HC Surgical expands GP headcount by acquiring 25% stake in The Ming Clinic operator

SINGAPORE (May 31): HC Surgical Specialists, the Catalist-listed medical services provider, is acquiring a 25% stake in Medistar Services for $480,000 from three general practitioners (GPs), namely: Tan Hooi Wa, Roger Pang Heng Mun and Wong Yik Mun.

HC Surgical’s own GP, Lai Junxu, is also acquiring an additional 5% of share capital in Medistar.

Medistar operates a GP clinic, The Ming Clinic, at Camden Medical Centre.

Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal

SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties.

Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) of 419,981 sq ft with 1,456 parking spaces.

Keppel asset management unit acquires 3 commercial buildings in Seoul for $510 mil

SINGAPORE (April 29): Keppel Capital Holdings, the asset management arm of Keppel Corporation Limited, says its Alpha Asia Macro Trends Fund III (AAMTF III) is acquiring 100% stakes in three Grade ‘A’ freehold commercial buildings in Seoul, Korea, for a total of KRW 430 billion ($510 million).

The portfolio of three commercial buildings comprises Yeouido Finance Tower at the Yeouido business district, Nonhyun Building at the Gangnam business district, and Naeja Building at the Gwanghwamun central business district.

Global Invacom cancels $280 mil acquisition of Tactilis due to 'difficulties' meeting agreement terms

SINGAPORE (April 22): Global Invacom, has cancelled its proposed US$200 million ($280 million) acquisition of Tactilis due to “difficulties in fulfilling all of the conditions precedent” in the sale purchase agreement (SPA) it signed with the vendor last year.

With the termination also comes the cessation of 5% coupon-rate convertible notes meant to be issued by Tactilus.

United Industrial Corp raises stake in Marina Centre to 77.34% with $675.3 million deal

SINGAPORE (April 13): United Industrial Corporation (UIC), a subsidiary of UOL Group, is acquiring a further 24.27% stake in its 53.07%-owned indirect subsidiary Marina Centre Private Holdings (MCH) for $485.3 million to be paid in cash.

10%, 10.27% and 4% of the sale shares will be purchased from vendors OUE Limited, Finnegan Investments Limited, and Mackmoor Pte Ltd for $200 million, $205.3 million and $80 million, respectively.

Singapore Myanmar Investco's sale of TPR Myanmar crumbles over unmet terms

SINGAPORE (April 8): Singapore Myanmar Invesco’s (SMI) intended sale of its telecommunication infrastructure subsidiary, TPR Myanmar, to Tiger Infrastructure for US$10.8 million ($14.4 million) has fallen through after the latter failed to fulfil terms of the sale share agreement (SSA) .

Grab sets sights on US$6.5 bil capital mark

SINGAPORE (April 8): Grab Holdings is expecting to rake in further US$2 billion ($2.71 billion) in funding to bring its total capital raised this year to US$6.5 billion, following its Series H round which saw SoftBank and other key strategic investors invest over US$4.5 billion in the ride-hailing app.

Last month, Grab secured a US$1.46 billion investment from SoftBank Vision Fund. Both Grab and the Japanese conglomerate have been working together since 2014.

MindChamps acquires 8 more Sydney preschool centres for $39.3 mil

SINGAPORE (Apr 8): MindChamps Preschool Limited is acquiring eight more early learning centres in Sydney, Australia, for a total of A$40.84 million ($39.3 million) from Malek Family Pte Ltd and Malek Group Investments Pty Ltd.

The centres are located across six suburbs of the city, namely: Mascot, Parramatta, Albion Park, West Hoxton, Kemps Creek and Shellharbour.

MindChamps acquires Punggol Northshore centre for $3.8 mil

SINGAPORE (Mar 22): MindChamps PreSchool’s Singapore subsidiary is fully acquiring MindChamps PreSchool @ Punggol Northshore from the centre’s owner, known as Chen Han, for a total consideration of $3.79 million.

In a filing on Friday, MindChamps PreSchool says the latest acquisition comes in line with its plans to expand its business.

The transaction will be funded with a combination of cash from its initial public offering (IPO) proceeds as well as an acquisition loan.

Oceanus buys majority stake in media & marketing agency for $0.4 mil

SINGAPORE (Mar 20): Seafood supply chain manager Oceanus Group’s subsidiary, Oceanus Investment Holdings, has acquired a majority 51% stake in AP Media for $0.4 million from sole owner and director Tan Guan Cheong.

This leaves Tan with a remaining 49% interest in AP Media.  

Previously known as Digimatic Creative, AP Media is a media and marketing solutions agency specialising in video and content marketing as well as interactive media.

Its subsidiary Capy Comm is an integrated marketing business solutions consultancy incorporated in Feb 2018.

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