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(Oct 28): The owners of Jaya Grocer are weighing selling a controlling stake in a deal that would value Malaysia’s biggest high-end supermarket chain at more than US$200 million, according to people with knowledge of the matter. Sign up VERIFICATION EMAIL. File picture of a shopper picking her fresh produce from a local supermarket. Subscribe to t.me/BizTimes. Email us at btuserfeedback@sph.com.sg By signing up, you agree to our Privacy Policy and Terms and Conditions. Deliberations are ongoing and there is no certainty that a deal will proceed, said the people. PETALING JAYA: The Teng family, best known as the founders of the Giant retail chain from which they divested in 1999, will continue to manage and majority-own the Jaya Grocer … The family could decide to keep part of their stake, they said. The family could decide to keep part of their stake, they said. Tuesday, 05 May 2015 08:33 PM MYT. [KUALA LUMPUR] The owners of Jaya Grocer are weighing selling a controlling stake in a deal that would value Malaysia's biggest high-end supermarket chain at more than US$200 million, according to people with knowledge of the matter. Non-binding bids are due as soon as next month, the people said, asking not to be named as the process is private. Stay updated with BT newsletters Your feedback is important to us Jaya Grocer started in 2007 with its first outlet in Jaya 33 in Petaling Jaya. Bloomberg reported that the deal could value the supermarket chain at US$200 million (RM831.1 million) and … Jaya Grocer, which was founded in the mid-2000s, has 35 outlets across the Southeast Asian nation and offers online shopping and delivery, according to its website. Tell us what you think. Representatives of Jaya Grocer and Mitsubishi did not respond to requests for comment. Please confirm for access to all your SPH accounts. It has 16 outlets located mainly in the Klang Valley including The Intermark, Empire Shopping Gallery and KLIA2. Our website is made possible by displaying online advertisements to our visitors. RESEND [KUALA LUMPUR] The owners of Jaya Grocer are weighing selling a controlling stake in a deal that would value Malaysia's biggest high-end supermarket chain at more than US$200 million, according to people with knowledge of the matter. PRIME US Reit reported a net property income of US$24.2 million in the third quarter, exceeding IPO projections by 9... ROBINSONS Singapore has changed the spending requirement on outstanding Robinsons gift cards and vouchers. Calls to the Teng family's Trendcell were not returned. Email us at btuserfeedback@sph.com.sg, For daily updates on weekdays and specially selected content for the weekend. Representatives of Jaya Grocer and Mitsubishi did not respond to requests for comment. Trendcell was charged with unreasonably high profit through the sale of lady’s fingers at the Jaya Grocer premises in Bangi. AIGF was set up in 2015 as a private equity fund between Mitsubishi, Malaysian financial firm CIMB Group and the Development Bank of Japan Inc, according to a press statement. A representative for CIMB declined to comment on the matter. The Teng family, who founded the supermarket, and the Asean Industrial Growth Fund (AIGF), whose backers include Japan's Mitsubishi, are working with an adviser on the potential stake sale, the people said. Deliberations are ongoing and there is no certainty that a deal will proceed, said the people. Jaya Grocer chain owners weigh stake sale — sources TheEdge Wed, Oct 28, 2020 03:18pm - 4 weeks ago (Oct 28): The owners of Jaya Grocer are weighing selling a controlling stake in a deal that would value Malaysia’s biggest high-end supermarket chain at more than US$200 million, according to people with knowledge of the matter. Jaya Grocer's owner Trendcell charged under Price Control and Anti-Profiteering Act. Calls to the Teng family’s Trendcell Sdn Bhd were not returned. 198402668E, premium content on your favourite platforms, Robinsons to honour gift cards and vouchers but spending requirement raised, World food price index rises in Oct for fifth month running: FAO, Convenience Retail plans HK$2.79b sale of Circle K stores to Canadian fuel retailer, Nestle using insect protein in Purina pet food, Vietnam coffee market subdued ahead of main harvest in upcoming weeks, Must be love: Tokyo 'clinic' treats stuffed toys, Prime US Reit's Q3 net property income exceeds IPO projections, UG Healthcare posts 74-fold increase in Q1 net profit to S$22.7m, China fuel-cell startup seeks funds, predicts hydrogen car boom, Broker's take: DBS downgrades SIAEC to 'hold' on slower MRO unit recovery, Phase Three of Singapore's reopening could last for a year or more: Gan, DBS Q3 profit skids 20%; OCBC's earnings drop 12%, HDB resale prices rise for fourth month in October: SRX, Stocks to watch: DBS, OCBC, UOB, Yangzijiang, Manulife US Reit, Trek 2000. Tell us what you think. By signing up, you agree to our Privacy Policy and Terms and Conditions. Jaya Grocer, which was founded in the mid-2000s, has 35 outlets across the South-east Asian nation and offers online shopping and delivery, according to its website. Non-binding bids are due as soon as next month, the people said, asking not to be named as the process is private. KUALA LUMPUR, Oct 28 — The owners of Jaya Grocer in Malaysia are contemplating selling a controlling stake in the company, sources said. AIGF was set up in 2015 as a private equity fund between Mitsubishi, Malaysian financial firm CIMB Group Holdings Bhd and the Development Bank of Japan Inc, according to a press statement. Hello, your email is unverified. GLOVE manufacturer UG Healthcare Corporation on Thursday reported net profit of S$22.7 million for the first fiscal... [BEIJING] China's push for more fuel-cell vehicles is inspiring startup Anhui Mingtian Hydrogen Energy Technology to... © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. A representative for CIMB declined to comment on the matter. Read more at The Business Times. The Teng family, who founded the supermarket, and the Asean Industrial Growth Fund, whose backers include Japan’s Mitsubishi Corp, are working with an adviser on the potential stake sale, the people said. @media (min-width: 768px) { .sm-text-left {text-align: left; } }. Selected content for the weekend in Petaling Jaya us at btuserfeedback @ sph.com.sg for!, asking not to be named as the process is private ) { {! Sph.Com.Sg, for daily updates on weekdays and specially selected content for the weekend her fresh from... Picture of a shopper picking her fresh produce from a local supermarket the.! Of lady ’ s fingers at the Jaya Grocer premises in Bangi you think certainty... 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