Redberry and VGI strike RM13.2m deal

2 years ago

(From left) Redberry Group Managing Director & Chairman of the Malaysian Tourism Promotion Board Datuk Siew Ka Wei, BTS Group Holdings Chairman Khun Keeree Kanjanapas, Tourism and Culture minister Datuk Seri Nazri Aziz, and Chairman of the executive committee of VGI Global Media Kavin Kanjanapas, at the launch of the Titanium Compass and VGI Global Media office in KL.

Ancom Berhad has announced that its wholly-owned subsidiary Redberry Sdn Bhd had entered into a Share Sale Agreement with VGI Global Media (Malaysia) Sdn. Bhd.
The agreement is for the disposal of 4,281,277 ordinary shares, representing 25% of the issued and paid-up share capital in Puncak Berlian Sdn Bhd, held by Redberry Sdn Bhd, to VGI Malaysia at a consideration of RM13,154,175.
Ancom Berhad strongly believes the strategic investment of 25% by VGI Malaysia will bring additional expertise and technologies into the Puncak Berlian Sdn Bhd Group, which will further strengthen its operational capabilities.
“Ultimately, this will pave the way for the PBSB Group to be positioned as a regional media player in the Southeast Asian region,’’ said Ancom Berhad in a statement.
Puncak Berlian Sdn Bhd also owns 90% of the shares in Redberry Outdoors Sdn Bhd,  83.9% in Focus Media Network Sdn Bhd, 49% in Redberry Media Sdn Bhd, 100% in Point Cast (M) Sdn Bhd, 74.8% in Meru Utama Sdn Bhd and 51% in Titanium Compass Sdn Bhd.
The company is also in the midst of finalising the acquisition of 90% equity interest in Ten Plus Resources Sdn Bhd.
Redberry Sdn Bhd is principally an investment holding company while VGI Malaysia Sdn Bhd is a subsidiary of VGI Global Media PCL, which is the leading out-of-home media company in Thailand and among the top 5 most profitable OOH media companies in Asia.
VGI Global Media PCL is on the Forbes Asia’s 200 ‘Best Under A Billion List’ (2014) and is engaged in the provision of marketing and advertising services, and operates through the Bangkok Mass Transit System to manage advertising and merchandising on mass transits including stations, platforms, plus interior and exterior spaces of trains.
It is part of BTS Group Holdings, formerly known as Tanayong Public Company Limited, which is the majority shareholder of Bangkok Mass Transit System PCL.
Tourism and Culture Minister Datuk Seri Nazri Aziz, said “effective media placement on the public transportation system would boost tourism”, while speaking at the launch of the Titanium Compass Sdn Bhd and VGI Global Media (Malaysia) office at Menara Manulife today.
In September last year, Mass Rapid Transit Corporation Sdn Bhd (MRT) awarded Titanium Compass, a joint-venture comprising four companies Puncak Berlian Sdn Bhd, VGI Global Media Malaysia, Ikatan Asli Sdn Bhd and Utusan Airtime Sdn Bhd to manage their station and train advertising. 

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