Deals of the Year
22.05.12
, Malaysia's top beverage company, which is trading at 17 times to 18 times at the time of the sale. When one sits back and look at the bigger picture, the sale does not only involve the assets of Permanis, but also its chief executive officer Erwin Selvarajah.
An accountant by practice, the 41- year-old Erwin joined Permanis in 1999 as chief executive officer (CEO) and is touted to be behind the success of Permanis by industry observers.
He rose through the ranks and was appointed the CEO of the larger CI Holdings in August 2010.
Although the man behind Permanis has since resigned from CI Holdings as CEO following the change in shareholding of Permanis to Asahi, he still has a direct 2.99% interest in CI Holdings.
Nothing has been speculat ed about Erwin's next move yet, it remains to be seen whether he will lead Permanis under the wing of the Japanese.
Asahi is upping its gear in its expansion drive as Japan's beer market has declined by 20% from its peak in 1994, and has allocated up to US$5bil until next year for acquisition purposes.
Source: Malaysia Star