acquires

 
 

Google acquires Fossil smartwatch tech for US$40m

SAN FRANCISCO, Jan 18 ― Google agreed to pay US$40 million (RM164.5 million) for the smartwatch technology of the fashion and accessory group Fossil, the companies said yesterday, enabling the California tech giant to expand in the growing…


Rev Asia acquires 25pc stake in Chinese news portal

KUALA LUMPUR, Jan 2 ― Media Prima Digital Sdn Bhd’s (MPD) unit, Rev Asia Holdings Sdn Bhd, has acquired a 25 per cent stake in Monster Scape Sdn Bhd, the owner and publisher of Chinese language social news portal, TanTanNews. As part…


Petronas acquires 10 per cent stake in Block 61 onshore Oman

KUALA LUMPUR: Petronas, through its subsidiary, PC Oman Ventures Ltd (PCOVL), acquired a 10 per cent stake in Block 61, onshore Oman from Makarim Gas Development LLC (MGD), a subsidiary of Oman Oil Company Exploration & Production LLC (OOCEP), after the conditions for the completion of the transaction were fulfilled. The completion of the transaction […]


Petronas acquires 10pc stake in Oman’s al Khazzan gasfield

KUALA LUMPUR, Dec 29 — Petroliam Nasional Bhd (Petronas), through its subsidiary PC Oman Ventures Ltd, has acquired a 10 per cent stake in Block 61 of Oman’s Al Khazzan gas field from Makarim Gas Development LLC. Makarim Gas is a subsidiary of…


Sunway REIT acquires properties worth RM550m

KUALA LUMPUR, Dec 24 — Sunway Real Estate Investment Trust (Sunway REIT) has acquired lands and buildings worth RM550 million from Sunway Destiny Sdn Bhd, a wholly-owned subsidiary of Sunway Bhd. The acquisition include three parcels of leasehold…


EU should worry about Huawei, other Chinese firms, says official

BRUSSELS, Dec 8 — The European Union and its citizens should be “worried” about telecoms giant Huawei and other Chinese firms that cooperate with Beijing’s intelligence services, a senior EU official warned yesterday. Huawei quickly hit back…


Serba Dinamik acquires 30% interest in Indian IT company

PETALING JAYA: Serba Dinamik Holdings Bhd, which acquired a 30% stake in India based IT company, eNoah iSolutions India Pvt Ltd, will be allocating RM30 million for the company to undertake projects in the coming year.

eNoah offers cutting edge business process outsourcing and IT solutions to Fortune 500 companies worldwide, in the integrated health, insurance, manufacturing and automative domains.

The diversified group via its wholly-owned subsidiary Serba Dinamik IT Solutions Sdn Bhd (SDIT), today entered into a share and purchase agreement with the 12 shareholders of eNoah for the stake buy.

Simultaneously, SDIT also inked a shareholders agreement with eNoah and the remaining existing shareholders of the company to regulate the affairs of the company.

For starters, the company is looking to bid for an infrastructure job in Singapore which is worth some SG$500-800 million.

Serba Dinamik’s group CEO Datuk Dr.Ir Mohd Abdul Karim Abdullah said through eNoah, Serba Dinamik is looking to tap into the populous Indian market as well as to leverage on its international client base in the US, Singapore and Australia.

He said they are also looking to tap into eNoah’s pool of talent and expertise.

In turn, eNoah will be leaning on Serba Dinamik for funding, regulating company affairs as well as tapping into the Middle East, where Serba Dinamik already has a footing.


Serba Dinamik acquires 30% of India’s eNoah iSolutions

PETALING JAYA: Serba Dinamik Holdings Bhd, which acquired a 30% stake in India based IT company, eNoah iSolutions India Pvt Ltd, will allocate RM30 million for the company to undertake projects in the coming year.

eNoah offers cutting edge business process outsourcing and IT solutions to Fortune 500 companies worldwide, in the integrated health, insurance, manufacturing and automotive domains.

The diversified group via its wholly owned subsidiary Serba Dinamik IT Solutions Sdn Bhd (SDIT), today entered into a share and purchase agreement with the 12 shareholders of eNoah for the stake buy.

