SG Dealbook: Karin Tech buys stake in MasterKloud; GKE Corporation, GushCloud form JVs

Buildings stand illuminated at dusk in the central business district of Singapore, on Sunday, June 4, 2017. Photographer: Sanjit Das/Bloomberg via Getty Images

Karin Technology has incorporated a Hong Kong cloud services firm, MasterKloud, while GKE Corporation and GushCloud have launched joint ventures (JVs).

Karin Technology incorporates Hong Kong JV

Karin Technology Holdings has entered into an agreement with Hong Kong-listed Masterson Technology to incorporate a new private company called MasterKloud Technology.

Karin Technology will subscribe to a 20 per cent stake in MasterKloud for HK$100,000 (S$17,189) while Masterson will subscribe to the remaining 80 per cent stake for HK$400,000. The new joint venture (JV) will provide cloud-related technology services and the hosting of cloud solutions for corporations and enterprise customers.

Karin Technology says the transaction is not expected to have any material impact on the group’s earnings per share and net tangible assets per share for the financial year ending June 10, 2018.

GKE Corporation launches JV

Logistics providers GKE Corporation and Kleio One-Solution have set up a JV called G-Chem Logistics for a total consideration of S$460,000. The partnership will see both firms provide hazardous chemicals warehousing and logistics services for packed products, laden ISO Tanks, and chemical drumming.

GKE will invest cash amounting to S$300,000 for a 65 per cent stake in G-Chem while Kleio will subscribe to the remaining 35 per cent stake for S$160,000.The total subscription consideration will be used to fund the purchase of four units of explosion-proof pallet drum filling machines for its business activities, as well as for working capital.

“This joint venture will further strengthen the group’s hazardous chemical storage and logistics capabilities – broadens our range of services and transforms the group into a one-stop integrated chemical storage and logistics service provider to serve both the chemical and pharmaceutical sectors in Singapore,” says Neo Cheow Hui, CEO of GKE, on the joint investment in G-Chem.

GushCloud launches Vietnam JV

Gushcloud Agency, the marketing group at Gushcloud International, and YAN Digital, the digital arm of Vietnam-based YAN Media Group, have launched a new JV — GY Entertainment — for influence management and marketing.

Headed by Ng Siang Hang, CEO of Gushcloud Agency, the new JV aims to leverage YAN Media Group’s leading youth presence via YAN TV in Vietnam’s entertainment industry and Gushcloud International’s regional network.

The JV aims to manage and represent the top digital influencers and creators in Vietnam and connect them with global brands to reach out to the Vietnamese millennial audience. GY Entertainment will be managing digital influencers, creators and talents within the Gushcloud and YAN Digital roster. The company will also focus on helping global brands reach out to the Vietnamese audiences through these influencers’ and creators’ digital platforms.

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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.