iRipple mulls sale of operating assets 

homepage of iRipple inc

Philippine-based international retail tech company iRipple Inc, as part of its corporate restructuring exercise, has informed the the Philippine Stock Exchange (PSE) that it plans to sell off its operating assets and assignment of liabilities.

The company’s board of directors have authorised its president Victor Javier to lead the negotiations.”[The sale] is in preparation for a contemplated change in primary purpose of the company, that is a holding corporation,” iRipple said in its PSE disclosure.

iRipple, which has subsidiaries in Thailand and Malaysia, provides fully integrated point-of sale software, retail management systems and inventory management.

The software solutions firm, in its disclosure to the exchange , said that it is looking for a third party to sell assets at terms and conditions to be negotiated and finalised.

The assets involves cash and cash equivalents, trade and other receivables, inventories, property and equipment and other assets. A specific description of the assets shall be provided upon finalisation of the terms of the sale.

However, the manner and specific terms of the sale are yet to be determined and the value of assets and liabilities will be disclosed after that.

iRipple’s traded price (at the time of filing this feature) was P77.70 which is up by P8.20 (11.80%) compared to yesterday’s closing at P69.65.

iRipple was incorporated in 2000 to establish, operate, develop, manage and provide software solution projects and related businesses as well as to engage in trading of computer hardware and software products. The company started commercial operations in January 2002. In 2012, iRipple incorporated its Malaysia and Thailand subsidiaries.

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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.