Singapore’s M&S Partnerts invests $250K in P2P lending marketplace Faircent

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Singapore-based M&S Partners, led by founder and CEO Hiro Mashita, has invested $250,000 in Fairassets Technologies, the company behind peer-to-peer (P2P) lending marketplace Faircent. The latest deal values Gurgaon-based Fairassets, that was founded in 2013, at $8 million. The deal materialised following Faircent’s participation in InnoTrek delegation, an initiative of IT industry body NASSCOM’s… Read more »

SG Dealbook: Singtel joints Alibaba cloud computing alliance; GIC seeks West Bengal opportunities

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Singaporean government-linked corporations are notable for their investments and dealings abroad, as well as their portfolio management methods, which are held up as models for state-owned enterprises.  State-owned Temasek Holdings, for instance is often noted has been the subject of an NUS-CIMA study.  Meanwhile, GIC has been the subject of much research often focused… Read more »


Longcheer to acquire stake in Puteri Cove development for over $89m

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Singapore-listed Longcheer Holdings Ltd has entered into a non-binding memorandum of understanding (MOU) with Pacific Star Development to acquire the latter’s 51 per cent interest in Puteri Cove Residences & Quayside for S$120-150 million ($89.1-111.4 million) in a cash-cum-shares transaction. The other 49 per cent interest of this development project in Puteri Harbour,… Read more »


SG Dealbook: Lizhong Wheel acquires majority stake in competitor; CSE Global divests stake in engine unit

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Singapore’listed companies conducted a series of deals last week. Lizhong Wheel and has made a vertical deal, acquiring a stake in its competitor. Meanwhile, CSE Global has divested a 2012 acquisition for a profit. Lizhong Wheel’s Tianjin unit buys 60% stake in fellow manufacturer Lizhong Wheel Co., a manufacturer of aluminium alloy wheels,… Read more »


Thai cellphone retailer JMART in talk to acquire another retailer this year

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After its recent acquisition of a minority stake in the home-appliances distributor SINGER (Thailand) PCL, Thailand’s mobile phone retailer JayMart PCL (JMART) is in negotiations to acquire one another retailer this year, and the company is working towards its goal of becoming the country’s retail leader, an executive with the firm… Read more »


Thai carpet maker TCMC acquires British furniture firm Alstons for $38m

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Thai Carpet Manufacturing PCL (TCMC) has acquired 76 per cent stake in the United-based furniture manufacturer Alstons for 24.5 million pound (approximately $38 million), in a bid to expand its business in overseas through Alstons’ distribution channel. Alstons is the well-known furniture brand with long history in the UK. It… Read more »


LTC Group acquires 50% in USP Equity for $18m

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Singapore-listed LTC Corporation said that its wholly owned unit, LTC Capital Holdings Sdn Bhd, entered into a share purchase agreement on Friday with USP Resources Sdn Bhd to acquire a 50 per cent stake in USP Equity Sdn Bhd for MYR70.14 million ($18.17 million). Both companies had first agreed to the terms… Read more »


SG Dealbook: Olam acquisition of ADM approved by EU; Lippo Malls gets S$260m loan

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Two Singapore-listed firms have engaged in deals, with Olam being granted permission by the European Commission (EC) to complete the acquisition of Archer Daniels Midland Co‘s (ADM) cocoa business, and LIPPO Malls Indonesia Retail Trust said it had received commitments from BNP Paribas and Standard Chartered for a S$260 million loan. Olam… Read more »


EastWest gets PH central bank’s approval for insurance business

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EastWest Banking Corporation has received approval from the Philippine central bank or Banko Sentral ng Pilipinas (BSP) for its initial equity investment in the wholly-owned insurance brokerage, EastWest Insurance Brokerage Inc (EWIB). EastWest informed the stock exchange yesterday that BSP approved its undertaking in EWIB in a letter dated June 4. “The… Read more »


Meliá accelerates growth in Asia Pacific as it enters Myanmar

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Spanish hotel chain Meliá Hotels International is progressing with its expansion strategy in Asia Pacific, a key growth market, where the company’s portfolio now stands at 24 hotels and more than 6,300 rooms. The company has announced its entry into Myanmar with the signing of Meliá Yangon, a project which… Read more »