China Private Equity Investment backs Malaysia’s Patimas Computers

According to a regulatory filing, the PE firm, which is listed on London's AIM bourse, purchased 43 million shares at MYR0.10 apiece for a total consideration of MYR4.3 million ($1.38 million). It now holds a 5.2% stake in Patimas.

Datuk Seri Abdul Azim Zabidi, former chairman of Bank Simpanan Nasional, earlier claimed to be in talks to bring in a foreign strategic partner to assist the company. Zabidi bought 45 million shares in Patimas for MYR4.5 million on January 11 and subsequently increased his holding to 55 million shares.

Patimas announced a pre-tax loss or MYR8.58 million for the quarter ended September 2012 with revenues of MYR6.98 million. The third quarter deficit accounted for more than half the year-to-date pre-tax loss of MYR13.5 million.

CPEH claims to offer European investors to Chinese PE without the limitations imposed by closed-end funds. Last year it formed an alliance with Gen2, a Hong Kong-based asset management firm that focuses on Greater China private equity opportunities.

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• Topics
• Greater China
• Southeast Asia
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• PIPEs
• Malaysia
• Southeast Asia
• TMT
• PIPE