MY Digest: Berjaya Land ventures into Iceland; Bank Pembangunan, Maxis make new appointments


Berjaya Land Bhd has proposed to fully acquire Iceland-based company Gerisgata 11 EHF (GE11) and settle its loan for a collective amount of $13.99 million.

Malaysia’s Khazanah to declare $240m dividend payout for 2019

Among Khazanah’s biggest divestments last year was 16 per cent stake sale in IHH Healthcare Bhd to Japan’s Mitsui & Co. Ltd for $2 billion in cash.

Malaysia’s EPF to tap new markets, greater PE play but equities to remain mainstay

The fund recorded a gross investment income of RM50.88 billion ($12.48 billion) in 2018.

Khazanah asks Malaysia Airlines to produce turnaround plan

Ringgit weakness and escalating jet fuel costs have caused the Malaysian carrier to miss two profitability deadlines.

Malaysia’s Khazanah looks to reset strategy to replenish govt coffers

The fund will look to trim stakes in companies identified as non-strategic to 15-25% and reduce its physical presence in locations such as London, Mumbai and Silicon Valley.

PayPal to close Malaysia operations by year-end, offers staff VSS

The work currently being delivered at its operations centre in Malaysia will gradually move to other locations.

Lazada Malaysia appoints former Taobao executive as new CEO

Alibaba-backed e-commerce platform Lazada has announced former Taobao executive Leo Chow as the new CEO of its Malaysian operations.

Malaysia’s Frontier Digital Ventures to focus on existing portfolio consolidation

The digital classifieds operator also intends to go slow on making new investments, given the current market conditions.

Targeted govt intervention needed to spur VC ecosystem, says SC Malaysia

The report proposed eight recommendations to the SC which include the restructuring of existing public VCs to be more commercially-driven.

Malaysia’s state-owned Felda said to end ties with Indonesia’s Rajawali

Felda has been considering an exit from the deal which was signed in 2017 to acquire a 37 per cent stake in Rajawali’s Eagle High Plantations.