OSK Ventures International charts US$6.5m income amidst a challenging 2023 for private equity
By Digital News Asia March 4, 2024
- Delivered y-o-y income growth of 32%, PAT of US$5.04mil
- Five new transactions into its investment portfolio, exited one company
In a filing to Bursa Malaysia last week on its fourth quarter (4Q2023) and full-year results for the financial year ended 31 Dec 2023 private equity company, OSK Ventures International Bhd, recorded income of US$6.5 million (RM30.8 million) for FY2023, a 32% increase compared to US$4.93 million (RM23.4 million) in FY2022, with a profit after tax of RM23.9 million.
[RM1 = US$0.211]
Despite challenging market conditions across the public and private markets, the Group said it delivered a healthy financial performance marked by steady growth across its venture capital segments.
“Our growth performance is a testament to the resilience of our investment methodology and tenacity of our portfolio companies. Driven by the growing interest in innovative companies within the private markets, we continue to expand our product offerings, taking advantage of this interest and understanding of alternative assets such as venture equity and venture debt,” said Amelia Ong, OSKVI CEO.
For FY2023, the Group welcomed five new transactions into its private investment portfolio within the enterprise tech, fintech, and e-commerce sectors and successfully exited one portfolio company. It has 37 companies in its portfolio and is working on a new fund.
Speaking to Digital News Asia, Amelia (pic) said that OSKVI had recently announced a strategic collaboration with the Singapore Fintech Association (SFA) through Project Tapir. By joining forces, OSKVI aims to facilitate the seamless entry of Singapore fintechs into the Malaysian business landscape, presenting a compelling expansion opportunity for both parties involved.
“This initiative will benefit the aspirations of both the Singaporean and Malaysian governments by promoting their respective interests in neighboring countries,” said Amelia, adding that with this initiative, Singapore fintechs are supported in expanding overseas while Malaysia is showcased as an attractive location for foreign investments.
OSKVI proposed a final single-tier dividend of 2 sen per share for FY2023, subject to shareholders' approval at the upcoming Annual General Meeting.
As of 31 Dec 2023, the Group’s shareholders' funds stood at RM248.4 million with total assets of RM258.6 million and a total market capitalisation of RM106.1 million (based on OSKVI’s last quoted share price at the close of trading day of FY2023).
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