Valuecap confirms exit of third-party asset management business

In a memo to staff sighted by StarBiz, group CEO Roslina Abdul Rahman said the decision to shutter the company was made following a meeting of ValueCap's board of directors on Dec 16.

KUALA LUMPUR: State-owned investment firm Valuecap Sdn Bhd has confirmed that it is seeking to exit the third-party asset management business.

The group is in the process of exploring various strategic options with regards to VCAM and i-VCAP, including divesting or winding up the companies, it said in a statement to Bursa Malaysia on Thursday.