Thailand’s VGI acquires 25% in Malaysian OOH firm for $3.2m

Image from VGI website.

VGI Global Media, a SET-listed out-of-home (OOH) media provider, has acquired a 25 per cent stake in Malaysian OOH media firm Puncak Berlian Sdn Bhd (PBSB) from Redberry Sdn Bhd, a wholly-owned subsidiary of Ancom Berhad, for an initial investment of 13.15 million ringgit ($3.2 million).

The acquisition, done through its subsidiary VGI Global Media (Malaysia) Sdn Bhd, is set to be completed by February 2018, according to the Thai company’s statement.

PBSB owns a diversified OOH media network. It holds a 90 per cent stake in Redberry Outdoors Sdn BHD, 83.9 per cent in Focus Media Network, 74.9 per cent in Meru Utama Sdn Bhd, 51 per cent in Titanium Compass Sdn Bhd, 49 per cent in Redberry Media Sdn Bhd and 49 per cent in Point Cast (M).

According to a Malay Mail Online report, PBSB is currently finalizing the acquisition of a 90 per cent interest in Ten Plus Resources Sdn Bhd.

With VGI’s strategic investment, it has become the largest OOH media group in the region that controls media content in the MRT lines in Malaysia, Indonesia and Thailand.

Kavin Kanchanapas, chairman of VGI Global Media, told the media that he was confident of achieving double-digit growth in Malaysia and that non-traditional media offers an opportunity to help boost brand awareness and promote the country’s tourism sector.

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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.