VentureTECH
29
This fund is designed to play a strategic role in supporting Bumiputera companies in the high value-added and emerging industry market segments to scale up to their full potential. It also aims to attract additional investors to support the expansion of these companies during this economic recovery period. The strategic partnering with Japan’s SBI Ventures Malaysia, a reputable regional private equity player, is important in helping Malaysian industries build synergies and collaboration at the regional level, and in continuing to support their long-term growth as they strive to continue to scale up and compete in both the Malaysian and global markets. The initial fund targets to support technology industry leaders with their continued expansion in higher value-added production and services, and in improving productivity of the traditional industries through IR4.0 and IoT applications in areas such as agro-based smart farming and digital healthcare, which is in line with Malaysia’s MyDigital aspirations of increasing productivity by 30% across all sectors by 2030. Signing of Investment Agreement between VentureTECH and Gas Pantai Timur 16 December 2021 | Cyberjaya VentureTECH unveiled an initial RM2.5 million investment in Gas Pantai Timur Sdn Bhd (GPT), a wholly Bumiputera-owned company involved in the manufacturing and supply of medical and industrial gases throughout the country. This aims to help the company meet surging demand for oxygen gas cylinders at government hospitals as well as clinics, as the country continues its quest to overcome the COVID-19 pandemic. GPT is a major supplier of medical and industrial gases which include oxygen, acetylene and nitrogen all processed in gas plants located in Pengkalan Chepa Industrial Area, Kelantan and the newest in Gopeng Industrial Area in Perak.
The investment from VentureTECH will see GPT expanding its cylinder refilling station in Puchong for medical gases to serve hospitals in the central region, making it more accessible to serve the government hospitals and clinics. This marks VentureTECH’s sixth investment in the healthcare related market segments since its inception. With the addition of GPT, VentureTECH has invested and committed to invest in 24 technology industry leaders in the targeted biotechnology and biobased industries, and emerging and green industries, with aggregate investee net worth surpassing RM1.2 billion mark. The investment agreement was earlier signed by Dr. Norida Abd Rahman, Managing Director of VentureTECH and Puan Wan Hamimie Dato’ Wan Ari , Director of Gas Pantai Timur in VentureTECH’s o ce in Cyberjaya.
Made with FlippingBook - professional solution for displaying marketing and sales documents online