Singapore: Surbana Jurong acquires Aetos Holdings from Temasek

Visual of Surbana Jurong website. November 2015

Urban development group Surbana Jurong has acquired Aetos Holdings, one of three licensed auxiliary police organisations in Singapore, from investment firm Temasek Holdings. Financial terms of the deal are undisclosed.

According to a media release issued by Surbana Jurong on Friday (October 14), the acquisition of 100 per cent of Aetos would expand its “service offerings to include safety and security capabilities”.

Headquartered in Singapore, Surbana Jurong Private Limited (SJ) was formed in June 2015 through the merger of urban planning & affordable housing design expert Surbana International Consultants, and Jurong International, an industrial and infrastructure engineering design conglomerate. Surbana Jurong is jointly owned by Temasek and JTC through a 51-49 partnership.

With this acquisition, the Surbana Jurong Group will now have a global workforce of almost 13,000 employees in over 95 offices across 40 countries in Asia, Australia, the Middle East, Africa and the Americas, with an annual turnover of around S$1.3 billion.

AETOS is one of the three licensed auxiliary police organisations in Singapore and is the second largest auxiliary police force, with a total group staff strength of 2900 people.

AETOS has provided security solutions for signature events such as the year end Marina Bay Singapore Countdown, the Singapore F1 night race, Singapore Airshow and the 2015 South East Asian Games. It is also the region’s leading provider of Unmanned Aerial Vehicles (UAVs).

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This development follows the acquisition of Australia-based infrastructure engineering designer SMEC Holdings in August 2016. With AETOS’ large force of armed and unarmed guards, this will see Surbana in a position to provide Infrastructure owners with infrastructure protection for their transport (rail, airports, seaports, tunnels) and industrial (petrochemical and pharmaceutical plants, biomedical facilities) assets.

Commenting on the acquisition, Group CEO of Surbana Jurong, Wong Heang Fine, said, “Safety and security services have become an integral aspect in urban planning and infrastructure development amidst the changing nature of security threats globally.”

According to Wong, this will allow their master plans and building designs to “integrate security and safety management as a total package in our facilities management services for the real estate sector,” while Aetos’ UAVs will be used to enhance their surveillance security services and land survey capabilities.

Commenting on the acquisition, James Tan, Executive Director and Group CEO of AETOS stated: “We are pleased to become a part of the Surbana Jurong group. The enlarged platform will provide immense new opportunities across the urban and infrastructure planning and development space, and allow AETOS broader scope to actively use technology to complement human resources in the security arena.”

“We are also very keen to grow our security consultancy business together with Surbana Jurong, supporting its SMART City and Building Consultancy businesses. We can integrate our security management expertise with SJ’s facilities management capabilities to provide value added services for building owners and operators in the real estate sector globally.”

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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.

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.