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CIMB Private Equity Invests RM6 Million In Mahmood Security

KUALA LUMPUR, Feb 13 (Bernama) -- CIMB Private Equity has completed a RM6 million investment in security services provider Mahmood Security (M) Sdn Bhd (Mahmood Security).

But although it will have board representation, It will not be involved in day-to-day operations, said CIMB Private Equity head Darawati Hussain in a statement today.

Established in 1984, Mahmood Security provides a diversified range of security services including manned guarding, cash-in-transit, security escort and cash management.

The security company has expanded from the initial four branches to the current 26 branches nationwide with the workforce strengths exceeding 2,000.

Darawati said the investment will help accelerate Mahmood Security's foray into cash management services.

CIMB Private Equity, an entity within the CIMB Group, is active in providing equity capital to mature companies in most industry sectors seeking capital for restructures, acquisitions and expansion.

-- BERNAMA

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CLOSING, FRIDAY, OCT 24
US 3.2780/2800
S'pore 2.5678/5715
100 Yen 3.0299/0331
Sterling 5.2655/2693
Euro 4.1483/2518
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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