MY Digest: Censof Holdings, Petronas Chemicals make acquisitions to expand ops

An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. REUTERS/Olivia Harris

Malaysia-based tech solutions provider Censof Holdings Bhd unit Century Software (M) Sdn Bhd has picked a majority stake in a Singapore-based firm, while Petronas Chemicals Group Bhd made a foray into specialty chemicals by acquiring a Dutch company.

Censof unit picks up a 51% stake in SG firm

Malaysia-based tech solutions provider Censof Holdings Bhd unit Century Software (M) Sdn Bhd has picked up a 51 per cent stake in Singapore-based firm Netsense Business Solutions for 1.3 million ringgit ($310,000), according to a stock filing on Thursday.

The acquisition will help Censof expand its business in the cloud ERP segment. Netsense Business Solutions is an enterprise software application and services provider, which has offices in Singapore, Kuala Lumpur and Jakarta.

“This is a logical step in terms of meeting the rising expectations of clients in the cloud ERP market as Netsense aligns well with Century Software’s strategy to grow its cloud and software business,” said Censof group managing director Ameer Shaik Mydin.

Petronas Chemicals Group buys Dutch firm

Petronas Chemicals Group Bhd (PetChem) made a foray into specialty chemicals, thereby acquiring Da Vinci Group B.V. for 163 million euro ($182.7 million) in cash, it said in a stock filing on Thursday.

Petronas Chemicals said it has inked a sale and purchase agreement to acquire 100 per cent of Da Vinci from its shareholders including funds managed by Bencis Capital Partner. Post acquisition, Da Vinci will become a wholly-owned subsidiary of PetChem.

Based in the Netherlands, Da Vinci is a privately-limited liability company with global operations involving own-brand reselling, formulating and manufacturing of silicones, lube oil additives and chemicals.

“The acquisition is a strategic entry point for PetChem’s specialty chemicals portfolio. The acquisition accelerates the realisation of PetChem’s vision to create value by diversifying its product portfolio into differentiated and specialty chemicals,” said PetChem managing director and CEO Sazali Hamzah.