Canada’s Manulife seeks to raise $426m in Singapore IPO of US assets

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Canadian financial services group Manulife is seeking to raise $426 million by listing its real estate investment trust (REIT) in Singapore, and the company has begun building up its order book for the float, as per the prospectus filed with the Monetary Authority of Singapore. The US REIT, plans to list in… Read more »

L Capital unit buys debt-ridden Jones the Grocer for S$2.75m

Debt-ridden Australian gourmet chain Jones the Grocer‘s operations in Singapore – which include its outlets in Dempsey Hill and Mandarin Gallery – have been bought by Fresh Bay Investments for S$2.75 million. Fresh Bay Investments is a unit of private equity firm L Capital Asia, the equity arm of luxury… Read more »


More Singapore SMEs expanding abroad through M&A

More Singapore small and medium-sized enterprises (SMEs) are merging with foreign firms or acquiring companies abroad to expand their regional and international footprint, says an AsiaOne report. Singapore trade agency International Enterprise (IE) Singapore said there is a growing trend of SMEs involved in overseas M&As. According to SMEs, mergers and acquisitions (M&A)… Read more »


Evercore poaches Axel Granger from BOA Merrill Lynch:Report

Axel Granger, previously head of mergers and acquisitions (M&A) for Southeast Asia at Bank of America Merrill Lynch, has joined the Singapore office of Evercore, an independent investment banking advisory firm, a report in FinanceAsia said. Granger will be reporting to Keith Magnus, the CEO of the Evercore Singapore, which launched in 2013 and is focused… Read more »


Cryptocurrency and fintech integral to the human economic condition: Jarrod Luo

With the recent pivot of former Bitcoin ATM manufacturer Tembusu Systems into the cryptocurrency space, and the unveiling of its newest product, the TRUST platform, Jarrod Luo, the COO and co-founder of Tembusu Systems says that Singapore offers the most liberal and transparent treatment for the industry in the wider region. Luo,… Read more »


LUXE Real Estate acquired by India realty advisory Square Yards

Real estate advisory firm Square Yards has acquired Singapore-based property advisory firm LUXE Real Estate for an undisclosed sum. This strategic acquisition will facilitate Square Yards foray into the prime district areas of Singapore’s property market, which serves as a major capital preservation market for investors, given the finite land supply… Read more »


Frasers Hospitality REIT raises S$123m from placement of stapled securities

Singapore-listed Frasers Hospitality REIT announced that it had completed a private placement of 150 million new stapled securities to raise S$123.0 million, to part finance the acquisition of Sofitel Sydney Wentworth. The private placement was priced at the top end of the price range at S$0.820 per stapled security, the… Read more »


Temasek unit agrees to JCET’s cash offer for STATS ChipPAC

Temasek’s wholly owned unit STSPL, which has a controlling stake in STATS ChipPAC, has accepted the final cash offer from JCET-SC to buyout the company. JCET-SC (Singapore) is offering 46.577 Singapore cents per share or S$1.03 billion, what it terms as the final price, to buyout STATS ChipPAC. JCET, a… Read more »


Standard Chartered Private Equity invests $52m in Crystal Jade

Standard Chartered Private Equity (SCPE) Thursday announced it had invested $52 million Crystal Jade Group Holdings, that operates over 100 outlets ranging from fine dining, casual and specialty restaurants to bakeries across the Asia Pacific region with a primary focus in Singapore, Hong Kong and Mainland China Crystal Jade in turn is a portfolio company of… Read more »


SG Dealbook: Fundraising by Trek 2000 for $11.8m & Leader Env for $2.3m

Several Singaporean firms are engaging in fundraising exercises. Trek 2000 International and Leader Environmental Tech are planning to raise several million amidst changes in technical standards, technical innovations and global market shifts caused by the boom currently being seen in emerging markets. Trek 2000 proposes placement of new and treasury… Read more »