Black Group Investment Announces Acquisition of Black Diamond Asset Management in Strategic Expansion into Malaysia

31 January 2025

Singapore and Malaysia, 31 January 2025 – Black Group Investment Holding Pte Ltd (Black Group) has announced the acquisition of Black Diamond Asset Management Sdn Bhd. This 100% acquisition marks a significant step in Black Group’s strategic expansion into Malaysia, with a dual focus on acquiring real estate assets and advancing its presence in the growing biotech sector.

Above [from left] Datin Sri Cynthia Wang (Chief Executive Officer of Black Diamond), Tan Zi Jing (Chief Executive Officer of Black Group Investment Holding), Dato’ Sri Alan Lee (Chief Investment Officer of Black Group Investment Holding),

The acquisition aligns with Black Group’s commitment to both geographic expansion and diversification. With an emphasis on real estate investments in Malaysia, Black Group also sees tremendous opportunity in the region’s rapidly developing biotech landscape. The primary focus will be identifying and acquiring prime real estate assets in Malaysia for its upcoming biotech operations.

“We are thrilled to welcome Black Diamond to our team,” said Tan ZiJing, CEO of Black Group. “This addition aims to support our growth strategy in Southeast Asia, where we see immense potential not only in the real estate market but also in the rapidly expanding biotech industry. Black Diamond’s deep understanding of Malaysia property market, coupled with our focus on biotechnology, will allow us to accelerate our development and market reach.”

According to Grand View Research, the Southeast Asia biotechnology market was valued at approximately USD 6.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of about 7.4% from 2021 to 2028. The market is driven by government initiatives, increasing investments in biotech innovation, and rising demand for healthcare solutions due to aging populations, increasing chronic diseases, and the COVID-19 pandemic.

Through this acquisition, Black Group hopes to drive Malaysia’s economic development while delivering growth to the biotech industry.

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About Black Group Investment Holding

Black Group Investment Holding is an investment firm with a portfolio focusing on real estate, healthcare, wellness and sustainable ventures. The firm's mission is to build sustainable, high-quality assets that contribute to the well-being of communities and enhance investor value. With a strategic focus on high-growth sectors, Black Group seeks to create value through innovative, forward-thinking investments that align with emerging global trends. Leveraging a deep market understanding, strong deal-sourcing capabilities, and biotechnology expertise, the firm identifies and capitalises on opportunities that offer long-term growth.

For more information, please visit https://www.blackgroupinvestment.com/

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