MY: US asset manager Globe Ventures to invest in Port Dickson mix development

US-based Globe Ventures Holding Inc will invest in a joint venture with Malaysia’s TSR Capital Bhd to develop a mixed use project in Port Dickson waterfront in Negeri Sembilan, Malaysia.

Globe Ventures, an institutional and private client wealth and asset management firm and a subsidiary of Nevada-based Terafox Corp signed a memorandum of understanding with TSR’s subsidiary TSR Ocean Park Sdn Bhd for the joint venture development project last Friday.

The agreement is for a “proposed mixed development project on the sea fronting land with the size of over 52.2 acres situated at PD Waterfront, Port Dickson, Negeri Sembilan Darul Khusus and MOA to jointly develop the proposed water chalet resort that to be built in part of the Development land,” Bursa-listed TSR said in a filing on Monday.

The total cost of project or an estimated Gross Development Value was not disclosed in the filing.

The development will be a mixed high-end properties that consists of residential, resorts and Hotels, commercials and corporate buildings tailor to tourism and services industry, it added.

Both parties intend to incorporate a Special Purpose Vehicle to undertake the development of Chalet.

TSR Ocean Park and Globe Ventures shall inject their equity and/or advances according to their Agreed Proportion and will share the equity shareholding for the proposed Chalet accordance to 51 per cent and 49 per cent respectively, the announcement said.

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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. 
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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.