business diversification

HRnetGroup's business diversification amid economic uncertainty keeps it at 'add'

SINGAPORE (June 14): CGS-CIMB Research is keeping HRnetGroup at “add” but with a lower target price of $1.01 compared to $1.03 previously.

This came on the back of a survey released by ManpowerGroup, which showed that the net employment outlook for 3Q19 is relative stable, and expects a 12% growth for the next quarter, a 1 percentage point (pp) increase from the last quarter, but unchanged from the same period last year.

Chew's Group seeking approval for name change and business diversification

SINGAPORE (Jan 9): Chew’s Group on Tuesday will hold an extraordinary general meeting (EGM) to propose a company name change to OneApex, diversification of its business and adoption of the IPT (interested personal trasanctions) general mandate.

Following its disposal of Chew’s Agriculture, Chew’s Engineering Services, Chew’s Group Investment and Chew’s Group Marketing on Apr 20 2018, Chew’s Group has ceased its business of producing and selling generic and designer eggs, liquid eggs, trading of spent grains and food processing in Singapore.

Datapulse to acquire Seoul hotel for $42.7 mil

SINGAPORE (Dec 17): Datapulse Technology announced that it is acquiring Hotel Aropa, a hotel located in Seoul, Korea, from Hotel Prima Co for a consideration of KRW 35 billion ($42.7 million).

See: Datapulse announces diversification plans with intended acquisition of hotel in Seoul

China Kunda diversifies business to include manufacture and distribution of furniture

SINGAPORE (June 25): China Kunda says that it will be diversifying its business to include manufacturing and distributing furniture.

This came on the back the group closing its automobile component parts production facility in Beijing.

The group says that it will continue to strengthen its principal business operations of the manufacture and sale of in-mould decoration and other plastic components, while this diversification will present it with a potentially new revenue stream that can enhance its financial position in the long term.

Allied Technologies buys 51% stake in Asia Box Office for $30 mil

SINGAPORE (Apr 3): Allied Technologies has entered into a sale and purchase agreement with Platform Internet Capital to purchase a 51% stake in Asia Box Office for $30 million.

This followed the January signing of a binding memorandum of understanding (MOU) between Allied Technologies and Platform Internet Capital on the acquisition.

See: Allied Technologies to acquire 51% stake in Asia Box Office

Acromec diversifies into renewable energy sector; expands into Indonesia

SINGAPORE (Mar 14): Acromec has incorporated two companies to diversify into a new sector and a new country.

Acromec will set up Acropower, an 80-20 joint venture (JV) company with Malaysia-based Green Energy Resources, allowing the group to tap on its core expertise and experience to provide sustainable energy solutions to the renewable energy sector.

Allied Technologies to acquire 51% stake in Asia Box Office

SINGAPORE (Jan 24): Allied Technologies has entered into a binding memorandum of understanding (MOU) with Platform Internet Capital to acquire a 51% stake in Asia Box Office.

Asia Box Office operates an e-commerce ticketing solutions platform for venues and organisers that focuses on sports, entertainment and lifestyle events in Southeast Asia and Greater China.

It is the promoter and ticketing partner of Cirque Du Soleil’s Big Top touring show “Kooza” in Hong Kong between April and June 2018.

Delong Holdings to diversify into investment business

SINGAPORE (Aug 23): Delong Holdings said on Tuesday that it plans to diversify from its core business of manufacturing and selling hot-rolled steel coils into investments that are not limited by any business sector, geographical market or investment vehicle.

The group said in a filing that its existing business remains challenging due to excess production capabilities in the market, which have led to fewer business opportunities and lower investment efficiency in the steel industry.

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