Sembcorp to invest $1b in India; wins contract to build $300m power plant in Myanmar

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Singapore-based Sembcorp Industries, which maintains holdings in the infrastructure, utilities and the maritime and energy sectors, is looking to invest more than $1 billion over the next 5-7 years, doubling its renewable energy  portfolio in India, according to the Economic Times. With $11.97 billion (S$16 billion) of assets across the utilities value… Read more »

Yuuzoo establishes JV with largest Nigerian media conglomerate

Singaporean social media and e-commerce platform Yuuzoo has formed a 50-50 joint venture with the Nigerian Television Authority (NTA) to provide content in the Nigerian market, serving a population of 178 million people in addition to several overseas markets through online, satellite and IPTV channels. All e-commerce and advertising revenue will go to YuuZoo. The… Read more »


GLP JDV to sell Kobe-Nishi to GLP J-REIT for $59.9m

Global Logistic Properties Limited (GLP), a global provider of modern logistics facilities listed in Singapore, disclosed that GLP Japan Development Venture will sell GLP Kobe-Nishi to GLP J-REIT for $59.9 million, according to a notice of acquisition issued by GLP J-REIT. This crystallises a 38 per cent development value creation margin for the venture within… Read more »


GIC increases Nirlon stake via $90m open offer: Report

One of the sovereign wealth funds of Singapore – GIC – has raised its stake in publicly-listed Mumbai IT park firm Nirlon Ltd to 63.92 per cent, through acquiring open offer shares worth $90 million, as reported by the VCCircle. This completes a rare control-style deal for sovereign wealth funds in the Indian market. Nirlon… Read more »


Singapore’s Q&M Dental plans to spin-off Chinese unit via IPO

Singapore-based dental service provider Q&M Dental Group Ltd is exploring a possibility of spinning off its China subsidiary, Q&M Aidite International Pte Ltd (Q&M Aidite), via a listing in the Chinese stock market, the company announced on Friday. The directors of the group said in a statement that the proposed listing… Read more »


Present raises S$500k round from angel investors

Singapore-based startup, Present app, a social diary mobile application, has secured $371,200 (S$500,000) in funding from Singaporean angel investors. Named angel investors are James Teo, executive chairman of Eastgate Technology and Bobby Lim Chye Huat, executive director of Tai Sin Electric. Present is a social video diary application that serves as a… Read more »


Investment policies of startup funds must align with market conditions :Kumaran Pillai

Kumaran Pillai, chief executive of venture accelerator Apple Seed Pte Ltd says setting up a digital media business requires deep pockets, and believes that news consumption will soon be based on individual preferences, rather than being decided by an editor. “Editorial gatekeeping will be a thing of the past, with editors playing… Read more »


Game publisher Quest Drop partners with payment provider MOL

Mobile game publisher Quest Drop, a subsidiary of Daylight Studios which specialises in game operations in the ASEAN markets, has formed a strategic partnership with payment provider MOL, the third largest payment provider in Southeast Asia. The partnership is aimed at enhancing the support infrastructure for mobile games published in Southeast Asia. The deal makes… Read more »


Soilbuild REIT raises $67m in private placement of new units

SB REIT Management Pte Ltd, the manager of Soilbuild Business Space REIT Thursday said it had raised $67 million (S$90 million) by selling 111.8 million new units through a private placement. The units were placed at 80.5 cents apiece, the top end of an indicative range of 79.5 cents to… Read more »


Ascendas deploys China Business Parks Fund 4 @ $226m

Singapore-based business space solutions provider Ascendas has launched its S$333 million ($266 million) Ascendas China Business Parks Fund 4 (ACBPF 4), which is designated to invest in premium business park assets in Shanghai, Suzhou and Xi’an. The portfolio will encompass completed properties and a development project, Ascendas announced on Wednesday. Till now, the… Read more »