Fave co-founder joins 🇲🇾 perfume startup’s seed round

Scentses + Co, a Malaysia-based perfume startup, has raised an undisclosed amount of seed funding from Fave co-founder Yeoh Chen Chow as well as Malayan United Industries (MUI) Group through its venture arm Pan Malaysia Ventures. Founded by sisters Sadira Yeong and Sabreena Yeong in July 2020, Scentses + Co offers perfume subscription services that allow customers to get different products…

Scentses + Co Enters Strategic Partnership with MUI Group

Scentses + Co, Malaysia’s first designer perfume subscription service that allows subscribers to discover different designer perfumes every month, has announced a strategic partnership and a lead investment from Malayan United Industries Bhd (MUI) through its venture arm, Pan Malaysia Ventures Sdn Bhd under Pan Malaysia Corporation Bhd. By leveraging the strength and backing of…

MUI group to sell UK hotel for RM36.22mil

KUALA LUMPUR: Malayan United Industries Bhd (MUI) has inked a deal to sell a 4.2-acre freehold land together with a hotel in Britain for £6.5mil cash (RM36.22mil) to Westbourne Leisure Ltd. In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary The Regency Hotel Hospitality Ltd had entered into an agreement with Westbourne on Dec…

MUI to sell 111-room UK hotel for RM36m

KUALA LUMPUR (Dec 31): Malayan United Industries Bhd (MUI) has said its British unit is disposing of a land together with a 111-room hotel in Shirley, West Midlands for £6.5 million (RM36.22 million). The Regency Hotel Hospitality Ltd, a wholly-owned indirect subsidiary, is selling the property to Westbourne Leisure Ltd, MUI said in a bourse…

Richest Families in Southeast Asia Look for the Next Unicorn

Some of Southeast Asia’s old-money tycoons are boosting investment in technology startups, looking to ride a wave of surging valuations as they seek to counter the fallout of the pandemic on businesses ranging from retail to hospitality and manufacturing. Holding companies, family investing arms and other vehicles of moguls from Thailand’s Dhanin Chearavanont to the…

Frankly Speaking: PM Corp joins bandwagon

It has been a long time since the asset-rich but cash-flow-light MUI group of companies undertook a corporate transaction in the country. When it finally took to putting money in the local scene again, it went into one of the most competitive industries. Earlier last week, Pan Malaysia Corp Bhd (PMC), a member of the…

Good sign from MUI startups

PETALING JAYA: With the Covid-19 pandemic ruining most companies’ growth plans, some have scrambled to find other businesses to ensure their survival. In the case of Malayan United Industries Bhd (MUI), the pandemic has cut deep because the group is involved in sectors that are deemed most vulnerable to Covid-19 such as hotels and retail and to…

Malaysian conglomerate MUI to step up focus on startup investments

Malaysia’s listed diversified conglomerate Malayan United Industries Berhad (MUI) – whose business interests spanfrom confectionery to property – is betting big on startup investments to capitalise on the digitalisation boom.MUI created an early-stage venture capital vehicle Pan Malaysia Ventures Sdn Bhd (PMV) in August last year to invest in tech or tech-enabled businesses at the…