TPG Asia CEO, Ganen Sarvananthan, is a Malaysian Indian who was formerly Khazanah head of investment.
Ganen joined Khazanah in 2004 from UBS Investment Bank, Hong Kong, where he was the director of equity capital markets, having previously served UBS’ investment banking/corporate finance departments in London and Singapore. Ganen is a barrister-at-law (Lincoln’s Inn, London), having graduated with LLB (Hons) from University College London. He was a recipient of the British Chevening, HRH Sultan Azlan Shah and Asean scholarships.
Question:
Sime Darby is selling their health care business to Columbia Group, a non-bumi entity. Earlier on, Boustead’s plan to sell their plantation business to another non-bumi entity, KLK, had to be called off when bumi politicians made a lot of noise. Why no noise when Sime Darby is selling their assets to Columbia Group, which is not even a Malaysian company?
Saya tanya aja......
ANSWER:
Why should we care if its a non bumi or non local buying up any local assets? US and Europe do not care unless its a sensitive supplier to military or high end tech products.
We need to look at the sapura bail out by PNB during Wahid omar's time as ceo. How much was pumped into it. I heard it was RM2 bil plus another loan of RM2 bil from maybank. The young bugger who replaced wahid made such a big fuss over this so muhyiddin kicked him out.
So pnb had to sell perodua to sime to raise some cash stuck in the useless investment.
On boustead, its up to the board to sell its plantation unit or…
Unlikely,since Ramsay needed to divest their 50 % holding to lock in a huge capital gains and reduce debt Similarly Sime needs the money to acquire Toyota UMW to concentrate on their core motor distribution business. It was a mutually beneficial deal for both business groups.