Simultaneously, SDIT also inked a shareholders agreement with eNoah and the remaining existing shareholders of the company to regulate the affairs of the company.

The US$3.6 million or RM14.94 million acquisition will be funded by the proceeds raised during its initial public offering (IPO) last year.

For starters, the company is looking to bid for jobs in Singapore worth some S$500-800 million (RM1.52-2.43 billion).

“We are collaborating and tendering for some of the sizeable jobs in Singapore. (In the) Infrastructure sector they do have IT-related and other engineering components which we can contribute. So it is a multi-discipline bid we are participating in at the moment,” Serba Dinamik’s group CEO Datuk Dr Ir Mohd Abdul Karim Abdullah told reporters after the signing ceremony.

With the acquisition of interest in eNoah, the revenue contribution of the group’s IT segment could increase to 2-2.5% as the segment’s current contribution stood at below 2%.

In the third quarter ended Sept 30, Serba Dinamik’s other segments which include technical training, ICT solutions and supply of products and parts divisions saw a 110.3% jump in revenue to RM2.92 million from RM1.39 million.

Abdul Karim said through eNoah, Serba Dinamik is looking to tap into the populous Indian market as well as to leverage on its international client base in the US, Singapore and Australia.

He said it would also allow Serba Dinamik to tap into eNoah’s pool of talent and expertise.

In turn, eNoah will be leaning on Serba Dinamik for funding, regulating company affairs as well as expanding into the Middle East, where Serba Dinamik already has a footing in.

SDIT also intends to utilise eNoah’s capabilities to develop artificial intelligence centric solutions, augmented reality as well as system and software for robotic technology.


IHH’s share price up 10.28% as Japan’s Mitsui acquires additional 16% stake for RM6 per share

PETALING JAYA: IHH Healthcare Bhd’s share price rose as much as 10.28% to RM5.79 this morning, as Japan’s Mitsui & Co., Ltd acquired an additional 16% stake form Khazanah Nasional for RM6 a piece.

At 12.04pm, the stock was trading at RM5.61 with 9.50million shares done. IHH was the fourth among the top gainers at early trade.

The sovereign wealth fund will be divesting 16% of its shareholding to Mitsui & Co., Ltd for a cash consideration of RM8.42 billion.

This will result in Khazanah’s shareholding being reduced to 26.05% based on the enlarged share capital of IHH after the completion of the acquisition of 30% additional equity interest in Acibadem Saglik Yatirimlari Holding A.S by IHH.

Meanwhile, Mitsui’s equity interest will increase to 32.9%.

The deal is expected to be completed by the first quarter of next year.


Serba Dinamik acquires 70% stake in training firm

PETALING JAYA: Serba Dinamik Holdings Bhd’s indirectly owned subsidiary Telegistics Asia Sdn Bhd is acquiring a 70% stake in Materials Technology Education Sdn Bhd (MTE) for RM480,000 to expand its technical training programs capabilities.

The group told the stock exchange that the purchase will be satisfied entirely in cash, which will be sourced from the proceeds of the group’s initial public offering exercise completed last year.

MTE delivers Institute of Materials Malaysia’s (IMM) training and certification programs in Malaysia.

“Over the years, MTE has conducted IMM courses on coatings, corrosion, cathodic protection, welding and vibration in support of the oil and gas industry in Malaysia. IMM has trained and certified over 600 coatings inspectors and 2,500 blasters & painters, supervisors, corrosion technicians, cathodic protection technicians and engineers. In addition, IMM certification programs are recognised by Petronas and other oil and gas operators,” the group said.

Following the completion of the proposed acquisition, the group will be able to expand its technical training programs capabilities, which is a critical supporting service to the group’s operation and maintenance business operations.

In addition to that, this will also enable Serba Dinamik to provide extensive technical training programs and courses as part of its maintenance, repair & overhaul, as well as inspection, repair & maintenance services package.

The stock price fell 0.26% to RM3.86 with 452,000 shares done.