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Asia-Pacific Strategic Investments acquires Mobii Genius for $150m, plans data centers in Malaysia

April 8, 20244 - Singaporean real-estate firm Asia-Pacific Strategic Investments Limited (APS) has acquired a data center firm and plans to develop facilities in Malaysia.

The company this week announced plans to acquire a 100 percent stake in Taiwanese sustainable data solutions provider, Mobii Genius Co., Ltd., for US$150 million.

APS is a real estate developer based in Singapore, traditionally specializing in building hospitality facilities and retirement villages. This would be the company’s first venture into data centers.

Details on location and specifications of planned data centers weren’t shared – SGX filings note Mobii has identified two locations in Malaysia for development with an estimated aggregate size of 30,000 square meters (322,920 sq ft).

APS said it will be leveraging 'proprietary green technology' from Mobii Genius, a subsidiary of Taiwanese renewable energy solutions firm Mobii Green Energy Co., Ltd. The technology is powered by chips “specially manufactured in partnership with an international GPU company.”

The acquisition has a target completion date of Q4 2024, with the first data centers expected to be built in Southeast Asia by 2025.

“Creating green data processing and storage facilities is of paramount importance, especially as data is now the bedrock of so many aspects of our lives, from business to essential services,” said Choo Yeow Ming, APS CEO. “While we have traditionally focused on the hospitality business, this acquisition will be a step forward in revitalizing APS and enhancing shareholder value. We now look to grow sustainably alongside the climate resilience of the tech industry.”

Tseng Kuan-Chih, chief executive of Mobii Green Energy Co., Ltd. added: “Our data infrastructure and the environment must both be healthy for the other to flourish. Mobii’s green technology has been specifically designed over the years to do just that: decrease energy waste while increasing efficiency. This acquisition by APS is poised to help make this technology more accessible to more regions, starting with our expansion into Southeast Asia.”

SGX filings noted APS group’s real estate development business in China has been “affected by the real estate crisis in China” and resulted in operating losses, leading to the company looking to explore new investments and acquisitions.

“The group is of the view that entering into the data centers investment, construction, and development business will allow the group to expand its revenue stream and presents an opportunity for the company to acquire a business with potential for growth,” APS said. “The group also has established business connections and know-how in Southeast Asia that will complement the business of the target company and its future development of data centers in Southeast Asia.”

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