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File picture of a shopper picking her fresh produce from a local supermarket. Jaya Grocer's owner Trendcell charged under Price Control and Anti-Profiteering Act. Our website is made possible by displaying online advertisements to our visitors. KUALA LUMPUR, Oct 28 — The owners of Jaya Grocer in Malaysia are contemplating selling a controlling stake in the company, sources said. By signing up, you agree to our Privacy Policy and Terms and Conditions. The family could decide to keep part of their stake, they said. Non-binding bids are due as soon as next month, the people said, asking not to be named as the process is private. Your feedback is important to us Tell us what you think. 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. The family could decide to keep part of their stake, they said. A representative for CIMB declined to comment on the matter. Tell us what you think. By signing up, you agree to our Privacy Policy and Terms and Conditions. Representatives of Jaya Grocer and Mitsubishi did not respond to requests for comment. 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. 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. 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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. 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 … 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] 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. RESEND Deliberations are ongoing and there is no certainty that a deal will proceed, said the people. A representative for CIMB declined to comment on the matter. 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. Jaya Grocer started in 2007 with its first outlet in Jaya 33 in Petaling Jaya. Trendcell was charged with unreasonably high profit through the sale of lady’s fingers at the Jaya Grocer premises in Bangi. @media (min-width: 768px) { .sm-text-left {text-align: left; } }. Subscribe to t.me/BizTimes. Tuesday, 05 May 2015 08:33 PM MYT. (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. 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. Bloomberg reported that the deal could value the supermarket chain at US$200 million (RM831.1 million) and … 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. It has 16 outlets located mainly in the Klang Valley including The Intermark, Empire Shopping Gallery and KLIA2. Email us at btuserfeedback@sph.com.sg Deliberations are ongoing and there is no certainty that a deal will proceed, said the people. Calls to the Teng family's Trendcell were not returned. 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. VERIFICATION EMAIL. Calls to the Teng family’s Trendcell Sdn Bhd were not returned. Hello, your email is unverified. 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. [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. 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. Sign up Please confirm for access to all your SPH accounts. Empire Shopping Gallery and KLIA2 our Privacy Policy and Terms and Conditions displaying! Empire Shopping Gallery and KLIA2 asking not to be named as the process is private up, you to! 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