SG Dealbook: HC Surgical Specialists in M&A; Keppel note subscription

HC Surgical Specialists has acquired a 51 per cent stake in Julian Ong Endoscopy & Surgery for S$2.175 million while Keppel Corporation as subscribed for 107.2 million notes with 964.9 million warrants under KrisEnergy.

HC Surgical Specialists picks 51% in Julian Ong Endoscopy & Surgery

HC Surgical Specialists announced on Wednesday that it entered into a sale and purchase agreement to acquire a 51 per cent stake in Julian Ong Endoscopy & Surgery (JOES) for S$2.175 million.

JOES, incorporated in 2017, is 90 per cent owned by Julian Ong Surgery while the remaining 10 per cent is owned by Dr. Julian Ong.

JOES will establish and operate a new endoscopy clinic at Mount Elizabeth Novena Hospital with Dr. Ong being employed as a specialist surgeon.

Dr. Ong will be paid S$1.75 million in cash and receive one million new shares in HC Surgical at an issue price of 60.59 cents each. Julian Ong Surgery will also be paid S$1.394 million in cash.

In a filing to the Singapore Exchange, HC Surgical said, the acquisition was in line with the company’s plan for growth and its expansion into Singapore.

Keppel subsidiary subscribes for 107.2m KrisEnergy notes

Keppel Corporation announced on Wednesday that it subscribed for 107.2 million notes with 964.9 million warrants under KrisEnergy through its indirect wholly subsidiary KOG.

The news follows a December 9 announcement of its provision of an irrevocable undertaking to KrisEnergy.

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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.