Kuala Lumpur, Malaysia. Photo: Pixabay Malaysian conglomerate Sunway Bhd on Thursday said it plans to apply for an online-only banking licence with undisclosed partners to expand in the financial technology (fintech) sector. The group, in an email to Reuters, said it aims to build a fintech ecosystem for individuals as well as for micro, small […]
FILE PHOTO – A security officer guards in front of the Axiata headquarters building in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA will seal a deal to merge their Malaysian mobile operations within days, Axiata‘s CEO said on Tuesday. Both companies have concluded the due diligence process and are hopeful to sign the agreement […]
The KL Tower is seen, with a background of the cityscape in Kuala Lumpur, Malaysia. Malaysian construction group IJM Corporation Bhd has accepted Kuala Lumpur Kepong Bhd’s (KLK) 1.53 billion ringgit ($372.63 million) cash offer for its entire stake in its palm oil plantation business, a stock exchange filing on Friday showed. Plantation giant KLK proposed acquiring IJM Corp‘s 56.2% stake in IJM Plantations Bhd in […]
Photo: Reuters Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd’s entire stake in IJM Plantations Bhd for 1.53 billion ringgit ($371.72 million) in cash, the companies said on Wednesday. IJM Corp said it has received a letter from KLK, one of the largest palm oil planters in the […]
EPF Employees Provident Fund Malaysian pension fund Employees Provident Fund (EPF) has recorded a 58% growth in gross investment income at 19.29 billion ringgit ($4.68 billion) for the first quarter ended March 31, 2021, against 12.16 billion ringgit ($2.95 billion) in the corresponding period last year. The fund, however, maintains a “cautious” stance for the […]
Oil platform at sea Malaysian oil and gas exploration and production company Hibiscus Petroleum Bhd has acquired Spanish energy major Repsol Exploración, S.A.’s upstream assets in Malaysia and Vietnam for a cash consideration of $212.5 million, it said in a stock exchange filing on Friday. The acquisition comprises five production-sharing contracts, one of which is in Vietnam, […]
Malaysian teleco Axiata Group Bhd and RHB Banking Group announced on Wednesday that they have formed a consortium to apply for a digital banking licence in the country. Boost Holdings, Axiata’s subsidiary that operates an e-wallet, will own 60%, while RHB, the country’s fourth-largest banking group, will own the rest of the digital bank, subject […]
Kuala Lumpur, Malaysia. Photo by Kah Hay Chee on Unsplash Malaysian state-linked fund management company Permodalan Nasional Bhd (PNB) has expressed “deep concern” about the issues at Serba Dinamik Holdings Bhd , which is facing an investigation over unverified contracts. Oil and gas services firm Serba said last week that its auditor KPMG had not […]
REUTERS/Beawiharta AirAsia X Bhd shareholders have approved the Malaysian budget airline’s debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. Shareholders of the long-haul affiliate of AirAsia Group Bhd approved all resolutions at an extraordinary general meeting, including a rights issue and a share subscription for […]
Macau Photo Agency / Unsplash AirAsia X Bhd shareholders have approved the Malaysian budget airline’s debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. Shareholders of the long-haul affiliate of AirAsia Group Bhd approved all resolutions at an extraordinary general meeting, including a rights issue and a share subscription for […]
Saloman Link, Kuala Lumpur, Malaysia. Photo: AMAR SYAZWAN ROSMAN/unsplash Malaysian company Pertama Digital Bhd announced on Tuesday that it has onboarded Infopro Sdn Bhd, a banking-as-a-service (BaaS) provider, to its consortium that is applying for a digital banking licence from the country’s central bank. Both parties are finalising the signing of consortium agreements, according to […]
Photo by Clay Banks on Unsplash Top Glove Corporation’s plan to list in Hong Kong to raise up to $1 billion has been delayed as the world’s largest rubber glove maker seeks to resolve a U.S. import ban on its products, sources with direct knowledge of the matter said. The Malaysian firm, which is already […]
FILE PHOTO – A security officer guards in front of the Axiata headquarters building in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said Malaysian telecoms firm Axiata Group Bhd has teamed up with RHB Bank Bhd to apply for a digital bank licence, two sources familiar with the matter told Reuters on Monday. The sources declined […]
Photo: Markus Winkler / Unsplash.com Malaysia’s Securities Commission said it has begun an investigation into oil and gas firm Serba Dinamik Holdings Bhd. In an emailed response to Reuters on Monday, the regulator said it had secured documents and records from Serba Dinamik to assist its investigation, following the submission of the report from the […]
Kuala Lumpur, Malaysia. Photo by Kah Hay Chee on Unsplash Malaysian oil and gas services firm Serba Dinamik Holdings Bhd said it did not see any problems with more than 3.5 million ringgit ($847 million) of contracts and transactions questioned by its auditor. In a stock exchange filing on Friday, Serba Dinamik said KPMG had not been able to verify contracts and […]
REUTERS/Beawiharta A first-quarter net loss at Malaysian flagship budget airline AirAsia Group Bhd narrowed 4.5%, primarily dragged down by depreciation in leased assets and interest on lease liabilities, a stock exchange filing on Thursday showed. However, the airline which marked its seventh consecutive quarterly loss, saw fair value gains on derivatives and said it had successfully negotiated for deferrals with lessors that resulted […]
Photo: REUTERS/Edgar Su Malaysian credit reporting agency CTOS Digital Bhd is looking to raise as much as 1.2 billion ringgit ($291.72 million) in an initial public offering aimed for the third quarter this year, two sources said. The listing, which could value the company at 2.4 billion ringgit, could come as soon as the end of July, […]
FILE PHOTO: Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the fund’s flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris Malaysian state fund 1Malaysia Development Berhad (1MDB) and its former unit SRC International have filed 22 civil suits seeking to recover more than $23 billion in assets […]
Brahmal Vasudevan. Photo: Creador Malaysia-headquartered private equity firm Creador is gearing up to sell 40% of its stake in CTOS Digital as the credit reporting agency looks to tap the Main Market of Bursa Malaysia to launch its IPO.
