• Symbiotica Speciality Ingredients Sdn Bhd (Symbiotica) is a leading Active Pharmaceutical Ingredient (API) manufacturer in the Southeast Asia region, with a broad API product portfolio, specializing in the corticosteroid and steroid hormones API segment
  • As a founder-led company, Symbiotica has grown to serve customers in Malaysia and more than 70 other countries. With over 80% of its sales export-based, its reach spans six continents, possessing a strong presence, especially in Europe and Asia
  • Ekuiti Nasional Berhad (Ekuinas) is a government-owned private equity company that aims to create Malaysia’s next generation of leading companies while promoting equitable and sustainable Bumiputera wealth creation and economic participation


  • Following a longstanding relationship, the founders of Symbiotica engaged DC Advisory as exclusive financial advisor on the sale of Symbiotica
  • DC Advisory ran a competitive controlled process and reached out to potential investors internationally
  • DC Advisory advised the founders of Symbiotica on all key aspects of the transaction, including: comprehensive financial and strategic advice, investor solicitation and engagement, process design and management, due diligence coordination, as well as close support in negotiations and transaction documentation


  • On 30 April 2024, the founders of Symbiotica completed the sale of an 80% stake to Ekuinas
  • The partnership with Ekuinas aims to propel Symbiotica in its next chapter of growth as it expands manufacturing capacity and capabilities, while also increasing focus on research and development. For Ekuinas equally, the partnership is expected to leverage the success of Symbiotica to drive growth and contribute to the development of Malaysia’s pharmaceutical sector
  • This transaction demonstrates DC Advisory's expertise in the Asia pharmaceuticals sector and transactions involving family business transitions

“Like any typical family business, we were exploring a brighter future for our company when we engaged DC Advisory Singapore 18 months back in our effort to divest a majority stake. It has been an amazing journey together with the team of Mr. Lee Shao Ping, Mr. Cheah Yew Wee, Mr. Victor Yeo and Mr. Dominic Seah, who helped us present the true value of the company to potential suitors. Their guidance and professionalism throughout the M&A process was exemplary. They are focused, knowledgeable, patient, understanding, meticulous and hardworking. They conducted a perfect process and kept a tight leash on the timelines by coordinating with all relevant parties until the successful completion of the deal with our new investor, Ekuiti Nasional Berhad ( EKUINAS ). We are very pleased that they have helped us find a great investor, who will synergise well with the founders to take the company towards its next chapter of growth.”

Ajoy Prabhu
Founder and CEO, Symbiotica

“On behalf of DC Advisory, we would like to congratulate the founders of Symbiotica and Ekuinas on completing this transaction. It has been a privilege to build a trusted relationship with the founders and to assist them in this sale, marking a major milestone in the company’s history and the founders’ entrepreneurial journey. This deal is reflective of our collective efforts with the founders to select the right partner who can meet the interests of the selling family and take the company to its next level. We look forward to seeing more growth and successes for Symbiotica and Ekuinas in the years ahead.”

Lee Shao Ping, Cheah Yew Wee, Victor Yeo
DC Advisory Singapore