DNA on BFM: Why no Asian interest in iProperty?
By Karamjit Singh November 6, 2015
- UEM Group managers getting an infusion of entrepreneurial zest
- Fintech startup CompareAsia ‘comes home’ after regional expansion
WHY did no Asian company see the value in iProperty? That was the key question that I posed to Freda Liu at DNA’s Tech Talk segment on BFM Radio on Nov 5.
With so many things to talk about around the proposed merger between REA Group and iProperty, that was announced on Monday, I did wonder why no Asian or Asean company saw the value in iProperty to pull the trigger on a deal itself.
Of course the fact that REA, which describes itself as a digital advertising specialist focusing on property portals, already owns a stake in a US operator of property portals, Move.com, offered Rupert Murdoch scale on a global level with the iProperty deal – which is still pending regulatory approval. Murdoch owns 60% of REA.
Still, offering A$4 a share for a stock that listed at A$0.35 cents in 2007 shows Murdoch’s confidence in owning a controlling stake in iProperty, which runs portals in four South-East Asian countries as well as Hong Kong.
I also spoke about the possible impact the deal will have on its rival PropertyGuru. You can hear those thoughts on the podcast.
Another interesting story was about how some Malaysian government-linked companies (GLCs) have started participating in Project Brainchild, which is essentially about infusing an entrepreneurial spirit into their managers with the hope that they become much more driven and innovative executives.
Listen to what Izzaddin Idris, UEM Group Bhd managing director, had to say about the programme.
We wrapped up the show talking about the greater purpose that NeonRunner founders M. Kanashan and Arvind Patmarajah discovered while on the eStanford programme organised by the Malaysian Global Innovation and Creativity Centre (MaGIC).
We also spoke about KL-founded CompareAsia ‘coming home’ again after its regoional expansion saw it neglecting its home market, and about the exciting Project Loon pilot about to get underway in Indonesia.
Really, with DNA now covering Indonesia as well as Singapore and Malaysia, we just need more time to share all the exciting developments across the three countries!
To listen to the podcast, click on this link.
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