Thai SCG Packaging acquires majority stake in Malaysian firm for $26.5m

Image from SCG Packaging.

SCGP Solutions (Singapore) Pte Ltd, a wholly-owned subsidiary of Thailand’s largest packaging paper firm SCG Packaging, has acquired 68.3 per cent stake in Malaysia’s Interpress Printers Sendirian Berhad (IPSB) for 104.5 million ringgit ($26.5 million), according to a Stock Exchange of Thailand filing on Monday.

Thai conglomerate Siam Cement Group (SCC), a parent company of SCG Packaging, cited in the filing that the remaining stakes will be held by IPSB’s existing shareholders.

This acquisition is in line with its commitment (SCG Packaging) in becoming a total packaging solutions provider in ASEAN countries as well as exhibits its potential to serve the burgeoning region’s fast food consumption, evolving lifestyle and preferences of consumers, the filing said.

IPSB, located in Selangor state, is a food-grade paper packaging leader that serves global fast food restaurant chains. Its main products include folding cartons, formed trays, clamshells, wrappers and bags.

SCC said, IPSC reported total sales in 2017 of around 585 million baht ($18.35 million), mainly generated from its export sales.

In ASEAN, SCG Packaging is the market leader in Thailand and Vietnam. It has formed Vina Kraft Paper Co Ltd, a joint venture with Japan’s Rengo Company, and invested $330 million in setting up the largest packaging paper plant in Vietnam.

Roongrote Rangsiyopash, president and CEO of SCC, previously told local media that it was looking at aggressive expansions in ASEAN with new investments and via mergers and acquisitions.

It plans to focus on three businesses: construction materials, petrochemical and packaging, said Rangsiyopash, adding that it will also double the number of employees by 2026, with half based in Thailand and the rest in other ASEAN countries.

Also read:

Thailand: SCG’s VC arm makes first startup investment in logistics player GIZTIX

Thailand: SCG’s VC arm AddVentures invests in Wavemaker SEA Fund II

Siam Cement, PetroVietnam to invest $5.6b in Vietnam’s first petrochemical complex

 

 

 

 

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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.