Malaysia: Wah Seong sells plantation unit; TFP Solutions launches Bangladesh JV

View of Kuala Lumpur City at night

Wah Seong has divested its struggling plantation arm while TFP Solutions has entered Bangladesh via a joint venture with Maestrosoft Ltd.

Wah Seong offloads plantation unit

Wah Seong Corp Bhd intends to sell its plantation unit WS Agro Industries Pte Ltd to Agro Panorama Sdn Bhd for $6 million (RM24.46 million).

The disposal of WS Agro’s is meant to “streamline, realign and rationalise” its business activities while realising resources that are tied to non-core operations.

The divestment comes following Wah Seong struggling with the plantation arm, which has not been profitable.

TFP Solutions enters Bangladesh via JV

TFP Solutions Bhd is venturing into the Bangladesh software development market by forming a joint venture (JV) with a local IT solution company. The deal will see its wholly-owned subsidiary ProDserv Sdn Bhd own 55 per cent of the JV firm.

The remaining 45 per cent is held by Maestrosoft Ltd., involved in the software development business. Its major shareholders are Dr Kamrul Ahsan Md Zafarullah Patwary (65%) and Dil Afroze (35%).

TFP said it intends to expand its market reach to Bangladesh in order to capitalise on the country’s growing demand for technology solutions.

Also Read:

Malaysia: MyEG’s venture arm picks stake in tech firm Stampede Holdings for $2.5m

Sime Darby plantation and property units make weak debut on Malaysian bourse

Malaysia’s Magic toys with idea of providing funding to startups it backs

Indonesia: Telkom agrees to buy Malaysia’s TS Global Network for $26m

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.