The Khazanah Nasional Berhad logo is displayed on a laptop. Photo: Thitikorn Suksao/DealStreetAsia Malaysia’s sovereign wealth fund Khazanah Nasional has returned to the US dollar sukuk market, garnering strong demand for its dual-tranche offering. In Islamic finance, a sukuk is a financial certificate similar to a bond. In a statement on Wednesday, Khazanah said it […]
Image taken from Ekuinas website. Malaysia government-linked private equity fund Ekuiti Nasional Bhd (Ekuinas) is looking to intensify its deal sourcing efforts as also tap thematic investment opportunities in fast-growing digital sectors.
Photo: Pixabay An unnamed investor has agreed to inject up to 3.15 billion baht ($100.41 million) into the Thai unit of AirAsia Group Bhd as part of a restructuring plan proposed by parent company Asia Aviation PCL , a Tuesday filing said. The investor will provide the amount via an interest-free convertible loan or bond, an Asia […]
Photo by Andrea Natali on Unsplash Nomu Pay has reached an agreement to acquire Wirecard Payment entities in Hong Kong, Malaysia, the Philippines, and Thailand; while Malaysian early-stage venture capital firm 1337 Ventures is teaming up with FWD Insurance to spur the fintech and insurtech startup ecosystem in Malaysia. Nomu Pay buys key Wirecard APAC […]
The KL Tower is seen, with a background of the cityscape in Kuala Lumpur, Malaysia. Two of the government agencies under Malaysia’s Ministry of Science, Technology and Innovation (MOSTI) will be restructured through a consolidation process that will create a new technology commercialisation agency. This new mandate, which was approved by the Cabinet on Wednesday, […]
The KL Tower is seen, with a background of the cityscape in Kuala Lumpur, Malaysia. Malaysia has issued $800 million worth of 10-year trust certificates, billed as the world’s first sovereign U.S. dollar sustainability sukuk as the proceeds will be used exclusively for green projects, the finance ministry said on Thursday. In addition, the Southeast […]
Malaysia’s Top Glove Corp Bhd has slashed the amount it planned to raise from its proposed listing of new shares in Hong Kong by almost half, as the appetite for glove counters could be affected by the rollout of the COVID-19 vaccine worldwide. The world’s biggest glove company said in a regulatory filing on Thursday […]
General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/Files American tech major Microsoft Corp is setting up its first data centre region in Malaysia. In a separate development, Grosvenor Asia Pacific, the Asian arm of London-based international property company Grosvenor Group, has invested in Australia-headquartered Taronga Ventures’s RealTech […]
Photo by Drew Hays on Unsplash Malaysia’s Top Glove Corporation said it had resolved all indicators of forced labour in its operations, citing a report by independent consultant Impactt Limited. The world’s largest medical glove maker said it had resolved all eleven indicators of forced labour as determined by the International Labour Organization. The resolution has been verified by Impactt in a report dated April 22, Top Glove added. Top Glove had appointed London-based Impactt to assess its trade, human […]
While Instahome can potentially solve a lot of problems for renters, agents, and landlords, is its business model truly scalable and sustainable?
It plans to use the new funds to further develop its operations in Malaysia and expand into Indonesia, Thailand, and Vietnam.
The fund will focus on investing in tech startups in Malaysia and the Philippines.
Launched last month as part of a pilot program, GrabSupermarket currently serves the Klang Valley, delivering over 2,500 products.
The startup said it has achieved operational profitability as of October and recorded its highest revenue in Q3 2020.
Malaysia is staking its claim as a hotspot for startup innovation.
Malaysia’s move to lead the region’s digital future involves supporting local startups in their efforts to go international.
Called Alpha Startups, the program aims to incubate and accelerate fintech and insurtech startups through investment, mentorship, and connections.