Monday, 03 August 2026 · SEA Deal Ticker

SEA Deal Ticker Mon, 03 Aug

Minority partners get bought out; the licence sets the price.

The bancassurance engine was only 69% owned: Maybank pays $1.18B for the rest of Etiqa — DealStreetAsia

Maybank agreed to buy Ageas' remaining 30.95% of Maybank Ageas Holdings, which owns Etiqa's Malaysian and Singaporean insurance and takaful businesses, for RM4.83 billion. Bank Negara Malaysia must approve.

Positive-sum angle: One owner can price takaful straight off a bank's cost of funds instead of splitting the economics. Malaysian and Singaporean savers meet insurance through the branch network rather than a joint venture's margin.
Indonesian payment licences take years: an Australian fintech buys Brick's instead for up to $20M — Youngster.id

Brick is in final talks to sell a majority stake for $10-20 million. Its Bank Indonesia payment-provider licence came from buying PT Eastern Transglobal Remittance in 2023.

Positive-sum angle: Buying the licence rather than applying for one turns Indonesian regulatory patience into an exit price. Founders who sat through the compliance years now have a buyer class that pays for those years.
Sovereign-linked capital is pricing itself at home: Temasek guides a 10-year Singapore-dollar bond at 2.7% — DealStreetAsia

Temasek Financial (I) opened books on a fixed-rate note due 2036 under its $30 billion global medium-term programme. Moody's rates it Aaa and S&P AAA. Size and final coupon are not set.