MY Digest: Nexea backs 3 startups; Boustead sells hotel; SDB announces share swap

Vehicles sit in traffic on a road in the Bangsar area of Kuala Lumpur, Malaysia. Photographer: Sanjit Das/Bloomberg

Malaysia-based accelerator and VC firm Nexea has invested in three local startups. On the corporate side, Boustead Holdings Bhd is disposing of a hotel worth RM197 million ($48.2 million) while Selangor Dredging Bhd has announced a share swap as part of a restructuring exercise in preparation for an initial public offering in Singapore.

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