Malaysia’s VentureTECH invests $2.4m in engineering firm CMC Group

Kuala Lumpur, Malaysia. Photo: Alex Block/Unsplash

Malaysia’s state-linked strategic investment company VentureTECH Sdn Bhd has invested 10 million ringgit ($2.4 million) in local engineering and construction service provider CMC Group, it said in a statement on Friday.

CMC Group specialises in system technology for public transportation, info-communication and power and energy sectors. Some of its high-profile projects in Malaysia include the mainline rail and Light Rail Transit (LRT) projects. It was also involved in projects such as Ho Chi Minh City Metro Line 1 in Vietnam and Changi Airport Terminal 2 telecommunication infrastructure upgrade in Singapore.

“The investment in CMC Group is guided by our mission to build strong Malaysian businesses in the high value added and high growth industries capable of ensuring impactful socio-economic multiplier and benefits. Specifically, for CMC Group, we are impressed with the company’s business plan and execution track record in pursuing strategic and innovation-driven opportunities to deliver sustainable growth,” said VentureTECH managing director Norida Abdul Rahman.

“…together with VentureTECH, CMC is committed to continue developing the Malaysian business ecosystem through various initiatives such as our vendor development programme and our talent management programme,” said CMC Group CEO Hazwan Alif Abdul Rahman.

VentureTECH was established by the Malaysian government in 2009 with a mandate to catalyse the growth of high technology industries via impact investing with an emphasis on bio-based, green tech and emerging industries. It is a wholly-owned subsidiary of the Malaysian Industry-Government Group for High Technology (MIGHT).

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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.

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.