SG Dealbook: SUTL exits Achieva; POSH in JV with Saudi firm; SGX rejects Ley Choon plea


In a few business developments in Singapore, SUTL has sold its stake in Achieva Technology while POSH is expanding its Middle East presence. Meanwhile, Ley Choon’s request to transfer to Catalist has been rejected over concerns of its debt restructuring exercise. SUTL sells stake in Achieva Technology for $1.66m SUTL Enterprise,… Read more »

Singapore to allocate record $13b on R&D spend during 2016-2020: NRF

Under the plan, labelled RIE2020 -Research, Innovation and Enterprise, the National Research Foundation will help coordinate investments in four technology domains: advanced manufacturing & engineering; health and bio-medical sciences; services and digital economy; and urban solutions and sustainability.

Singapore: Industrial dishwasher firm GS Holdings lists on Catalist, opens trade at 25 cents

GS Holdings, a centralised commercial dishwater washing company, has launched its IPO on the Catalist board of the Singapore Exchange. They have issued a placement of 24 million shares at 25 cents apiece, which is expected to raise total gross proceeds of S$6 million ($4.18 million) and net proceeds of about… Read more »

Singapore: Noble Group stock, bonds crash to 7-year low as S&P cuts it rating to junk

Standard & Poor’s cut its credit rating on Noble Group to junk, adding to concerns about financing costs for Asia’s biggest commodity trader a week after a similar downgrade by Moody’s Investors Service and sending its stocks and bonds sliding.

SG Dealbook:Tritech sells 29% in Terratech; In.Corp picks few verticals of Raffles Advisory

In a couple of stake sales and acquisitions, the Tritech Group is seeking to exit Terrateh Group while In.Corp Global is acquiring parts of Raffles Corporate Advisory. Tritech Group divesting interest in Terratech for $8.73m Engineering firm Tritech Group plans to sell a 29 per cent stake in marble producer Terratech Group to Chew Hoe… Read more »

After Moody’s, S&P’s too follows with junk rating status to Noble Group

Analysts expect the downgrades to put more pressure on Noble, which has a total of $2.5 billion worth of loans due in 2016. Noble’s shares have fallen by around 70 percent since mid-February after blogger Iceberg Research questioned the company’s accounting practices.

Aslan Pharma raises additional $9m led by MVP Capital Partners; closes Series C at $43m

Singapore-based Aslan Pharmaceuticals (ASLAN), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, has raised an additional $9 million to close its Series C financing round at $43 million. The new financing was led by institutional investor MVP Capital Partners, and existing… Read more »

Singapore startup RingMD expands to Pakistan in global push

Singapore-based RingMD, a healthcare communications venture which facilitates online patient-doctor consultation, has expanded to Pakistan following forays into other emerging markets such as China, Hong Kong, India, the Philippines, and Thailand, as well as mature markets like the US. Built around the concept of providing a service that enables people to access doctors on a… Read more »

Singapore-listed commodity major Olam may land $175m financing from IFC

The financing is for Olam’s projects related to upgrade of sugar and spices production facilities in the states of Maharashtra and Kerala in India.

Singapore may alter startup funding regime with NRF as umbrella body for govt schemes

Concurrently, broader emphasis will be placed on sectors like medical technology and engineering, to leverage on Singapore’s strengths in electronics, disk drives and manufacturing