Malaysia Digest: HPP eyes ACE Market; BOUSTEAD, TDM Bhd in news

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

In updates from Malaysia, HPP Holdings is selling 27.98 per cent shares in its IPO while BOUSTEAD Holdings is seeking to sell a land parcel and TDM Bhd is acquiring controlling stake in THP-YT Plantation.

HPP Holdings seeks to list in Bursa Malaysia’s ACE Market

Paper-based packaging company HPP Holdings Bhd is seeking to list in Bursa Malaysia’s ACE Market, according to the company’s filing to Securities Commission Malaysia.

HPP Holdings will sell 27.98% or a total 108.66 million of shares during the IPO process.  The IPO timeline has not been set yet.

The company will use the IPO proceeds to increase its production capacity, widen customer base in local and overseas markets.

BOUSTEAD Holdings to sell land parcel in KL

Malaysia’s diversified company BOUSTEAD Holdings is seeking to sell a 2.94-acre land parcel in Jalan Cochrane in Kuala Lumpur, The Edge reported.

Earlier in 2018 and 2019, BOUSTEAD put two assets in Jalan Bukit Bintang up for sale, with a targeted price of 147 million ringgit.

BOUSTEAD’s spokesperson said the company has been receiving some offers for the land since 2018. Meanwhile, since November 2019, the company decided to actively seek a buyer for those assets.

According to the spokesperson, the sale of the property would enable Boustead to unlock its value via monetisation or in joint venture partnerships with parties that have strong financial resources and more defined expertise.

TDM Bhd to buy 70% THP-YT Plantation

Malaysia’s palm oil plantation and healthcare company TDM Bhd has entered a Heads of Agreements (HoA) to acquire 70% of THP-YT Plantation for 7 million ringgit, according to its announcement in Bursa Malaysia on 31 December 2019.

THP-YT owns three plantation lands located in Mukim of Caluk and Marang, in the District of Setiu, Terengganu State. The plantation area is located close to TDM’s existing plantations as well as its palm oil mill, the announcement said.

This acquisition will also improve TDM’s average age profile and provide a positive contribution to TDM’s cashflow. Following the acquisition, TDM’s total planted oil palm area in Terengganu will increase from 31,346 hectares to 33,653 hectares.

 

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.

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.