acquisitions

Datapulse announces diversification plans with intended acquisition of hotel in Seoul
SINGAPORE (Oct 4): Datapulse Technology is seeking to acquire a hotel located near the Myeongdong district in Seoul, Korea, as part of its plans to expand the company’s core business from optical disc manufacturing to include hotel and hospitality investments.   In an Oct 3 filing to the SGX, Datapulse announced having signed signed a letter of intent (LoI) for the acquisition with an ...
Thakral Corp acquires $66 mil worth of hotel & office properties in Osaka
SINGAPORE (Oct 1): Thakral Corporation says it has acquired a hotel and two office properties in Osaka, Japan, valued at JPY5.46 billion ($66 million) in total. The group’s move comes as part of its overall strategy to broaden its asset & earnings base in order to capitalise on Japan’s strong economic fundamentals and tourism boom, according to Thakral in a press release on ...
Analysts see myriad opportunities in CapitaLand's US portfolio acquisition
SINGAPORE (Sept 19): CGS-CIMB Securities and DBS Vickers Securities are maintaining their “add” and “buy” calls on CapitaLand with the respective target prices of $3.55 and $3.62. This follows news of the group’s foray into the US multifamily property segment with its recent billion-dollar acquisition, which both research houses are positive on. In a Wednesday report, CGS-CIMB ...
Indonesia billionaire family reshuffles empire on currency rout
SINGAPORE/JAKARTA (Sept 19): Southeast Asia’s billionaire Riady family is reshuffling its health-care holdings as its core property business grapples with the emerging-market rout. OUE Lippo Healthcare Ltd., a hospital operator backed by the family, agreed to buy 10.6% of Singapore-listed First REIT, according to a statement Tuesday, which confirmed an earlier Bloomberg News report. It will ...
CityDev buys Aldgate House in London for $328 mil, expects immediate accretion
SINGAPORE (Sept 14): Property developer City Developments Limited (CDL) has acquired a prime freehold Grade A commercial building, Aldgate House, in London for £183 million ($328 million). Aldgate House is strategically located in the heart of Aldgate and is bounded by Aldgate High Street, Middlesex Street and St Botolph Street. The asset is expected to provide immediately contribution to ...
Serial System to divest stake in Australian laundry business for $43 mil
SINGAPORE (Sept 12): Serial System, the distributor of electronic components and consumer products, is divesting its entire 27.34% stake in SPL Holdings (Australia) to Anchorage Bridge Street for US$31.2 million ($43 million). SPL Holdings is an Australia-based commercial laundry business whose clients include hospitality brands such as Hilton, Hyatt and Sofitel. On the other hand, the buyer ...
Plenty of room for Frasers Logistics to pursue more acquisitions, says OCBC
SINGAPORE (Sept 11): OCBC Investment Research is maintaining its “buy” call on Frasers Logistics & Industrial Trust (FLT) with a higher fair value of $1.19 compared to $1.18 previously, after incorporating the trust’s recent capital recycling transactions into its valuation model. In a report last Friday, analyst Andy Wong notes that FLT’s recently-completed property divestments at ...
HG Metal acquires majority stake in Myanmar JV, to open steel rebar facility
SINGAPORE (Aug 23): HG Metal Manufacturing’s wholly-owned subsidiary, HG Metal Investments, has acquired a majority 51.04% stake in Myanmar-based joint venture (JV) company, First Fortune International, from Fortune Peak Investments for US$95,700 ($131,147). The transaction will reduce Fortune Peak’s stake in First Fortune to 28.96%, with 20% of the remaining shares held by YNJ ...
ComfortDelGro expands Australia operations with $136.2 mil worth of acquisitions
SINGAPORE (Aug 8): Land transport operator ComfortDelGro (CDG) is acquiring privately-run family bus and coach operator FCL Holdings, two freehold depot sites and a coastal operator for a total of A$134.45 million ($136.2 million) as part of its expansion plans in Australia. In a Wednesday filing, CDG says its A$110 million acquisition of Sydney’s FCL Holdings, which runs Forest Coach Lines ...
ComfortDelGro acquires local bus operator's chartering assets for $6.5 mil
SINGAPORE (July 25): ComfortDelGro (CDG) is acquiring Ric-Tat Travel & Coach Services’ private bus chartering assets for $6.45 million through the group’s wholly-owned subsidiary, ComfortDelGro Bus. The latest deal includes Ric-Tat’s existing charter contracts, 72 buses and associated drivers. It will bring ComfortDelGro Bus’s staff strength to 374 and its fleet numbers to 370 ...