Massive Power switch in Celcom Planet deal

Apr 24, 2018Updated May 26, 20251 min read

Malaysian investment holding company PUC will invest RM90 million (US$23 million) in Celcom Planet (CPSB), which owns and runs e-commerce platform 11Street Malaysia.

PUC, which provides integrated media, e-commerce and technology services, says the deal will give it management control of 11Street Malaysia.

Meanwhile, CPSB claims to be one of the largest e-commerce companies in Malaysia.

It is a JV between Axiata Digital Services and Korean-owned SK Planet Global Holdings

“The investment paves the way for the company to increase potential revenue streams in advertising and media, and financial services from the synergistic collaboration for the company and its subsidiaries,” PUC says in a Bursa Malaysia filing.

As part of the terms of the deal, PUC will have the right to nominate and appoint the CEO and chief marketing officer of 11Street Malaysia.

For last year, 11Street Malaysia recorded a GMV of about RM427 million, selling more than 13 million products from 40,000-plus sellers.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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