Singapore Dealbook: HLH Group, Starburst Holdings

HLH Group project. visual from company website

Two Singapore listed firms have done real estate deals that will enable them to expand operations. For HLH Group, the latest property deal involves acquiring land in Cambodia, while for Starburst Holdings, it will facilitate consolidation of its operations locally

HLH Group forays into Cambodia with land deal

HLH Group Limited said it had reached a deal with Chhin Chanpor and Chan Phaly to acquire a plot of land in Cambodia for $1.77 million, on which it plans to develop public executive condominium and shop houses this year, at an estimated project development cost of $25 million.

Currently, Cambodia’s provinces capital cities have a great demand for public executive condominium that cater to young couples and young entrepreneurs.

“We plan to launch the project in 2015, with an estimated project development cost of $25 million. For a one bed room unit, estimated selling price below $30,000, for a two bed room unit, estimated selling price below $50,000 and for a three bed room estimated selling price below $70,000,” the company said.

The company said that the property it had acquired was a freehold land with total land size of approximately 9,818 square metre.

The move was part of the group’s continuous effort to look for development opportunities around the region. It will finance the deal through internal funds and bank borrowings.

In addition to property development, HLH also operates in the agriculture and building construction space.

 

Also Read: TKS targets Myanmar, Cambodia in expansion bid

Starburst secures property for Singapore expansion

 

Starburst Holdings  has said that its wholly owned subsidiary – Starburst Engineering – has reached a deal with Pah Engineering Pte Ltd to buy a property at Tuas View Circuit Singapore for S$22.4 million.

The company, that is into designing of firearms-training facilities, will fund the deal from the allocated proceeds from its initial public offering, internal funds and external borrowings.

“The size of the property allows the group to consolidate all activities at the new location, thus enhancing efficiency. With the purchase of this new premises, the group will be able to undertake more as well as larger projects simultaneously,”  Starburst said in a filing with the local bourse.

The company said it funded the initial 10 per cent of the acquisition amount – equivalent to S$.2.24 million – from its initial public offering. The company has so far used up only S$3.01 million from its IPO where it raise S$15.5 million.

Also Read: Temasek, JTC merge 4 realty cos to form S$5b urban development giant

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.