Singapore Dealbook: Samko Timber, Keppel Corporation, KLW Holdings

Visual taken from the SAmko website

Singapore-listed companies continue to expand overseas in their diversification drive. Samko Timber has forged a joint venture in Indonesia to make wooden bodies for trucks, while door-maker KLW Holdings continues its foray into realty business by acquiring a second property in Australia.

 

Samko sets up JV for building wooden bodies for trucks in Indonesia

 

Singapore based Samko Timber Limited said it has formed a joint venture with with NS Trading Co Ltd, Japan to produce and sell wooden bodies for trucks in Indonesia. The JV company called – PT Nusantara Mitra Sejahtera – will be 60 per cent owned by Singapore-listed Samko.

The initial issued and paid-up share capital of the JV Company will be $400,000 comprising 400 registered shares, each with nominal value of $1,000, and the JV will operate out of Samko’s existing factory located in Jambi, Sumatera, Indonesia.

Samko said the investment in the JV would be funded through internal resources

 

Keppel Corporation exits DPS Bristol

 

Keppel Corporation Limited has sold its 66.71 per cent stake DPS Bristol (Holdings) Limited to DPSH One Limited for approximately British Pounds (GBP) 1,081,000 in cash, of which up to GBP1,000,000 will be paid in installments over a five-year period after completion based on the total revenue generated by the DPS group of companies during the said period , the company said.

DPS is a company incorporated in the United Kingdom. “The Purchaser is a nominee of the other existing shareholders of DPS, who collectively hold the remaining 33.29 per cent of the issued and paid up capital of DPS,” Keppel Corporation added in a statement.

Keppel closed 0.2 per cent lower at $8.73 today on Tuesday.

Also Read:SG Roundup: Keppel Land, Morgan Stanley, Blackstone

 

KLW Holdings acquires second Melbourne property

 

Singapore-listed – KLW Holdings Limited, the manufacturer of doors, said it has reached a deal to buy five-storey property in Melbourne, Australia, its second property in the same city, marking the continuation of its foray into the real estate business.

“The total consideration to be paid for the property is approximately A$12.5 million (approximately S$13.3 million) and it will be funded through a combination of internal resources and debt. While currently vacant, the acquired property has a range of potential development options including refurbishing the existing office building and leasing out with an expected 5 per cent rental yield, multi-level residential apartments, student accommodation and a boutique hotel,” the company said.

The company also said that it was forming two subsidiaries for its property business – Ambertree Lincoln and Ambertree Development. Ambertree Lincoln, that will hold latest Melbourne property, is a wholly-owned subsidiary incorporated in Australia, while Ambertree Development is a wholly-owned subsidiary incorporated in Singapore, with a paid-up capital of S$1 million, and will manage the development of the group’s property projects.

The earlier property acquired in September last year for A$23.6 million (approximately S$26.1 million), is a seven-storey freehold structure located in the same city.

Also Read: Singapore firms strike realty deals in Australia

 

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.