Singapore’s bond market might see second default amid Pacific Andes skirmish


Singapore’s bond market may see its second default in as many months after creditors said Pacific Andes Resources Development Ltd. hasn’t honored some obligations on S$200 million ($139 million) of notes.

Sansan secures $16.9m Series C investment. Funding to be used to boost US, Singapore presence

Sansan, a provider of cloud-based business card management services, has secured a $16.9 million Series C investment, which will be invested in accelerating product development and international business growth. Investors who participated in this round of funding are Silicon Valley-based DCM Ventures; Salesforce Ventures, the global corporate investment arm of… Read more »

Singapore: Temasek unit Heliconia invests in Futuristic Store Fixtures

Heliconia Capital Management, a wholly-owned subsidiary of Singapore state fund Temasek Holdings, has purchased a  ‘significant minority stake’ in Futuristic Store Fixtures, a local store fixtures specialist firm. Futuristic claims its clientele includes some of the world’s largest mid-to-high-end global lingerie and apparel retailers, serving more than 38 global brands, including Victoria’s Secret and… Read more »

SG Dealbook: Otto Marine in MOU with port operator; Annica to buy stake in GPE

Otto Marine is forming an MoU with an unnamed port operator, while Annica Holdings has proposed the strategic acquisition of a stake in the GPE Power Systems, to compliment its existing portfolio of biomass power generation. Otto Marine forms MOU with port operator Otto Marine Shipyard Pte Ltd, a unit… Read more »

Singapore: Olam acquires wheat mills,expands African footprint

Singapore-based Olam International has acquired Amber Foods Limited, which through its wholly-owned subsidiary, Quintessential Foods Nigeria, owns the wheat milling and pasta manufacturing assets of the BUA Group in Nigeria, for a total enterprise value of $275 million. The purchase is being financed through a combination of debt and internal accruals, with… Read more »

Singapore: Global Food forms QSR JV; Koh Brothers merge subsidiaries

Restructuring and joint ventures are the order of the day for Singaporean firms. A subsidiary of Global Yellow Pages, Global Retail Food Group, has established a joint venture with South Korean firm Aimer Co to grow their respective brands. Meanwhile, the Koh Brothers conglomerate is restructuring to enhance operational efficiencies…. Read more »

Singapore: Noble Group chairman Elman increases holding as shares sink

Elman bought 10 million shares in Asia’s top commodity trader on Friday for S$3.19 million ($2.2 million), raising his holding to 22.13 percent, according to a statement to the Singapore exchange on Monday.

SG Realty Dealbook:LMIR to acquire Bali mall;Starhill completes sale of Japan property

LMIR Trust is acquiring a retail mall located in Kuta, Bali, while Starhill Global REIT has completed the divestment of its Japanese property for a profit. LMIR to acquire mall in Bali LMIRT Management, the manager of Lippo Malls Indonesia Retail Trust, is acquiring Lippo Mall Kuta, a three-storey retail… Read more »

Serviced apartments platform for corporates MetroResidences secures S$1m funding led by 500 Startups

MetroResidences, a Singapore-based platform, which helps individuals rent out their apartments to corporate travellers via its online website, announced Monday that it had raised S$1 million seed funding, led by global venture capital seed fund and startup accelerator 500 Startups. The company, which is now 18 months old, said it… Read more »

Eindec files IPO document with SGX; projects $5.19m in proceeds

Eindec Corporation Limited, a regional clean air environmental and technological solutions provider, could potentially be the first initial public offering (IPO) in Singapore for 2016, following the registration of its offer document for an IPO on the Catalist board of the Singapore Exchange (SGX) on January 6. With an operating history tracing back to… Read more »