Digiland buys 65% stake in software maker iBase


Singapore-listed IT products and electronics marketing and distribution company Digiland International Wednesday announced that it had acquired a controlling stake in local software iBase Technology International for (IBTI) for S$26,0000. The deal was executed by Digiland International’s subsidiary – Digiland Pte Ltd – which bought a 65 per cent stake in… Read more »

Singapore’s DBS gets approval to set up branches in Australia

South East Asia’s largest lender, DBS Bank, said Wednesday that it had got approval to launch banking services in Australia, and added that it would open its first branch in Sydney later this month. The Singapore headquartered bank’s Australia operations will be headed by Helen Yap, who was earlier OCBC Bank’s… Read more »

Singapore based Tembusu Systems unveils TRUST framework

Singapore-based blockchain solutions provider Tembusu Systems has begun field tests of its digital currency payments using the TRUST framework, with plans for an official launch from 10th June 2015. Founded by COO Jarrod Luo and CEO Andras Kristof in October 2013, Tembusu Systems describes its proprietary TRUST framework as “a high-tech global infrastructure that lets verified individuals… Read more »

SPH acquires controlling stake in Beerfest Asia for $430k

Singapore Press Holdings (SPH) subsidiary Sphere Exhibits has acquired an additional 40 percent stake in Beerfest Asia Pte Ltd, the company organising the annual Beerfest Asia event. The deal makes SPH the majority shareholder, with an 80 percent stake in the company. Sphere Exhibits purchased 4000 shares in Beerfest Asia from Timbre for… Read more »

SG Realty Dealbook: Nordic Group and Cache Logistics divestment, Lian Beng acquisition

The last week has seen Nordic Group divest a commercial property at One Commonwealth through its subsidiary Multiheight Scaffolding, as well as an additional divestment by Cache Logistics Trust. An acquisition of Melbourne property for a purchase consideration of US$19.26 million was also proposed by Lian Beng Group. Nordic Group divestment… Read more »

SG Dealbook: Food Empire Holdings exits frozen seafood biz, Kingsmen Creatives buys 100% in KNA

Singapore-listed firms have announced buyouts and exits on Wednesday with Food Empire Holdings announcing that it had sold its entire stake in seafood business, even as Kingsmen Creatives said it had increased its holdings in one of its companies to 100per cent. Food Empire sells its 40% stake in PT Marindo Makmur… Read more »

Google boosting Singapore investment to $500m

Google Inc. is expanding its data centre footprint in Singapore, investing in a second “larger, multilevel” facility that will bump its long-term investment in the city-state to $500 million (S$675 million). Joseph Kava, VP of Data Centres at Google Asia Pacific, said in a blog post that the new data centre will be… Read more »

ASEAN and a renewable energy future

The advent of the new technologies, such as the Tesla Powerwall, has implications for the energy infrastructure of ASEAN and the renewable energy sector worldwide, says  an EDB article. The Tesla Powerwall is a wall-mounted energy storage unit able to store 10 kilowatt hours of electric energy and deliver it at an… Read more »

Singapore-based robotics startup CtrlWorks raises $1.3m seed funding

Singapore-based robotics startup CtrlWorks Tuesday said it had raised seed funding to the tune of S$1.3 million. The round was led by Wavemaker Labs and includes the National Research Foundation as well as strategic and angel investors, the company said. It will use a bulk of the funding to expand… Read more »

Straits Trading Company’s SRE Venture 7 invests S$53.4m in Greater Tokyo Office Fund

The Straits Trading Company Tuesday said its subsidiary, Straits Real Estate Pte Ltd. (SREPL), through its wholly owned subsidiary, SRE Venture 7, has entered into a subscription agreement with Greater Tokyo Office Fund (Jersey). The fund focuses on acquiring office assets in the Greater Tokyo area, which may include Tokyo, Kanagawa, Saitama,… Read more »