Standard Chartered PE (SCPE), the investment arm of the British Bank, will inject up to $50 million, into a company that is wholly owned by TT International, a Singapore based player that undertakes global trading of consumer electronics.
SPCE will invest in TT International company Omni Capital through a share subscription agreement to form a joint venture, and will take a 49% stake in the Omni Centre Pte. Ltd. (the JV Company). The joint venture will also be involved in consumer electronics business, both companies said.
TT International distributes its products under several brands such as Akira for consumer electronics, as well as furniture retailing brands like ModLiving and Castilla among others.
Standard Chartered PLC‘s private equity arm has been active in the region during the last couple of months, and in September this year, it had picked up an equity interest in Vietnamese restaurant chain operator Golden Gate for $35 million. Last month, it had had acquired a 3.8% holding in Thai frozen food giant TUF.