VENTURE CAPITAL POST

Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).

Former Malaysian Prime Minister Mahathir Mohamad told reporters that he had stepped down from his post as an adviser to Petronas, the state-run oil firm.

Indonesia's Information and Communication Technology Ministry has finally approved the acquisition of PT Axis Telekom Indonesia (Axis) by PT XL Axiata (EXCL) on November 28.

Brazilian oil company OGX is reportedly in talks with bondholders about a USD150 million capital infusion in the struggling firm. OGX previously reported a loss of BRL2.1 billion and filed for bankruptcy with USD4 billion in debt.

Malaysian packaging solutions firm Kian Joo Can Factory Bhd got a MYR1.46 billion cash takeover bid from privately owned company Aspire Insight Sdn Bhd at MYR3.30 per share.

The Malaysian consortium made up of Sime Darby Property, SP Setia Bhd and the Employees Provident Fund, have secured GBP790 million in syndicated funding to acquire the Battersea Power Station in the United Kingdom.

Malaysia's Seven Convenience Bhd. has postponed its planned initial public offering until March next year. The 7-Eleven convenience store chain, which filed for an IPO in September, is expected to sell 530.3 million shares in Bursa Malaysia.

The skyrocketing prices of properties in Singapore led to a corresponding property boom in Malaysia where overseas buyers are targeting to buy homes, according to a Bloomberg report.

Washington-based private equity firm Carlyle Group LP expressed its interest on bolt-on acquisitions in Malaysia, citing its very good experience with the acquisition of Davex Holdings Bhd last year.

Italian life and non-life insurance company Generali bought a 40% stake in Generali Asia for EUR40 million. Generali Asia is a joint venture of Generali and Banca della Svizzera Italiana in Switzerland.

Singapore-based consumer-to-consumer marketplace mobile startup Carousell snagged USD800,000 in seed funding to be used for the development of its app and expansion efforts in Southeast Asia.

Netherlands-based LED lighting solutions developer Ledzworld recently received USD5 million in funding to be used for the acceleration of its sales, manufacturing, and global expansion.

The experience of some Muslim dominated countries as to tapping Islamic pension funds for capitalization had reaped benefits.

Virgin Mobile Middle East and Africa had introduced new telecom services in Malaysia.

Sources told Reuters that RHB Bank of Malaysia would poach Maybank's Indonesian unit head Khairussaleh Ramli and appoint him as RHB's new Deputy CEO.