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About ASEAN Industrial Growth Fund

ASEAN Industrial Growth Fund (AIGF) is a Singapore-based private equity firm.

ASEAN Industrial Growth Fund Headquarter Location

Singapore

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Latest ASEAN Industrial Growth Fund News

Jaya Grocer weighing majority stake sale: Bloomberg

Oct 29, 2020

According to sources, the deal could value the business at over USD 200.00 million. Jaya Grocer is backed by founders the Teng family, Asean Industrial Growth Fund and Japan’s Mitsubishi, among others, which are working with an advisor on the potential sale, the insiders noted, asking not to be identified as the situation is still private. Non-binding offers are expected to be tabled as soon as next month, sources told Bloomberg, cautioning discussions are still ongoing and there is no guarantee of an announcement being made. The Teng family may decide to retain part of their stake, the insiders noted. Jaya Grocer was founded in the mid 2000’s and supplies fresh produce and household goods on shelf serving local communities from 35 outlets, according to its website. When contacted by Bloomberg, representatives of the company and Mitsubishi did not respond to requests for comment, while calls to the Teng family’s Trendcell were not returned. Zephyr, the M&A database published by Bureau van Dijk, shows there have been 639 deals targeting Malaysian companies announced worldwide in 2020 to date. In the largest of these, Nippon Paint Holdings has agreed to acquire remaining stake in Asian joint ventures from Wuthelam Holdings for JPY 1,050 billion (USD 10.03 billion). This was followed by Tesco, via Tesco Holdings and Sime Darby subsidiary Sime Darby Allied Products, agreeing to sell Tesco Stores Malaysia to CP Group for USD 700.00 million. Other large deals involved IGB Commercial REIT, Hibiscus Petroleum and Chailease International Company Malaysia. © Zephus Ltd According to sources, the deal could value the business at over USD 200.00 million. Jaya Grocer is backed by founders the Teng family, Asean Industrial Growth Fund and Japan’s Mitsubishi, among others, which are working with an advisor on the potential sale, the insiders noted, asking not to be identified as the situation is still private. Non-binding offers are expected to be tabled as soon as next month, sources told Bloomberg, cautioning discussions are still ongoing and there is no guarantee of an announcement being made. The Teng family may decide to retain part of their stake, the insiders noted. Jaya Grocer was founded in the mid 2000’s and supplies fresh produce and household goods on shelf serving local communities from 35 outlets, according to its website. When contacted by Bloomberg, representatives of the company and Mitsubishi did not respond to requests for comment, while calls to the Teng family’s Trendcell were not returned. Zephyr, the M&A database published by Bureau van Dijk, shows there have been 639 deals targeting Malaysian companies announced worldwide in 2020 to date. In the largest of these, Nippon Paint Holdings has agreed to acquire remaining stake in Asian joint ventures from Wuthelam Holdings for JPY 1,050 billion (USD 10.03 billion). This was followed by Tesco, via Tesco Holdings and Sime Darby subsidiary Sime Darby Allied Products, agreeing to sell Tesco Stores Malaysia to CP Group for USD 700.00 million. Other large deals involved IGB Commercial REIT, Hibiscus Petroleum and Chailease International Company Malaysia. © Zephus Ltd

ASEAN Industrial Growth Fund Investments

1 Investments

ASEAN Industrial Growth Fund has made 1 investments. Their latest investment was in KMC Solutions as part of their Series A on April 4, 2019.

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ASEAN Industrial Growth Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/10/2019

Series A

KMC Solutions

Yes

2

Date

4/10/2019

Round

Series A

Company

KMC Solutions

Amount

New?

Yes

Co-Investors

Sources

2

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