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RAJA’S RULE
Decolonisation and revolution long ago removed royal families from power in most of Asia, leaving Japan’s emperors as the last hereditary monarchs of much significance to periodically exert some subtle influence.
But the past year has seen the region’s most abundant class of royals – the rajas and sultans of the old Malay dynasties – exert unexpected power over the country’s fragmenting political parties.
Nine of the Malaysian states are constitutionally headed by traditional Malay rulers who meet every five years to elect a king, or Yang di-Pertuan Agong, as the national head of state.
On Monday July 26, the Malaysian Parliament resumed sitting after the longest suspension since 1969 due to the COVID-19 crisis which had allowed Prime Minister Muhyiddin Yassin to avoid testing whether he actually had a majority. But the prime minister was aiming to avoid any votes which would test his fragile majority.
Malaysian digital media group REV Asia renames to Catcha Digital Details 29 July 2021
REV Asia has changed its name and logo to Catcha Digital. According to the company, this switch marks a new beginning and direction for Catcha Digital and embodies Catcha Group’s active participation within the company’s day-to-day operations.
It is also in line with the Group’s goals to become a major player across all segments of digital businesses. Catcha Digital aims to accelerate its growth through expanding its digital operations, strategic digital investments and value-adding M&A.
Patrick Grove, director of Catcha Digital said that through its experiences co-founding iProperty, Frontier Digital Ventures and Malaysia’s latest unicorn, Carsome Group, it has learnt that big digital businesses can be built from the grounds of Malaysia. He added that the company has also learnt that partnering with great entrepreneurs can accelerate disruptio
Carsome’s co-founder and group CEO Eric Cheng: “This is the first step toward consolidation to form the largest digital automotive group in terms of revenue, user base, largest live listing, and the best end-to-end fulfilment capability in the region.”
KUALA LUMPUR (July 13): Carsome Group announced today that it is acquiring 19.9% of Australia-listed iCar Asia Ltd from Catcha Group.
It added that Carsome and Catcha Group have made a joint proposal to the independent directors of iCar Asia to acquire the balance of 80.1% of iCar from its shareholders.
The total transaction is estimated to be worth more than US$200 million, said Carsome in a statement.
Carsome Group will acquire iCar Asia in a deal worth $200M
Southeast Asia’s car marketplace wars are going into high drive. Today Carsome Group, one of the region’s largest online used car marketplaces, said it plans to acquire listings platform iCar Asia in a transaction worth more than $200 million.
Carsome has agreed to acquire 19.9% of iCar Asia from Malaysia internet conglomerate Catcha Group. In exchange, Catcha Group will become a shareholder in Carsome Group. Carsome and Catcha Group have also made a joint proposal to iCar Asia’s directors to buy the rest of the company from its shareholders.