Malaysia: RHB expands in Cambodia; Petronas Gas plans $172m project; BookDoc forms partnership

View of Malaysia's Twin Towers at night

By Manesha Pereira

August 17, 2016

The latest in the deals landscape in Malaysia has seen RHB Indochina Bank Ltd officially open two new branches in Cambodia, Petronas Gas Bhd (PetGas) entering into a joint venture with Linde Group to establish a $172 million project and BookDoc signing a memorandum of understanding with The Malaysia Physiotherapy Association.

RHB expands into Cambodia with two new branches

RHB Indochina Bank Ltd, a member of the RHB Banking Group, officially opened two new branches in Cambodia on Tuesday.

Malaysia’s fourth largest financial services group revealed that over the past eight years, seven branches have been set up in Phnom Penh and four in provinces such as Kampong Cham, Battambang, Siem Reap and Preah Sihanouk. Managing director Datuk Khairussaleh Ramli said, “We target for our international operations to contribute 20% of the group’s profitability by 2020.”

The Mao Tse Tung and Boeung Keng branches, the 10th and 11th RHB branches in the country, will have the industry’s first 24-hour full-function Automated Teller Machine (ATM).

Petronas Gas and Linde team up for $172 project

Petronas Gas Bhd (PGB) announced a shareholders agreement with Linde Malaysia for the establishment of a joint venture (JV) to undertake the $172 million development of an air separation unit plant in Pengerang, Johor.

PGB will hold 51 per cent of the shares and a portion of the cost to the tune of an estimated $88 million while Linde holds the remaining 49 per cent.

According to a filing on Bursa Malaysia, “The source of funding for the project is expected to be via a combination of equity and debt from the respective parties.” Construction work is expected to commence by the third quarter of 2016 and will achieve commercial operation by the fourth quarter of 2018.

BookDoc signs MOU with Malaysia Physiotherapy Association

BookDoc, the Malaysian online healthcare app, has signed a memorandum of understanding (MOU) with the Malaysia Physiotherapy Association (MPA).

The collaboration is expected to enhance user’s access to qualified physiotherapists and to diversify the company’s healthcare platform beyond doctors.

Also Read:

Malaysia: AVANA secures $498k from Cradle Seed, Captii

Malaysia: BookDoc partners Agoda, to integrate room booking services on app
Malaysia: Coastal Contracts acquires 49% stake in JSK Gas for $6.6m

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

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