Singapore: Noble Group chairman Elman steps down from audit committee


The chairman of Singapore-listed Noble Group Ltd has stepped down from the company’s audit committee, in the first major move for the co-founder since the firm’s accounting practices were called into question earlier this year. Influential proxy adviser Institutional Shareholder Services had called for significant changes to Noble’s audit committee… Read more »

SG Dealbook: Innopac JV to grow microalgae; Magnus Energy invests in Flagship Ecosystems

Singaporean firms are exploring new jurisdictions, projects and markets abroad, through the process of forming joint ventures or acquiring minority stakes in foreign ventures. This reflects a general trend of Singaporean businesses, particularly small & medium enterprises (SMEs) expanding abroad. The main focus area seems to be environmental solutions. Innopac forms joint… Read more »

Singapore: Magnus Energy unit acquires stake in Australian firm Royal Energy

Mid-Continent Equipment Group, a subsidiary of Magnus Energy, will be subscribing to 8 million shares in Royal Energy Pty Ltd at 12.5 Australian cents per share. This places the consideration at A$1 million ($702,850) for the share subscription. This deal comes amidst a backdrop of the weakening Australian Dollar encouraging foreign firms… Read more »

Singapore: SPRING-NRF launch additive manufacturing tech cluster

SPRING Singapore and the National Research Foundation (NRF) of Singapore are joining hands to launch a 3D printing cluster. The new cluster, called National Additive Manufacturing Innovation Cluster (NAMIC),  is intended to boost Singapore’s manufacturing sector. The development was announced on Tuesday, 22 September 2015, at TechInnovation, a technology-industry brokerage event organised… Read more »

Techventure 2015: Startups to drive shift towards innovation economy

Now in its 19th year, Techventure offers global investors and startup ventures a platform to meet, connect and discuss partnership opportunities, to help advance technology from idea to market. In a keynote address at the opening of Techventure 2015, Vivian Balakrishnan noted that Singapore’s startup ecosystem has matured, with Techventure as a key component of… Read more »

Jungle Ventures clocks 65% commitment for $100m fund from Singapore’s Temasek & NRF, Kumar Malavali, Prabhu Goel & Indonesia’s Orion

Singapore-based early stage investor Jungle Ventures, has clocked 65 million in commitments, for its $100 million second investment fund, its founders and managing partners, Anurag Srivastava and Amit Anand, said in an interaction. The duo also said that Jungle Ventures II, LP fund has hit its first close, a development that… Read more »

Singapore’s famed chilli crab maker Jumbo Group to raise $21m from listing

Seafood restaurant chain Jumbo Group, a Singapore-based brand known for their signature chilli crab dish, is planning an initial public offering (IPO) on the Catalist board, the junior board of the Singapore Exchange (SGX). This is according to a preliminary offer document lodged on Monday, 21 September 2015. Operating across Singapore and mainland… Read more »

Singapore’s National Research Foundation to invest another $28m in startups

Singapore has launched the third edition of its Early Stage Venture Fund, titled ESVFIII, with a budget of S$40 million ($28.4 million) to catalyse the creation of corporate venture funds by large local enterprises (LLEs) along with government co-investments. The Early Stage Venture Fund (ESVF) was implemented in July 2008… Read more »

Sembcorp unit to exit Australian JV via trade sale

A unit of Sembcorp Industries, wholly-owned subsidiary Sembcorp Environment, is divesting its 40 per cent stake in joint venture SembSita Pacific Pte Ltd (SembSita), an investment holding entity for an Australian integrated waste management business. The stake will be sold to the 60 per cent JV partner, Suez Environnement Asia (Suez), for a consideration… Read more »

Singtel Optus to raise $150m from note issue

Singapore Telecommunications (Singtel), through its subsidiary Singtel Optus, is coming out with a $150-million notes issue. The seven-year, fixed-rate note will be issued on September 29, 2015. Optus, the second largest telecommunications firm in the Australian market, will be guaranteeing the notes alongside certain subsidiaries within the Singtel Group. Currently, Singtel maintains a market… Read more »