Hong Kong PE firm Evergreen Offshore to launch tourism-focused fund in Malaysia

Emblem of Malaysia, the Petronas Twin Towers

By Tanu Pandey

October 12, 2016

Hong Kong based private equity (PE) firm Evergreen Offshore Inc will launch the Asia Pacific One Belt One Road (OBOR) Tourism Industry Fund in Malaysia, the first country in the region it has chosen to launch the sector-focussed vehicle.

Without disclosing the size and other details about the fund that will be launched this Friday, Evergreen said that it has chosen to debut this fund in Malaysia as the country is deemed an ideal investment destination for long term gain.

“The fund is managed by Ever Centurion Ltd, also based in Hong Kong. AFV Consultants Group Sdn Bhd is exclusive strategy partner in Malaysia involved in project assessment and due diligence process,” Evergreen said in a statement announcing the launch of the PE fund.

OBOR is a development strategy and framework proposed by Chinese leader Xi Jinping that focuses on connectivity and cooperation among countries primarily between the People’s Republic of China and the rest of Eurasia.

“Malaysia is strategically situated on the south belt. In addition to the Chinese government, many private sectors, including Evergreen, have come together and aspire to contribute to the success of the ambitious initiative by investing in relevant projects in the OBOR trade route,” the statement said.

Malaysia’s tourism industry is expected to grow to $62.56 billion (MYR262.2 billion), 15.8 per cent of GDP in 2025 from $14.56 (MYR61 billion) in 2015 last year.

Tourist arrivals to Malaysia increased by 3.7 per cent in the first half of this year while in the same period, tourist expenditure increased by 10.7 per cent. Further, China tourist arrivals had increased by 32.1 per cent. The growth also came largely from Singapore, Thailand, Indonesia and Brunei.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW