Silver Ridge unit, Huatai plan US$500m fund

Warrants Capital Sdn Bhd, a subsidiary of Silver Ridge Holdings Bhd, will partner Huatai Financial Holdings (Hong Kong) Ltd to launch the Huatai Von Malaysia Fund with a size of US$500 million in January.

Huatai Financial's director Stephen Wong said the private equity fund, which would invest in companies that ventured into natural resources and commodities businesses, to date has seed money of US$5 million contributed from both companies and cornerstone investors.

"We believe Malaysia is attractive because Malaysia has a strong diversification of economy, although palm oil, tin, petroleum and other commodities are an important part of the Malaysian story," he told reporters here today.

Earlier, Warrants Capital signed a memorandum of understanding with Warrants Capital, which will see both companies exploring the possibility of developing equities and future brokerage business in Malaysia.

At the same time, both companies also signed a distribution agreement which will see Warrants Capital marketing Huatai's financial products which include Huatai HK RMB Stable Fund.
Deputy Prime Minister Tan Sri Muhyiddin Yassin witnessed the signing.

Meanwhile, Warrants Capital Ltd Chief Executive Officer Alan Voon said the Huatai Von Malaysia Fund will focus on investing in high yield local stocks, stocks that pay high dividend as well as warrants.--Bernama