MY: CMS Opus invests $4.5m in My-Sutera; exits Damini, Delta Express

(From left) CMS Opus MD Azam Azman, MVCA chairman Amin Shafie and MyCreative Ventures CEO Johan Ishak at the press conference for the Southeast Asia Venture Capital and Private Equity Conference 2015.

Malaysia’s CMS Opus Private Equity (COPE) has invested $4.5 million (MYR 20 million) in the country’s largest school uniform maker My-Sutera even as it made two investment exits from water meter firm Damini Corporation and logistics provider Delta Express in the first quarter of this year.

In an announcement, the private equity investment arm of Cahya Mata Sarawak said it “had a busy first four months of 2017, successfully finalising a number of investment exits and undertaking of new strategic investments in growing consumer segments.”

The investment in My-Sutera, that has two well known brands “Canggih” and “Ammaro,” is expected to propel it to become the number one producer of school uniforms in Malaysia.

“The investment would also assist the company to further expand its product lines and to enter new markets,” it said.

The investment indicates the firm’s confidence in the consumer market in Malaysia. In fact, COPE has invested in fresh fruits retail chain MBG Fruits picking up a 31.5 per cent stake in the company last year. That was a debut in the retail segment for the private equity firm.

Other than school uniforms, Shah Alam-headquartered My-Sutera also produces corporate uniforms and has embarked into specialised fire retardant material-based uniform for use by fire brigades, military personnel, shipboard engineers, chemical plants and the like.

Meanwhile, with regard to exits, COPE made an exit from its 29.37 per cent equity stake in Damini Corporation on March 31, 2017 via redeemable convertible preference shares. The firm had invested Damini, a major supplier and distributor of water meters and metering solutions, in 2015.

Further, COPE also successfully exited from its effective equity stake of approximately 45 per cent in logistics forwarding and shipping service provider, Delta Express on April 17, 2017. All investments in Delta, which is a subsidiary of Swift Haulage Sdn Bhd, were made via redeemable convertible preference shares.

No financial details were given with regard to the exits.

Also Read:

Exclusive: Malaysian PE firm CMS Opus makes retail debut, picks 31.5% in MBG Fruits

CMS Opus aims for $133m AUM via 16 new investments this year

CMS Opus divests all O&G investments, to amp up diversification strategy

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.

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Following vacancies can be applied for (only in Singapore).   

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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.