Malaysia’s Khazanah exits semiconductor testing firm Aemulus

The Khazanah Nasional Berhad logo is displayed on a laptop. Photo: Thitikorn Suksao/DealStreetAsia

Malaysia’s sovereign fund Khazanah Nasional Bhd has exited its investment in semiconductor testing firm Aemulus Holdings Bhd.

Khazanah on Friday disposed of its remaining 29.3 million shares or 5.3 per cent stake in Aemulus, a regulatory filing with Bursa Malaysia showed. Pricing details and the identity of the buyer of the shares, however, were not disclosed.  

The disposal came after Khazanah disposed of 1.62 million shares and 2.28 million shares in Aemulus on July 22 and 23, respectively.

Earlier regulatory filings showed Khazanah has been trimming its stake in Aemulus since December last year. 

Khazanah first acquired a 15 per cent stake in ACE Market-listed Aemulus in September 2015, via Bombalai Hill Ventures, according to earlier media reports. Bombalai Hill had subscribed to some 65.83 million shares or 15 per cent via private placement then.

Founded in 2004, Aemulus designs and develops automated test equipment and test and measuring instruments for the semiconductor industry. In 2015, Aemulus was publicly listed on the ACE Market of Bursa Malaysia.

Khazanah Nasional has been restructuring its debt-heavy portfolio since last year. Khazanah announced a new strategy to restructure its portfolio into commercial and strategic holdings. The sovereign fund also trimmed stakes in some of its invested firms to improve returns.

In May, Khazanah ceased to be a substantial shareholder in ACE market-listed genetics screening company Malaysian Genomics Resource Centre Bhd (MGRC). The development came after Khazanah sold 12 million shares or 11.59 per cent stake through its indirect subsidiary Synamatix Sdn Bhd.

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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.