Oil and Gas Enterprise (MOGE) for a shallow offshore block M15. The firm’s partners are TRG M15 Pte Ltd, part of the… Read more »


Vintage buys stake in Myanmar solar plant firm

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Thailand-based Vintage Engineering said it has acquired a stake in a company that is expected to build a 220-megawatts (MW) solar power plant in Myanmar. The company’s board has approved the acquisition of 12 percent of shares in Green Earth Power (Thailand) for $20.28 million, according to Thai media reports…. Read more »


Sunway acquires hardware businesses for $38m, jointly buys Pasir Mas for $480k

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Property and construction group Sunway Bhd made two key announcements last week – the acquisition of two hardware distributors Winstar Trading Sdn Bhd and Singapore-based PND Hardware & Trading Pte Ltd, as well as the proposed joint acquisition of Pasir Mas Holdings Sdn Bhd with several other parties. In two… Read more »