Singapore-based private equity firm, CMIA Capital Partners, in partnership with Affin Hwang Asset Management (AHAM) on Tuesday led the acquisition of a majority stake in Bitsmedia Holdings Ltd.
The combined stake purchased by CMIA and AHAM is about 90% but the value was not disclosed.
Headquartered in Singapore, Bitsmedia is the company behind Muslim Pro, the world’s number one mobile application (app) serving the global Muslim population.
The mobile app provides Muslims with accurate prayer times regardless of where they are in the world, as well as features such as qibla, Quran, supplications, zakat calculator, and even includes a community forum, among others.
To date, Muslim Pro has achieved 45 million downloads, more than 10 million monthly average users and more than two million daily average users.
According to Bitsmedia’s founder and chief executive officer, Erwan Mace, there were about 1.7 billion Muslims in the world, with Asia having by far the largest concentration of Muslims.
“The Muslim Pro app seeks to meet the needs of this community, providing them with accurate and good information,” he said in a statement.
The mobile app is available in more than 15 languages, including Arabic, Chinese, English, French, German, Indonesian, Malay and Urdu.
It is available on both Android and iOS devices.
Meanwhile, CMIA managing partner, Lee Chong Min, said the partnership represented a tremendous opportunity for Bitsmedia to take its business to the next level.
“Bitsmedia is a highly profitable business, with current earnings primarily derived from digital advertising and paid upgrades. We are open to exploring win-win business partnerships with other organisations and digital businesses,” said Lee.
CMIA focuses on control and growth capital investments in mid-sized businesses in China and South-East Asia and has to date leads more than S$1bil in investments across various industries and sectors.
AHAM deputy managing director, Johan Rozali-Wathooth, said the company was pleased to be in partnership with Bitsmedia and CMIA in its maiden private equity transaction.
“We are especially looking forward to helping Erwan, who will stay on as a substantial shareholder and key executive of the business, to develop the Muslim Pro platform further.
“AHAM hopes to leverage our deep ties both in Malaysia, as well as the South-East Asia region to help Bitsmedia execute its growth strategy,” said Johan.
Bernama
Tue Aug 01 2017
The mobile app provides Muslims with accurate prayer times regardless of where they are in the world.
Kelaparan akut jejaskan 281.6 juta orang tahun lepas - PBB
Tahap bahaya kelaparan akut menjejaskan 281.6 juta orang tahun lepas, tahun kelima berturut-turut bahawa ketakjaminan makanan semakin memburuk.
Pusat Kargo KLIA gempar ancaman bom, rupanya bungkusan berisi komputer riba
Pusat Kargo Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) gempar apabila mesin pengimbas menerima bungkusan tertera ayat ancaman bom hari ini.
Ziana Zain giat bersenam di gimnasium, persiap diri untuk konsert solo bulan depan
Ziana Zain mahu memastikan beliau mampu memberikan yang terbaik apabila impiannya itu bakal menjadi kenyataan bulan depan.
AWANI 7:45 [25/04/2024] - Akaun KWSP distruktur semula | Pensyarah pro-Israel | Suspek tembak di KLIA didakwa | Astro Radio kekal nombor 1!
Laporan berita padat dan ringkas #AWANI745 bersama Cynthia Ng;
Tumpuan #AWANI745 malam ini:
Agihan 10% akaun tiga, pencarum boleh keluar bila-bila masa
Serangan di KLIA, Hafizul didakwa cuba bunuh isteri
SPRM sahkan Tun Mahathir disiasat isu isytihar harta
Era, Sinar, Gegar jejak dominasi saluran radio Melayu
Saksikan #AWANI745 di saluran 501 Astro AWANI, Astro AWANI apps dan astroawani.com/live-tv.
Tumpuan #AWANI745 malam ini:
Agihan 10% akaun tiga, pencarum boleh keluar bila-bila masa
Serangan di KLIA, Hafizul didakwa cuba bunuh isteri
SPRM sahkan Tun Mahathir disiasat isu isytihar harta
Era, Sinar, Gegar jejak dominasi saluran radio Melayu
Saksikan #AWANI745 di saluran 501 Astro AWANI, Astro AWANI apps dan astroawani.com/live-tv.
AWANI Ringkas: SSPA terbaik pernah diperkenalkan kerajaan - PM
AWANI Ringkas
Pasaran getah ditutup rendah bagi hari keempat berturut-turut
Pada 5 petang, harga rujukan bagi getah fizikal LGM untuk GMM 20 adalah 754 sen sekilogram manakala susu getah pukal ialah 700.5 sen sekilogram.
Bursa Malaysia ditutup rendah selepas kenaikan enam hari berturut-turut
Pada 5 petang, FTSE Bursa Malaysia KLCI (FBM KLCI) susut 2.23 mata kepada 1,569.25 daripada 1,571.48 ketika ditutup pada Rabu.
Ringgit ditutup tinggi sedikit berbanding dolar AS
Pada 6 petang, ringgit naik kepada 4.7745/7775 berbanding dolar AS daripada 4.7765/7780 ketika ditutup pada Rabu.
Inspirasi bermakna daripada Forum Umrah & Ziarah 2024
Usaha meningkatkan kapasiti Mekah dan Madinah bagi membolehkan lebih ramai umat Islam mengerjakan umrah kini menjadi fokus utama kerajaan Arab Saudi.
Forum Umrah & Ziarah 2024 yang diadakan di Madinah telah membincangkan banyak hal berkaitan perkhidmatan umrah dan ziarah termasuklah pengadaptasian teknologi terkini, pengurusan yang lebih cekap serta pengurusan kewangan yang lebih berdaya saing.
Ikuti laporan hari terakhir forum berkenaan bersama Hilal Azmi.
#ForumUmrahZiarah2024
#AWANI745
Forum Umrah & Ziarah 2024 yang diadakan di Madinah telah membincangkan banyak hal berkaitan perkhidmatan umrah dan ziarah termasuklah pengadaptasian teknologi terkini, pengurusan yang lebih cekap serta pengurusan kewangan yang lebih berdaya saing.
Ikuti laporan hari terakhir forum berkenaan bersama Hilal Azmi.
#ForumUmrahZiarah2024
#AWANI745
Penjawat awam perlu amal kecepatan dan kepesatan dalam pelaksanaan tugas - PM Anwar
Penjawat awam digesa untuk sentiasa mengamalkan kecepatan dan kepesatan dalam pelaksanaan tugas supaya dasar-dasar kerajaan dapat dilaksanakan dengan pantas.
Saman sivil DOJ tidak jejas sentimen pelabur
Affin Hwang Asset Management senada dengan Bank Negara Malaysia, dengan menjangkakan pertumbuhan ekonomi Malaysia antara 4.0 hingga 4.5 peratus bagi 2016.