Tencent May Acquire 15% Stake In Malaysia’s Patimas
Chinese Internet company Tencent may acquire a 15% stake in Patimas Computers, an information communication technology provider in Malaysia.
According to reports in Malaysian local media, it has not been decided yet if Tencent will acquire the stake directly or via other channels.
Media reports revealed that Tencent previously acquired a 5% stake via China Private Equity Investments Holdings Ltd.
Patimas Computers is an information communication technology provider in Malaysia and it has already been publicly listed in the country. The company’s services include ICT business infrastructure and cloud computing services, which are expected to help Tencent’s expansion in the local market.
Due to the market depression of PC-related products and services, Patimas Computers’ performance in recent years is not great. In addition, a recent audit investigation of the company found irregularities. During its latest financial year ended March 31, 2013, Patimas Computers made net losses of USD27.8 million.