KUALA LUMPUR: TA Enterprise Bhd (TAE) is set to enter the venture capital (VC) business, focusing on the financial sector while beefing up its corporate finance, its chief executive officer, Datin Alicia Tiah said on Monday.
However, Tiah, who is also the managing director, was unable to provide further details as the VC plan is still at an early stage.
She was speaking to reporters after the company's extraordinary general meeting (EGM) here, with regards to among others, the listing of its subsidiary, TA Global Bhd.
TAE's cash position after the listing of TA Global will be RM230 million provided all its public and bumiputera portion is fully subscribed, she said, adding that the funds could be utilised for the new VC business.
After the listing, TAE will have a 57.3 per cent stake in TA Global.
According to Tiah, TA Global's listing is tentatively on Nov 30 and following that,the property arm's cash position would be RM135 million.
On the outlook for TAE, she said it depends very much on the stock market.
"If the market is rosy, our profits will go up. Hong Kong is also giving us a good return on brockerage income, given its proximity to China," she said.
On the further acquisition of hotels, TAE executive chairman Datuk Tiah Thee Kian said the company was always on the lookout, for good opportunities.
"We are looking for opportunities all the time, especially for hotels in London as well as Vancouver, by either buiding one ourselves or on a joint venture basis.
"The criteria is, it should be cheap and give us a stable income inflow.Those with a RM600 million price range are good for the company," he said. - Bernama
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