SG Digest: KrisEnergy to divest 30% in unit; OUE Lippo-Wuxi Bohai deal

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Singapore-based KrisEnergy is planning to divest 30 per cent stakes in Indonesia-based oil and gas block Andaman II Production Sharing Contract while OUE Lippo Healthcare will acquire a 70 per cent stake in Wuxi Bohai Hospital Co Ltd.
Singapore’s KrisEnergy divests 30% in Andaman II PSC
Singapore-based KrisEnergy is planning to divest 30 per cent ownership in Indonesia-based oil and gas block Andaman II Production Sharing Contract (PSC), according to a company statement.
A major international oil and gas company offered a binding letter of offer for KrisEnergy’s non-operated working interest in the block, with undisclosed valuation.
Andaman II PSC is an exploration block located in North Sumatera Basin covering 7,400 sq km area.
The divestment is related to KrisEnergy’s strategy to focus its limited financial resources on other existing assets in Bangladesh and the Gulf of Thailand, as well as the development of Apsara Oilfield in Cambodia block A.

OUE Lippo Healthcare to pick 70% stake in Wuxi Bohai Hospital

Singapore-based OUE Lippo Healthcare Limited (OUELH) has announced that it will acquire a 70 per cent stake in Wuxi Bohai Hospital Co. Ltd for approximately RMB 9.8 million or S$1.9 million.

OUELH will manage and operate the Grade II 100-bed hospital located in Wuxi, Jiangsu.

According to OUELH, this acquisition, which is expected to be completed by 31 December 2019, is in line with the company’s strategy of expanding hospital operations business.

“The acquisition is in line with our asset-light strategy, as we strengthen our presence in China and build upon our hospital operations and management business,” said OUELH CEO Yet Kum Meng.

 

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.