Seaonics acquires ICD Software for $11.6m

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Seaonics, a Vard Holdings subsidiary,has acquired ICD Software for S$15.6 million ($11.6 million). Vard Holdings is a designer and builder of offshore and specialised vessels. Meanwhile, ICD Software specialises in the development and provision of automation software and control systems for the offshore and maritime sectors. Sions was established in 2011, with… Read more »

DBS opens DBS Accelerator in Hong Kong

Southeast Asian super-regional financial services group DBS, which is based in Singapore, has launched a DBS fintech accelerator in Hong Kong, in a physical site called “The Vault”. This is to function as a FinTech startup hub located in the heart of Wan Chai, Hong Kong. The 5000 square foot workspace is its first… Read more »


Ascott Reit to acquire 7 assets in Australia and Japan for S$298.3m

Singapore-listed Ascott Residence Trust (Ascott Reit) Thursday announced that it had acquired three quality serviced residences and four rental housing properties in Australia and Japan for S$298.3 million at an EBITDA yield of 5.1%. These accretive acquisitions are expected to increase Ascott Reit’s distribution income for FY 2014 by S$3.9… Read more »


Russia’s Skolkovo partners HaxAsia for hardware accelerator in Singapore

Russian’s Skolkovo Foundation and Singapore hardware accelerator HaxAsia has signed a partnership agreement to start a joint acceleration programme for hardware projects in Moscow and Singapore. The goal of the program is to develop the projects from prototypes to ready-for-market, to lead them to the stage of pilot or mass… Read more »


ST Telemedia buys 49% in UK’s VIRTUS Data Centres

Singapore’s ST Telemedia said it had bought 49 per cent stake in UK’s VIRTUS Data Centres Ltd for an undisclosed amount. “Under the partnership, ST Telemedia, through its wholly owned subsidiary STT GDC Pte Ltd will make a significant investment into VIRTUS committing to a 49 per cent stake via… Read more »


SGX gives S$1.5m grant to develop equity crowdfunding platform CapBridge

The Singapore Exchange (SGX) announced today that it will support the development of early-stage equity capital-raising platform CapBridge, through a S$1.5 million grant to Clearbridge Accelrator Pte Ltd over three years. This follows a memorandum of understanding (MOU) signed by SGX and Clearbridge Accelerator in January this year to develop… Read more »


Ascott REIT raises $186m via perpetual securities, to fund potential acquisitions

Singapore-based Ascott Residence Trust (Ascott Reit), an indirect unit of Capital Land Limited, has successfully raised S$250 million ($186.2 million) from the issuance of perpetual securities, which received strong investor participation with a four-time oversubscription. The proceeds from the securities, whose distribution rate is fixed at 4.68 per cent per… Read more »


Singtel’s $500m 10-year bonds oversubscribed 2.5 times

Singapore Telecommunications Limited (Singtel) has hit the sweet spot in the international bond market, as its 10 year notes issue, priced $500 million, was oversubscribed 2.5 times by a wide range of high investors. The notes, issued by Singtel’s wholly-owned subsidiary Singtel Group Treasury Pte Ltd, will carry a coupon of… Read more »


Spini gets S$1m first round funding from Walden International

Singapore-based crowdsourced sales referral and leads generation startup Spini has raised first round funding worth S$1 million (around $750,000) from venture capital firm Walden International, paving way for its expansion in the Indian market. The startup already has a presence in the Indian cities of Chennai and Bangalore. The money… Read more »


Silicon chips can now mimic human organ functions

Silicon chips mimicking the function of living human organs have won the Design of the Year 2015 award from the London Design Museum, says a BBC report.  This marks the first time an entry from the medical field has won the award. According to official statements, the museum stated that the project was… Read more »