Spackman acquires 10% of Korean dessert cafe chain

Spackman acquires 10% of Korean dessert cafe chain

By: 
Samantha Chiew
19/09/17, 05:20 pm

SINGAPORE (Sept 19): Spackman Entertainment Group, the Korean entertainment production group, has acquired a 10% stake in NSY Group for $137,755 in cash.

NSY Group owns the Korean dessert café chain Nunsongyee which is known for its modern take on the traditional Korean icy dessert, bingsu.

The group has seven branches in Singapore and is currently exploring overseas expansions to countries such as Malaysia, Australia and New Zealand.

Charles Spackman, executive chairman and CEO of Spackman, says, “With this investment into Nunsongyee as a start, we will continue to seek investment opportunities in local Singapore brands in which we can leverage our presence in Korean entertainment to create additional value.”

“We plan to collaborate in various ways with Nunsongyee in Singapore, especially by associating its growing brand with certain celebrities represented by our associated company, Spackman Media Group,” adds Spackman.

Shares in Spackman closed at 12 cents on Tuesday.

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million). The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry. The acquisition will be made in cash, and comes without mortgage or security interests. AusGroup’s unit, NT Port and Marine, on Monday signed a gen....
Read More >>

Defensive utility stocks could ride infrastructure boom

SINGAPORE (Feb 18): Utility companies, which are usually deemed to be boring defensive stocks, could turn out to be sexy growth counters. This is because the growing demand for better infrastructure and amenities on the back of the population growth and rising affluence in Asia-Pacific is leading to the implementation of new utility projects in the region. “Because of their strategic significance, utility services have traditionally been provided by the public sector. However, ballooning population growth and fiscal constraints have resulted in more of the world’s utility services to sp....
Read More >>

Space tech start-up Transcelestial lasers in on high-speed connectivity

SINGAPORE (Feb 18): A few months ago, inside a second-storey shophouse in Chinatown, Rohit Jha and his team fired up a PlayStation 4 set. ­Using its controllers, he virtually navigated a small toy car, manoeuvring through a track on a remote rooftop of one of the buildings in Chinatown. The tiny vehicle was monitored by a couple of cameras and linked wirelessly to the team’s office a few blocks away. Jha, CEO and co-founder of space tech start-up Transcelestial, says he often demonstrates the capabilities of the company’s product through the PlayStation setup. The effort has paid off. ....
Read More >>