Singapore: MSPL seals Technicae buy; Backstreet Academy grant; Trendlines’ new venture

Singapore. Photo: Bloomberg

MSPL has fully acquired its subsidiary Technicae, Backstreet Academy secured a $450,000 grant from Booking.com and Trendlines Group has launched a new company focused on crop protection.

MSPL fully acquires Technicae

Mobility Systems (MSPL), a subsidiary of ST Engineering’s land systems arm ST Kinetics, is to acquire the remaining 5.64 per cent equity interest in Technicae Projetos e Serviços Automotivos (Technicae). Completion of the deal will see ST Kinetics’ subsidiaries MSPL and SDGK own the entire issued share capital of Technicae.

The purchase consideration for the remaining stake in the Brazil-based automotive maintenance, repair and overhaul (MRO) services provider is BRL 750,000 (S$339,000) and will be funded by a capital injection by ST Kinetics.

To satisfy Brazilian laws that require corporations have at least two shareholders, MSPL will transfer one share in Technicae to ST Kinetics subsidiary, SDG Kinetics (SDGK), for BRL 1.

The proposed acquisition and share transfers are subject to regulatory approvals.

Notable contracts secured by Technicae include Cascavel armoured vehicle revitalization services and the upgrading of the Urutu 6×6 Armoured Personnel Carriers for the Brazilian Army.

Backstreet Academy secures $450k grant

Singapore startup Backstreet Academy has secured the first prize, a US$450,000 grant, following its completion of Booking.com’s accelerator programme.

Booking.com Booster is a three-week workshop and mentorship programme that supports startup ventures with potential to grow in the sustainable tourism space.

Backstreet Academy lets users book unique activities hosted by locals, with the aim of connecting locals to the tourism industry. These activities can involve fishing with Indonesian fishermen or a street food tour in Hanoi.

Headquartered in Amsterdam, Booking.com is a global travel aggregator and is part of NASDAQ-listed Priceline Group. It launched Booking.com Booster earlier this year as part of a corporate social responsibility program called Booking.com Cares.

Trendlines Group to launch new company researching crop protection

Israeli innovation commercialisation firm Trendlines Group, which is listed on the SGX Catalist, has announced that its Bayer Trendlines Ag Innovation Fund will be establishing a new company, ABI-Ag, to conduct specific research in the field of crop protection.

The fund was set up in 2016 between Bayer and Trendlines, with Bayer contributing $10 million to the fund.

The aim of ABI-Ag’s research is to discover and develop a novel and environmentally-friendly pest management platform for crop protection arena; its agenda is developing innovative chemical and biological crop protection solutions,

Trendlines chairman and CEO Steve Rhodes said, “Trendlines’ mission is to create and develop companies to improve the human condition. There is no better way to do that than to find solutions to help feed a hungry world. Investing, supporting and developing companies like IBI-Ag Ltd. is at the heart of what we do. Bayer shares our commitment to supporting and developing technologies to help shape the future of farming.”

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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.