SEA Digest: Finansa to acquire MK Real Estate; Riviu raises $3.6m

In Thailand, investment banking firm Finansa has proposed to take over housing development company MK Real Estate Development in a $87.3 million deal. Meanwhile, in Vietnam, restaurant and service review website Riviu has bagged a $3.6 million funding.

Finansa to acquire majority stake in MK Real Estate

Thai investment banking group Finansa has proposed to acquire the remaining 81.2 per cent voting rights in SET-listed MK Real Estate Development for about 2.77 billion baht ($87.3 million), according to a regulatory filing.

With an 18.8 per cent stake, Finansa is currently the largest shareholder in MK.

The tender offer, which is subject to Finansa’s shareholders’ approval, is expected to occur within this year.

Finansa said it will need to appoint an independent financial advisor before going to its shareholders about the acquisition.

The company added that it had no plan to delist MK from the local stock exchange.

MK’s shares were traded at 3.06 baht apiece on Monday.

The housing development company recorded a loss of 95 million baht in the first half of 2020, compared to a 246 million baht positive income during the same period last year.

Vietnam’s Riviu nabs $3.6m funding 

Vietnamese restaurant and lifestyle service review startup Riviu has secured $3.6 million in seed funding from an undisclosed investor.

While the funding round was initially reported by local media, Dang Le Huy, co-founder and CEO of Riviu, also confirmed the development on his social media accounts.

The startup was established in 2019 and officially launched in February this year. One of the co-founders is Trang Hong Quan, founder of restaurant review site Diadiemanuong.com.

Following the seed investment, Diadiemanuong has been merged into Riviu.

Riviu provides access to information and reviews of 120.000 restaurants, hotels and other service outlets. It said to go after the model of Chinese giant Meituan-Dianping.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.