SG: SIIC Environment acquires wastewater operations; Fragrance Group to acquire Imperial Hotel

The latest deals among listed entities in Singapore has seen SIIC Environment Holdings complete the acquisition of CITIC Envirotech Water Resource (Hegang) Co., Ltd for RMB112 million, while Fragrance Group Limited has entered into a contract to acquire imperial hotel for £12.8 million.

SIIC Environment Holdings completes acquisition of CITIC Envirotech Water Resource for RMB112m

Water treatment group SIIC Environment Holdings Ltd has acquired CITIC Envirotech Water Resource (Hegang) Co. from CITIC Envirotech Ltd. through its indirect subsidiary, Longjiang Environmental Protection Co.

CEW Hegang was acquired for RMB112 million and was funded by internal cash resources. It is currently involved in the operation of two waste water treatment plants and one reclaimed water project with a total design capacity of 110,000 tons per day.

Fair value estimate of CEW Hegang as determined by an independent valuer ranged between RMB 110.89 million to 111,05 million.

Fragrance Group to acquire Imperial Hotel for £12.8m

Mainboard listed property company Fragrance Group Limited has entered into a contract to acquire Imperial Hotel for £12.8 million.

The Group’s subsidiary, Fragrance UK-Blackpool Limited, entered into an agreement to purchase the four-star hotel located at North Promenade.

The historic hotel built in 1867 has a total land area of approximately 9,388 square metres and boasts more than 180 bedrooms and nine suites.

The acquisition of the Property is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the current financial year ending 31 December 2017.

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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.