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.