PH power firm EDC to refinance subsidiary’s $111.7m debt

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Philippine-listed geothermal company Energy Development Corporation (EDC) plans to refinance the $111.7 million (P5 billion) debt of its local subsidiary Bacon-Manito Geothermal Inc (BGI). Francis Giles Puno, chief financial officer of EDC’s parent firm First Philippine Holdings Corporation (FPH), revealed the plan on Wednesday, referring to the maturing bonds from… Read more »

HK-based First Pacific offers $125m for Malaysia’s Cocoaland

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Confectionery maker Cocoaland Holdings Bhd, which last week rejected a buyout offer from Navis Asia Fund VII, LP,is now being courted by a new suitor. The company is said to have received a bid from from Hong Kong-listed First Pacific Co Ltd. First Pacific has proposed to buyout Cocoaland’s business for a total consideration… Read more »


Vingroup, Vietinbank & VPBank in race for strategic stake in Saigon Port

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Vietnam-based property giant Vingroup, and commercial banks  – Vietinbank and VPBank – have all put in bids to buy a strategic stake in the country’s busiest container Saigon Port, as the state-owned company prepares for its initial public offer (IPO) this month. The names of the bidders were unveiled by Ho Chi… Read more »


SPH acquires controlling stake in Beerfest Asia for $430k

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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 »


Hibiscus Petroleum aborts acquisition of Talisman Resources for $18m

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Hibiscus Petroleum Bhd‘s $18 million proposed acquisition of Australia-based Talisman Resources Pty Limited has fallen through, terminating its share sale agreement (SSA) accordingly. Talisman Resources holds a 25 per cent stake in the Kitan producing oilfield that was discovered in 2008 and started production in 2011. In a statement to Bursa Malaysia,… Read more »


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

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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

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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 »


MSM in advanced talks for two upstream Indonesia acquisitions

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Sugar-producer MSM Malaysia Holdings is reportedly, in advanced talks to acquire two Indonesian firms in the upstream market, local newspapers published. The Edge Financial Daily said that MSM is in “advanced” negotiations to acquire two Indonesia-based firms operating in the upstream market. MSM is also exploring opportunities to form strategic alliances or mergers and… Read more »


Thailand’s PTT in search of partners for LNG supply

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Thailand’s leading energy conglomerates PTT PLC is looking for alliance for sourcing the supply of liquefied natural gas (LNG) to serve the surging demand in Thailand. Pailin Chuchottaworn, CEO and President of PTT, said that it aims to use the World Gas Conference 2015 in France as a stage to seek… Read more »


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

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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 »