AmInvestment is one of Malaysia’s premier investment banks under the AmBank Group, a diversified financial service group in Malaysia. Through its private equity arm called Malaysian Ventures Management Inc., AmInvestment had two fully divested Malaysia-focused funds (total size of equivalent US$7.5 million) and is currently managing one regional fund, AmPrivate Equity, a RM100 million (equivalent US$29 million) fund for investments in SEA and greater China. In addition Malaysian Ventures had managed and fully divested $35 million downloaded by SEAVI-Advent for investments in Malaysia. Konzen Capital is a wholly owned subsidiary of Konzen Environment Pte Ltd a Singapore-based water engineering company. Currently, AmInvestment and Konzen Capital are the shareholders of the Fund Manager. As the Fund’s need and proposition has evolved over time, the structure will be changed. Konzen is scheduled to divest its investment in the Fund Manager and AmInvestment will be the major shareholder. However, the Fund Manager will retain its core expertise in the sector.

The Fund is targeting to raise $100 million commitment. IFC proposes an equity investment of the lesser of $20 million or 20% of the total Fund size.

20.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

* These investment figures are indicative

The Fund will invest in China (estimated at 70% of total investment) and South East Asia (estimated at 30% of total investment)

The project is expected to have significant positive impact by (i) providing access to water to the areas where clean water is scarce, (ii) providing better waste water management, (iii) enabling more sustainable industrial process and (iv) creating employment through water works

IFC will play significant and unique role in (i) mobilizing capital to enable Fund’s closing, (ii) improving Fund’s term and structure, (iii) improving Fund’s corporate governance, (iv) enhancing Fund’s outreach through IFC’s network in the region and (v) implementing E&S standards

This is a category FI project under IFC’s environmental and social review procedure. As a start up Fund focused on the water sector in China and South East Asian countries, the Fund will focus on: management team selection and relevant experience; investment eligibility criteria; approach to due diligence process, specifically on the identification, assessment and management of environmental and social risks to ensure compliance with applicable national laws and regulations, IFC’s Exclusion List, and the Performance Standards and approaches to portfolio management in both majority and minority stakeholder positions.

A Social & Environmental Management System, appropriately scaled and resourced, will be required as a condition of IFC’s investment. This must include assignment of responsibilities and accountabilities for E&S issues, implementing procedures and processes, access to consultants and other technical expertise as needed, training, monitoring and review processes. Additionally, IFC will retain the right to (1) review the implementation and performance of the SEMS for the first few sub-projects, prior to the Fund’s investment decision, (2) for all Category A sub-projects, the Fund to provide IFC with prior notification at which point IFC can request further information or (3) for all Category A sub-projects, IFC retain the right to review all such proposals. The approach to sub-project review (including notification and/or review turnaround times) will be determined during appraisal. The purpose of such notification and review is to ensure that sub-projects'' compliance with the applicable requirements can be demonstrated.