Quinton Capital Sdn Bhd (QCSB), an investment arm of Quinton Group, formally signed an agreement with ECH World Wide Energy (M) Sdn Bhd on 16 February in which 55% of QCSB’s shares will be acquired for US$250mil (about RM1bil) over the next two years.
Subsequently, ECH will be the major shareholder of QCSB.
This joint venture was finally completed after months of discussion between the board of directors and shareholders of the two companies. With the latest joint venture, both companies are looking at a bright future filled with opportunities where the digital landscape development and ecosystem can be further enhanced.
Quinton Group, established in 2018, is an aggregator platform connecting consumers and collaboration partners to create a cohesive digital economy ecosystem.
Currently, Quinton Group’s core businesses consist of three popular ecommerce and consumer services in Malaysia – Quin Reward (e-voucher rewarding system), Quick Sent (food delivery service) and Quin Pavilion (e-marketplace platform).
Quinton Group also has ventures in advertising (UniAds), medical care (Comepulse), entertainment (Cineplus), hotel booking platform (StayWhere) and more.
Headquartered in Japan, ECH has over 10 years of international development experience in power generation, engineering and renewal energy. With a wide business scope covering 13 countries, ECH receives endorsements from a renowned Japanese bank headquartered in Tokyo.
This solid background and support confirmed that ECH has a cash deposit of up to US$900mil and the ability to invest in Quinton Group’s development.
“We are delighted to be able to join hands with ECH, which will bring us on an exciting journey and further milestones where Quinton Group can achieve higher,” said Quinton Group managing director Datuk Dr Kenny Tan.
In addition to replenishing capital reserves, this capital injection of US$250mil will further increase investments in risk control, platform development and strengthen the company’s roots. Quinton Group’s business model will continue to remain favourable with promising growth.
This new development is a cornerstone to share resources to create mutual benefits for both companies.
QCSB as an investment arm can strengthen Quinton Group’s digital ecosystem on a new business landscape.
Through this joint venture, Quinton Group will be driven into expanding its business ecosystem, allowing it to pursue intelligent and energy-oriented markets by stepping into the energy industry.
Through the professional background, technology and a solid network of partners of ECH in the energy industry, both companies are confident to introduce new opportunities and create new values in the untapped energy market in Malaysia.
“Additionally, this capital injection over the next two years will also be used to revitalise the Quinton Ecosystem, such as food delivery, ecommerce, entertainment, medical care, education and others,” said Tan.
