Exclusive: Acronis to consider IPO In 2016

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Singapore headquartered backup and disaster recovery software vendor, Acronis, will ‘consider’ an initial public offering (IPO) in 2016, its chief executive said. Serial entrepreneur Serguei Beloussov, who returned in May 2014, to take the reins of the company, said raising capital will not be the primary reason behind the company… Read more »

IPC Corp sells 2 Japan hotels for $29.6m

Singapore listed IPC Corporation Ltd has sold two hotels in Sapporo (Japan) for 2.69 billion yen (S$29.6 million) to GK Sapporo Holdings Tokumei Kumiai. GK Sapporo Holdings Tokumei Kumiai, a wholly owned subsidiary of the Ichigo Group Holdings (which is listed on Tokyo’s Jasdaq market and manages the Ichigo REIT),… Read more »


Matex acquires Blackgold in S$475m deal

Singapore listed chemicals and textiles manufacturer, Matex International Ltd has reached a deal with Australian coal miner and trader Blackgold International Holdings Ltd to acquire its subsidiary in a S$475 million reverse takeover deal. Matex will acquire Blackgold Holdings Hong Kong that currently owns four underground thermal coal mines in… Read more »


SG-China deals: Ying Li, k1 Ventures, Sheng Siong

In the last turn of 2014, Singapore firms continue deal making with their Chinese counterparts. Beijing’s rapidly growing realty sector has attracted Singapore-based Ying Li, that plans to make its first China investment next year. Similarly, for the Sheng Siong Group Ltd, China presents the next growth opportunity. As opportunities in its domestic market… Read more »


NOL’s APL, ST Electronics raise JV stakes

To strengthen their business overseas, two subsidiaries of Singapore firms have strategically increased shareholdings in their joint-venture companies abroad. One has acquired India-based firm as a 100 per cent-owned subsidiary, and the other has subscribed to additional capital for a majority stake in a Mexico firm. NOL’s APL Logistics buys out JV… Read more »


Lorenzo sets up $99m JV with GeneID

Struggling furniture maker Lorenzo International plans to diversify into the genetics space by acquiring the Asia-wide rights to GeneID, a certified molecular laboratory, which specialises in DNA sequencing for molecular diagnostics and onco-genetic testing. Lorenzo  plans to set up a S$124 million ($99.1 million) joint venture company with GeneID –… Read more »


Singapore firms strike realty deals in Australia

The Australia attraction for SGX-listed property firms shows no signs of slowing down. The last week has seen several local firms like Wee Hur Holdings and TEE Land, enter deals Down Under. The appetite of local companies to acquire assets in Australia is set to continue in 2015. A recent… Read more »


SG roundup: Ryobi Kiso, Poh Tiong, Lifebrandz

Ryobi Kiso to jointly develop mixed-use property development in Bekasi Singapore listed Ryobi Kiso Holdings Ltd, ground engineering solutions provider, Monday said its wholly-owned subsidiary PT Mulia Indah Perkasa (MIP), has reached a deal with PT Eka Karya Konstruksi (EKKON) to jointly develop a mixed-use property development in Bekasi, Greater… Read more »


a-iTrust to buy $152m IT property in India

Singapore listed Ascendas India Trust (a-iTrust), will shell out about S$190 million ($152 million approximately) to acquire a 1.5 million square feet IT property in Pune, India, the company said. The acquisition will be through a two-stage process.  a-iTrust will first subscribe to non-convertible debentures (NCD) amounting to S$54 million… Read more »


Raffles Edu gets approval to list OUC in HK

Singapore headquartered private education provider Raffles Education Corp has received in-principle approval from the Stock Exchange of Hong Kong for listing its subsidiary Oriental University City Holdings. This is the second major step towards its IPO as the Singapore Exchange had already issued a no-objection letter earlier this month. Malaysia’s state… Read more »