Singapore’s Kendall Court emerges as Green Packet’s substantial shareholder
KUALA LUMPUR: Singaporebased Kendall Court has acquired 65 million shares in Green Packet Bhd at 70 sen apiece via a direct business transaction.
The private equity firm, which manages a more than US$600 million (RM2.5 billion) portfolio, has emerged as a substantial shareholder of Green Packet with a 7.1 per cent stake.
Kendall Court is an investment firm that manages equity-linked and mezzanine investments in Southeast Asia.
It has invested in natural resources, healthcare, consumer and telecom industries over the past decade.
Kendall Court founder Chris Chia said the firm had previously made a successful investment in Green Packet’s previous telecommunications subsidiary Packet One Networks (Malaysia) Sdn Bhd, now a unit of Telekom Malaysia Bhd.
“The first time it was only capital investment. This time, we look forward to contributing our knowledge and experience, particularly in Asean,” he said.
Kendall Court’s previous investment in the telecommunications company amounted to US$51 million.
“We have been monitoring the company’s progress and see prospects in its new ventures,” said Chia.