<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 19): Ekuiti Nasional Bhd (Ekuinas) increased its investments in the food and beverage (F&amp;B) business with the latest acquisition of an 85.76% stake in Revenue Valley Sdn Bhd.</p></div>
<div class=newsTextDataWrapInner><p>Ekuinas said on Thursday it invested RM64.70 million for the stake in Revenue Valley -- which owns and operates Manhattan Fish Market, the Malaysian franchise of Tony Roma’s and the Malaysia and Singapore franchises of Popeye’s.</p></div>
<div class=newsTextDataWrapInner><p>Ekuinas, which is the government-linked private equity fund management company, said the latest acquisition would see it having five complementary F&amp;B brands with a combined revenue of almost RM200 million over 97 outlets in Malaysia, Singapore and Thailand.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
<div class=newsTextDataWrapInner><p>It said the investment of RM64.70 million in Revenue Valley Group involved acquiring the existing stake, repayment of shareholders’ advances predominantly from Sweet Benefit Sdn Bhd and Creative Goal Sdn Bhd, which are existing financial investors in the company, and an additional capital injection into the group to finance the proposed aggressive outlet expansion programme.</p></div>
<div class=newsTextDataWrapInner><p>“The proposed investment is subject to fulfillment of conditions precedent and is expected to be completed by the first quarter of 2012,” it said</p></div>

KUALA LUMPUR (Jan 19): Ekuiti Nasional Bhd (Ekuinas) increased its investments in the food and beverage (F&B) business with the latest acquisition of an 85.76% stake in Revenue Valley Sdn Bhd.
Ekuinas said on Thursday it invested RM64.70 million for the stake in Revenue Valley -- which owns and operates Manhattan Fish Market, the Malaysian franchise of Tony Roma’s and the Malaysia and Singapore franchises of Popeye’s.
Ekuinas, which is the government-linked private equity fund management company, said the latest acquisition would see it having five complementary F&B brands with a combined revenue of almost RM200 million over 97 outlets in Malaysia, Singapore and Thailand.
It said the investment of RM64.70 million in Revenue Valley Group involved acquiring the existing stake, repayment of shareholders’ advances predominantly from Sweet Benefit Sdn Bhd and Creative Goal Sdn Bhd, which are existing financial investors in the company, and an additional capital injection into the group to finance the proposed aggressive outlet expansion programme.
“The proposed investment is subject to fulfillment of conditions precedent and is expected to be completed by the first quarter of 2012,” it said

Ekuinas buys 86.7% of Revenue Valley for RM64.70 m

Analysts are projecting a stronger showing from Sunway Construction Group Berhad (KL: SUNCON) in 4Q2024, driven by significant job progress, especially data centre-led projects.

Analysts expect stronger 4Q for Sunway Construction

KUALA LUMPUR (Nov 22): The Malaysia External Trade Development Corporation (Matrade) and the Vietnam Trade Promotion Agency (Vietrade) have taken a significant step in collaborating strategically to create new business opportunities, enhance economic resilience, and drive bilateral trade growth.

Matrade, Vietrade to strengthen bilateral trade promotion

KUALA LUMPUR (Nov 22): The Royal Malaysian Police (PDRM) may seek new testimony from existing witnesses that could provide additional insights into the investigation of Teoh Beng Hock’s death, following the court’s directive on Thursday (Nov 21).

IGP: Police to consult AG’s Chambers in completing investigation on Beng Hock

Malaysia's international reserves rebounded and added about US$400 million (RM1.79 billion) by the middle of November.

Malaysia's foreign exchange reserves rebounded to US$118b in mid-November, BNM data show

Some global banks are considering temporarily halting fresh credit to India's Adani Group but staying put with existing loans following US prosecutors' indictment of its billionaire founder Gautam Adani for fraud, sources said.

Global banks weigh halting fresh credit to India's Adani after US indictment — Reuters

BENGALURU (Nov 22): S&P Global Ratings lowered its outlook on three Adani Group entities to "negative" from "stable" on Friday, citing risks to funding access following a US indictment of the conglomerate's billionaire founder Gautam Adani on bribery charges.

S&P lowers outlook on three Adani units after US indictment of founder

Offshore oil-and-gas services firm Bumi Armada Bhd (KL:ARMADA) said on Friday its third quarter net profit rose 19% from a year earlier as operating margins expanded with lower costs.

Bumi Armada's 3Q net profit rises 19%, no update on merger with MISC's offshore unit

The Royal Malaysian Police (PDRM) has no information on the whereabouts of wanted businessman Jho Low, who is reportedly in Myanmar, said Inspector-General of Police (IGP) Tan Sri Razarudin Husain.

We have no information on Jho Low's whereabouts, says IGP

Japan is set to kick off discussions on raising the basic tax-free income allowance in effective permanent tax cuts worth up to US$51 billion (RM227.86 billion), a step that could also help ease constraints on part-time workers amid intensifying labour shortages.

Japan considering raising income tax threshold in fresh economic stimulus

GEORGE TOWN (Nov 22): Frequent water supply disruptions, high industrial land prices and talent shortages are among challenges faced by the Penang government in its effort to position the state as the Silicon Valley of the East.

Chow: Water supply disruptions, land prices among challenges in Penang’s Silicon Valley ambitions

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

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