CORPORATE

CXS Ramps up Malaysia Re-Domiciling with Global Partners Conference

 |  Thursday, 21 September 2017 13:38  |  Published in CORPORATE

Malaysia’s latest re-domiciling effort, workforce and talent analytics platform – CXS International, known as CXS Analytics Sdn Bhd in Malaysia (CXS) – revealed more details yesterday on its decision for moving its global headquarters to Malaysia and how it will continue to engage its partners around the world. That and what it intends to do once the transition is complete are the main topics at the first CXS Global Partner Conference for Southeast Asia.

Held in the heart of Cyberjaya, the event hosted 19 CXS global partners and other potential clients as they sit in and gain insights on the critical updates from the talent analytics service provider since it uprooted its entire Norwegian operations and moved it to Malaysia. 

Daya Completes Disposal Of Siem Daya 1

 |  Thursday, 21 September 2017 13:35  |  Published in CORPORATE

Further to the shareholders’ approval at the Extraordinary General Meeting convened on 21 June 2017, Daya Materials Berhad (“DMB” or the “Group”) has today completed the disposal of its offshore subsea construction vessel, Siem Daya 1 (“SD1”) via the disposal of the Group’s wholly-owned subsidiary, Daya Global 1 Pte Ltd (“DG1PL”) to Siem OCV Pte Ltd (“Siem OCV”), an indirect wholly-owned subsidiary of Siem Industries Inc for a total consideration of USD$100 million (equivalent to approximately RM418.5 million). 

The disposal of SD1 marks the Group’s exit from its offshore subsea business and is a strategic move for DMB to strengthen the financial position of the Group as the disposal will significantly reduce the Group’s debts by approximately 62% or RM406.9 million from RM660.0 million (as at 31 December 2016) to RM253.1 million, resulting in a significant reduction in its gearing level, as well as enhancing its financial position.  

MUFG Sells Its Stake In Cimb Group Holdings Berhad

 |  Wednesday, 20 September 2017 16:07  |  Published in CORPORATE

CIMB Group Holdings Berhad ("CIMB" or "the Group") today announced that Mitsubishi UFJ Financial Group’s (“MUFG”) banking entity, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”) had sold its entire stake of 412 million CIMB shares (equivalent to a 4.6% stake) via an overnight block trade. The divestment was part of MUFG's strategic global master plan which included a review of its portfolio of existing investment in affiliates. 

MUFG’s Asia & Oceania network spanned 15 countries, including Malaysia, where MUFG’s presence had been enhanced by its capital investment in CIMB, which was made in various stages from 1974 onwards. Notwithstanding the divestment, both MUFG and CIMB would maintain their current collaboration founded on a mutually beneficial 40-year partnership. 

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