ECM Libra Avenue Berhad Comeback with RM 1 billions deals
ECM Libra Avenue Berhad is poised to make a strong comeback on the investment banking scene following some sweeping changes within the group and about RM1 billion of deals in the pipeline, an official said.
ECM Libra Avenue Berhad is poised to make a strong comeback on the investment banking scene following some sweeping changes within the group and about RM1 billion of deals in the pipeline, an official said.
The group will focus on investment banking and private equity, and it already has RM1 billion worth of M&A/private equity type deals in the pipeline
ECM Libra Avenue Berhad Reappoinment of Datuk Kalimullah Hassan and Lim Kian Onn
The group announced late yesterday the appointment of Datuk Kalimullah Hassan as its executive chairman and chief executive officer (CEO), and Lim Kian Onn as its managing director, effective May 1.
Kalimullah is currently ECM's non-executive chairman, while Lim is its non-independent non-executive director.
ECM, which saw an exodus of staff while undergoing an internal restructuring after the merger between ECM Libra Bhd and Avenue Capital Resources Bhd early last year, has in recent months also been filling up key positions with industry professionals.
This includes the appointments of T. Jeyaratnam, formerly of Aseambankers, as its deputy CEO and Stephen Weller - formerly of Southern Investment Bank and Citigroup - as its head of the equity capital market.
Now that the internal restructuring has been completed and top jobs have been filled, the group is ready to make a comeback, Jeyaratnam told Business Times.
He said ECM, with shareholders' funds of RM872 million, wants to position itself in two main areas - investment banking and private equity.
This new focus is already reflected in the group's business plan for the current fiscal year.
As it stands, the group already has some RM1 billion worth of merger and acquisition/private equity type deals in the pipeline, he said.
"The private equity activity of ECM will be the vehicle for value creation."
He said ECM would tap into existing and potential strategic partners for regional deal flows, M&A exercises and other regional opportunities.
ECM already works closely with Credit Suisse Group, for instance.
In investment banking, an area in which Jeyaratnam himself will play a key role, the group will focus on advisory and equity market activities.
ECM Libra Avenue Berhad Recent Investment
ECM has over the last few months steadily built up a niche for itself in equity placements. It has placed some RM1.1 billion worth of shares so far this year for companies like Pelikan International Corp, MMC Corp and Sime Darby.
ECM turned in a net profit of RM21.2 million in the last fiscal year ended January 31 2007.
Source
Strong ECM Libra Avenue comeback
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