SG Dealbook: Weiye to relist Eindec on Catalist; A-Sonic picks majority in UK logistics firm

Singapore firms are looking at capital raising and acquisitions to fortify their positions in overseas markets. Weiye Holdings will be spinning off Eindec Corp onto the Catalist board to raise growth capital for expanding capacity to meet increased demand for air filtration equipment in China. A-Sonic Aerospace is strengthening its position in Europe, with the acquisition of a majority stake in a UK logistics firm.

Weiye to relist Eindec Corp unit on Catalist

In the aftermath of a reverse takeover (RTO) of Mainboard-listed cleanroom equipment maker Kyodo-Allied Industries in 2011, Chinese property developer Weiye Holdings is now conducting a corporate spinoff of Kyodo-Allied to the SGX Catalist board.

Now rebounded as Eindec Corp, the firm plans to expand into manufacturing and selling air purifiers to mainland Chinese consumers, according to a preliminary offer document. Eindec states that it has factories in Malaysia and Singapore. There is growing demand from emerging markets for clean room equipment and air purifiers in China, it said.

Weiye has lodged a preliminary offer document for the business, currently operating under the Eindec Corp brand, it disclosed in a Singapore Exchange filing on Friday. Eindec’s initial public offering (IPO) will be done entirely through a placement of shares.

Details on the IPO price and trading date have not been made public yet. As on 14 December 2015, Weiye Holdings maintains a market capitalisation of S$71.62 million ($50.78 million), with a price to earnings ratio of 3.19.

A-Sonic Aerospace buys majority in UK logistics firm

A-Sonic Aerospace has acquired a 51 per cent stake in a UK-based logistics company via the subscription of 69,470 new shares of £1 (S$2.13) each, and the joint venture is called A-Sonic Logistics (UK).

Made through one of its subsidiaries, A-Sonic stated it will “serve as an important gateway for our e-fullfilment logistics business to Europe and UK” for the corporation.

According to a filing, it positions A-Sonic Aerospace and its logistics subsidiaries, “A- Sonic Logistics”, to maintain two international city-gateways in London (UK) and Amsterdam (Europe) for the direct injection of shipments from manufacturers in Asia to end-consumers in Europe and the UK.

Additionally, it also enhances and extends the e-fullfilment hub aspect of their e-commerce enterprises, as well as the redistribution to their end-consumers in Europe and UK. A supplementary acquisition, it allows A-Sonic Logistics to replicate its existing Trans-Pacific e-fulfilment business to Europe and the UK.

Also Read: SG Dealbook: UMS invests in Malaysia’s ASF; Ezra in JV with Japan’s Chiyoda

SG Dealbook: Olam offers to repurchase bonds;DHL launches innovation centre

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.