PH co Xurpas acquires Altitude Games for $740k

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Fresh from raising P1.36 billion (US$30.4 million), through its maiden public offer earlier this month, Philippine mobile giant Xurpas Inc has opted for the inorganic expansion route, by acquiring a 21.7 per cent  stake in the Singapore tech company Altitude Games for P33 million ($740,800). According to the disclosure made by the… Read more »

Phu Cuong invests $436m in wind energy

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Phu Cuong Group has signed memorandum of understanding (MoU) with Vestas Wind System (Vestas) for the 170 MW wind farm project in Soc Trang province. The total investment for the project will be $436 million, disbursed over several phases. The first phase of the project has a capacity of 30… Read more »


PE firm Riverside buys Malaysia’s Drex-Chem

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US-based private equity firm The Riverside Co said it had acquired Drex-Chem Malaysia (Shah Alam, Malaysia), a value-added specialty chemical distributor. Both companies did not disclose deal details. This marks the PE firm’s first investment in Southeast Asia. Riverside said it plans to grow Drex-Chem Malaysia, both organically and through selected… Read more »


Thailand’s IEC diversifies into energy business

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The International Engineering Plc (IEC), the listed mobile phone distributor and engineering firm, is diversifying and shifting its focus to renewable energy business next year. This move is aimed at generating a better return on business, and the company plans to get listed in energy sector instead of the current… Read more »


TKS targets Myanmar, Cambodia in expansion bid

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TKS Technology Plc, a Thailand-based paper and printing major, is  diversifying into logistics and food sector, in a bid to take advantage of the upcoming ASEAN Economic Community(AEC), in 2015. According to TKS technology’s managing director Siriwan Sukanjanasiri the company is already in talks with other industry players to either acquire a… Read more »


GLP partners Singapore’s GIC for $8.1b IndCor deal

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Global Logistic Properties Limited (GLP), a leading provider of modern logistics facilities in China, Japan and Brazil, will be co-investing with Singapore’s sovereign wealth fund GIC to acquire IndCor Properties Inc for $8.1 billion. Last week, private equity firm Blackstone Group LP had announced that a group of investors led… Read more »


Frontier Digital Ventures enters Myanmar with two deals

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Frontier Digital Ventures (FDV) has made two landmark investments in Myanmar’s leading online automobile and property websites, marking its foray into the premier frontier market. The websites are MyanmarCarsDB.com and iMyanmarHouse.com. FDV offers participating entrepreneurs a singularly unique proposition, providing not only necessary capital, but also invaluable expertise in developing,… Read more »


Vietnam rubber major VHG acquires 18% in SRC

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As part of it’s inorganic expansion plan, the Vietnam-based rubber major Quang Nam Rubber Investment JSC (VHG), formerly known as formerly Viet-Han Corporation has increased it’s ownership in the oldest rubber industry player of the country – the Sao Vang Rubber JSC (SRC) – to 18 per cent with an additional investment of $3.6 million…. Read more »


Olam buys US peanut sheller MMI for $176m

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Singapore-based agri-business operating firm Olam International Limited has agreed to buy leading American peanut sheller, McCleskey Mills Inc (MMI), at an enterprise value of $176 million, the companies said. The acquisition will be funded by a combination of internal accruals and existing debt facilities and the transaction is expected to be… Read more »


Nguyen Yen to increase stake in Masan to 4%

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Nguyen Hoang Yen, a board member of the Masan Group and vice president (VP) at Masan Consumer is planning to increase her stake in the company to 4.05 per cent through an additional investment of VND 644 billion  ($30 million). According to the Ho Chi Minh Stock Exchange (HOSE), earlier,… Read more »