SG Digest: Shenzhen Investment picks stake in Tritech; ST Engineering invests in unit

Singapore Stock Exchange. Photo: Bloomberg

In the latest series of investments in the country, Shenzhen Investment and Financing Development Company has entered into an agreement to acquire a 29.99 per cent stake in environmental engineering firm Tritech Group, while ST Engineering’s land systems arm made a capital infusion of $10.2 million in SDG Kinetics.

Tritech sells stake to HK’s Shenzhen Investment

Shenzhen Investment and Financing Development Company, a subsidiary of Hong Kong Lead International Capital Group, has entered into an agreement to acquire a 29.99 per cent stake in Singapore’s environmental engineering firm Tritech Group.

Shenzhen Investment will pay a cash deposit of RMB 5 million (S$1.02 million) to Tritech within 10 working days for the subscribed shares, Tritech said in an exchange filing.

Shenzhen Investment will subscribe to an interest of not more than 29.99 per cent in Tritech’s share capital through a series of proposed private placement of new shares, it said.

The strategic investment agreement will see Tritech and Shenzhen Investment collaborate to permit Tritech to access the global capital networks of Hong Kong Lead International Capital.

Concurrently, Shenzhen Investment will assist in capital raising requirements and explore the launch of an environmental fund for any public private partnerships project Tritech secures in the China to support future corporate acquisitions.

ST Engineering injects S$10.2m into SDG Kinetics

ST Engineering’s land systems arm, ST Kinetics, has made a capital infusion of $10.2 million into SDG Kinetics (SGDK), it said in a statement on Tuesday.

This follows SDG Kinetics making a corresponding capital injection of the same amount into LeeBoy India Construction Equipment as working capital. The latest capital injection brings SDGK’s total investment in LeeBoy India to about S$54.5 million.

Headquartered in Bangalore, LeeBoy India designs and manufactures high-performance road construction and excavation equipment.

ST Kinetics, headquartered in Singapore, employs a skilled workforce of some 5,000 people to support customers in over 40 countries. In FY2016, the company recorded revenue of S$1.3 billion.

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.