VENTURE CAPITAL POST

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.

Sources revealed that France-based Societe Generale would be issuing a USD 300 million Islamic bond program in Malaysia.

Malaysian Minister Paul Low said that the government would soon utilize phone tapping and employ internet monitoring devices to eradicate corporate and government corruption.

Biotech Corp said that it has already passed its investment target for this year.

Five investment projects were approved by Malaysia's National Key Economic Area today.

The Thales Group announced that they are set to ink the deal with Malaysia's Keretapi Tanah Melayu Bhd (KTMB) tagged at RM380 million.

During Huawei's product launch in Kuala Lumpur, the company stated that they are fighting to enter the top three in Malaysia's smartphone market.

Malaysia's Ranhill Energy and Resources is set to return the US $234 million funds it was able to raise following the IPO's cancellation.