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KUALA LUMPUR, 1 June, 2021 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Southeast Asia’s leading property technology (‘Proptech’) company and REA Group (ASX:REA), an ASX listed digital business specialising in property marketplaces and data assets, today announced they have entered into an agreement whereby PropertyGuru will acquire all of the shares in REA Group’s operating entities in Malaysia and Thailand, which operate iProperty.com.my and Brickz.my in Malaysia and thinkofliving.com and Prakard.com in Thailand. As part of the agreement, REA Group will receive an 18% equity interest in the enlarged PropertyGuru Group and appoint a Director to the Board. The transaction is expected to close in July 2021.
The move underscores the rising importance of Malaysia in Southeast Asia’s Proptech industry in general and for PropertyGuru in specific. A key objective of the transaction is to accelerate the development of the Proptech industry in Malaysia. The addition of iProperty.com.my and Brickz.my will bolster PropertyGuru Malaysia’s ability to provide consumers with the most diverse digital marketplaces, together with the most comprehensive set of data, actionable insights and services to support homeownership aspirations of Malaysians.
Ahmad Izmir Mujab, Chief Executive Officer of Crewstone International Sdn Bhd, a private equity firm based in Kuala Lumpur Malaysia, shares insights into the inner workings of investment decisions in an effort to bridge this gap to allow entrepreneurs to raise funding more effectively.
Due to the global COVID-19 pandemic, investors have become more selective with their investments now more than ever, and for good reasons. Market volatility, combined with the uncertain economic outlook for most industries, has made it more difficult for most startups and businesses to raise funds for sustenance or growth.
According to investment professionals, the strategy gap between startups and investors has never been so wide. But with the right mindset and approach, startups and businesses will be able to put themselves in the shoes of their investors to secure a much-needed investment in this post-COVID-19 era.
