7 Apr – Navis Capital Partners Ltd (Navis), known for making private equity investments was reported to have bought a majority stake in Malaysia's third largest cinema operator, MCAT Box Office Sdn Bhd (MBO), at the price of RM104mil, according to The Star Online. As a result, MBO cinemas will have two majority shareholders, Navis and Tan Sri Abdul Rashid Abdul Manaf, the previous sole shareholder. In addition, new joint partnership will see MBO undergoing a new phase, which includes the digitalisation and refurbishment of existing cinemas, as well as installing more MBO cineplexes in new locations nationwide. MBO is said to be Navis' second investment in Malaysia this year, following their purchase of 28% shares in a private education group. According to Navis partner Tan Chow Yin, "Navis had been working on the deal for a while and that it was not a sudden move. Movie-going is a favourite pastime of many Malaysians and ticket sales have risen throughout good and bad times for the domestic economy." He added, "We hope we can bring movie-going to a new level for our faithful customers." In the same statement, Rashid said, "This is an exciting new phase for MBO. The Navis team convinced us that their investment and involvement will help us improve what we have started."