Malaysia: OSK buys Seremban land for $810m development, LBI sells land to unlock funding for other plans

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In a challenging realty market, Malaysian developers are weighing their landbanking options carefully to get the best out of their assets. OSK Holdings looks to purchase land in light of potential value creation by the Kuala Lumpur-Singapore high-speed rail, while LBI Capital divests from its land assets, acknowledging the tough… Read more »

Singapore: Olam acquires wheat mills,expands African footprint

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Singapore-based Olam International has acquired Amber Foods Limited, which through its wholly-owned subsidiary, Quintessential Foods Nigeria, owns the wheat milling and pasta manufacturing assets of the BUA Group in Nigeria, for a total enterprise value of $275 million. The purchase is being financed through a combination of debt and internal accruals, with… Read more »


Singapore: Global Food forms QSR JV; Koh Brothers merge subsidiaries

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Restructuring and joint ventures are the order of the day for Singaporean firms. A subsidiary of Global Yellow Pages, Global Retail Food Group, has established a joint venture with South Korean firm Aimer Co to grow their respective brands. Meanwhile, the Koh Brothers conglomerate is restructuring to enhance operational efficiencies…. Read more »


Singapore: Noble Group chairman Elman increases holding as shares sink

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Elman bought 10 million shares in Asia’s top commodity trader on Friday for S$3.19 million ($2.2 million), raising his holding to 22.13 percent, according to a statement to the Singapore exchange on Monday.


India 2015: Hotel deals rebound as sellers climb down on valuations

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Deals in the hotel industry picked up in 2015 after a slump of more than four years as market conditions improved and valuations fell. According to property consultant JLL India, 15 hotel deals were signed in the country in 2015 against two in 2014 and three in 2013. Real estate… Read more »


Bank security service provider Brink’s calls off plans to sell biz in India

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Brink’s, the US-based security service provider for banks, has called off its plan to sell the cash management business of its India unit, Brink’s Arya India Private Ltd, said two persons familiar with the development. The parent company was looking to exit the business at a value of around Rs.400… Read more »


MY Dealbook: Scientex begins $113m sukuk issuance, Sarawak Cable’s lowers net gearing, Seacera’s raises $4.3m for property biz

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Corporate Malaysia ended the first work week of the year with a few fundraising activities to carry out core business activities, in buying land, paying off borrowings and property development. Scientex’s unit issues first tranche of $112.97m sukuk Scientex Quatari Sdn Bhd, a wholly-owned subsidiary of Scientex Bhd, has issued… Read more »


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

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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 »


Chip-makers Texas Instruments, Analog Devices drop plans to bid for Maxim

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Chipmakers Texas Instruments Inc and Analog Devices Inc have decided not to pursue an acquisition of Maxim Integrated Products Inc at this time, Bloomberg reported, citing people familiar with the matter. Both potential buyers could not reach an agreement on price with Maxim, Bloomberg reported on Friday. Maxim’s shares closed… Read more »


Yello Digital picks INTUCH stake in Computerlogy for $1.5m

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Thailand’s listed Intouch Holdings Plc (INTUCH) has sold its entire stake in Computerlogy, a social media analytic tool developer, to S Korea’s fast-growing digital marketing group Yello Digital Marketing Group (YDM) for 54.28 million baht (approximately $1.5 million). This transaction is supposed to be a part of YDM’s acquisition of… Read more »