News Daily

The Times

News from Asia

  • Written by Media Outreach
KUALA LUMPUR, MALAYSIA - Media OutReach - 16 January 2023 - 5X Capital, a private equity fund with a diverse portfolio of companies including BFM Radio and Vida has acquired a stake in Colony Coworking Space.

Colony Coworking Space, which currently operates 12 locations in Kuala Lumpur between its namesake brand and its mass-market brand Jerry, has a total footprint of 170,000 square feet in Kuala Lumpur. The group's revenue grew 74% in 2022 and EBITDA grew by 265% year-on-year to an all-time high.

With this strategic investment, 5X Capital is looking to capitalise on the growing Flexible Workspace Market in Malaysia by investing in one of the largest Coworking operators in the country.

"We feel privileged to be invested into Colony, a team whose offering we love, has great execution and business acumen. This is an incredible opportunity and we will meaningfully support them for greater growth," said a representative of 5X Capital. "Their success in being one of the few profitable coworking operators in the industry is a testament to the company's strong brand and execution".

"Colony has always been about sustainable growth: Growing while maintaining a minimum of being EBITDA neutral so we don't burn cash. With that we find 5X Capital as partners that are aligned with our goal of sustainable growth," said Timothy Tiah, CEO of Colony Coworking Space. "Their experience and resources will be invaluable as we continue to expand and meet the growing demand for coworking spaces in the region."

Colony earlier this month also announced a new deal with property developer Sunsuria Berhad to open a new Colony in Sunsuria Forum at Setia Alam.

Hashtag: #Colony

The issuer is solely responsible for the content of this announcement.

Read more

Split Corrugated Conduit for Flexible Cable Protection

For wiring assemblies in vehicles, machinery and equipment, choosing suitable cable protection helps keep cables organised and reduces direct contact with surrounding parts. Mojak Plastics supplies plastic tubing and conduit options for different installation needs, and split corrugated conduit can... Read more

Trailers Melbourne Buyers Can Compare: When Box Trailers Make Sense

For many homeowners, businesses and tradespeople, trailers Melbourne customers use every week need to be versatile enough for changing loads. A box trailer can be particularly useful because its enclosed sides help contain cargo while providing a straightforward loading area... Read more

Bottle Label Printing That Balances Design and Readability

Product labels need to attract attention while making information easy to find and understand. On a bottle, the available space may be limited by the container’s shape, so every design decision matters. Bottle label printing should account for visual hierarchy... Read more

Office Cleaning Melbourne: Planning a Consistent Workplace Routine

Businesses looking for office cleaning Melbourne need a plan that reflects the way their workplace operates. A clean office supports day-to-day organisation, helps shared spaces remain presentable and gives employees and visitors a more orderly environment. Eco Green Cleaning Management... Read more

Pinboard Solutions for Offices, Schools and Shared Information Spaces

Why a Pinboard Remains Useful A pinboard provides a simple way to display information that needs to remain visible without being rewritten. Lawdex supplies fabric and cork options for offices, schools, staff areas and other environments. A pinboard can be used... Read more

Retractable Hose Reel: A Practical Guide To Choosing The Right Hose Storage

A retractable hose reel can make hose storage more organised, accessible and practical in workshops, commercial facilities, service areas and other working environments. Instead of leaving a hose coiled across the floor or requiring staff to manually wind it after... Read more