mergers and acquisitions (M&A)

Keppel Infrastructure Trust kept at 'buy' by DBS on successful fund raising exercise, Ixom acquisition
SINGAPORE (Apr 17): DBS Group Research is keeping its “buy” call on Keppel Infrastructure Trust (KIT) with a target price of 58 cents, following its results announcement on Monday. KIT declared an unchanged DPU of 0.93 cent for 1Q19 ended March, as well as a loss of $16.2 million compared to earnings of $7.5 million in 1Q18. Revenue saw a 98.7% surge to $318.5 million, from $160.3 ...
SPH expands UK student dorm portfolio with $237 mil acquisition
SINGAPORE (Apr 16): Singapore Press Holdings (SPH) announced that its wholly-owned subsidiaries, Straits Five, Straits Six and Straits Eight, have acquired a portfolio of Purpose-Built Student Accommodation (PBSA) assets in the UK for £133.7 million ($237.0 million). The group purchased the assets from Habitus Holdings, Privilege Holdings, Privilege Southampton Holdings and AIGGRE Europe Real ...
ThaiBev gears up to fund growth, debt level seen as manageable
SINGAPORE (Apr 15): Thai Beverage has spent the past few years on an $8 billion acquisition spree, as it expanded beyond its home market and into other Southeast Asian markets. It bought a 53.59% stake in Saigon Beer Alcohol Beverage Corp (Sabeco), Vietnam’s largest brewery company, and snapped up a 75% stake in the Grand Royal Group, Myanmar’s largest whiskey player. Besides ...
Spindex acquires 50 year leasehold land in China for $4.2 mil
SINGAPORE (Apr 11): Spindex Industries announced that its wholly-owned subsidiary, Spindex Precision Technologies (Nantong) Co has acquired a 50 year leasehold land in Nantong Jiangsu, China for about CNY 20.7 million ($4.2 million). The land has an area of approximately 53,863.87 sqm and will be used for the group’s office and factory building construction in the near future. Spindex ...
Singapore M&A continues growth despite dwindling 1Q regional activity: Mergermarket
SINGAPORE (April 3): Merger and acquisition (M&A) activity in Asia-Pacific excluding Japan nosedived over 1Q19 with just 666 deals amounting to US$119.9 billion ($162.3 billion), amid economic headwinds and a still-unresolved trade war between the US and China. This is according to the latest report by Mergermarket, which highlights that 1Q19 dealmaking was at its lowest since 1Q19 in ...
Teckwah acquires Profoto Digital Services for $13 mil
SINGAPORE (Apr 1): Teckwah Industrial Corporation announced that it is acquiring Profoto Digital Services (PDS) from two individuals – Johnny Pranata and Lock Hui Soon – for a consideration of $13.0 million. PDS is in the business of providing digital graphic prints, event set-ups, window display and project management services. Its customers are mainly in the fashion and beauty industry, ...
China slowdown to cause APAC cross-border issuance to fall in 2019: Fitch
SINGAPORE (Mar 28): The overall Asia Pacific (APAC) cross-border issuance is expected to see a moderate drop in 2019, according to a special report by Fitch Rating. This is mainly due to the slowing economic growth in China, lower capex and mergers and acquisitions (M&As), a weaker yuan, as well as lower onshore and rising offshore funding costs, which continues to weigh on cross-border ...
CSE Global rated 'buy' by UOB on strengthening grip over Aussie market
SINGAPORE (Mar 26): UOB Kay Hian continues to rate CSE Global a “buy” with a target price of 62 cents. This came on the back of the group announcing on Mar 22 that it will be acquiring a new subsidiary – RCS Telecommunications – for of A$11.64 million ($11.26 million), which represents approximately 1.64 times RCS’s NTA. The acquisition of 100% of the issued share capital of the ...
Keppel to acquire Yi Fang Tower in Shanghai for RMB 4.6 bil
SINGAPORE (Mar 26): Keppel Corporation is jointly acquiring Yi Fang Tower in Shanghai for a consideration of RMB 4.6 billion ($926 million). The Yi Fang Tower is a recently completed prime Grade A office and retail mixed-use development located in North Bund. It is made up of two 18-storey office towers and a retail podium, with a total gross lettable area of about 74,400 sqm. Eric Goh, CEO ...
Cache Logistics Trust acquires logistics warehouse and office facility in Australia for $42.6 mil
SINGAPORE (Mar 20): ARA Trust Management, the manager of Cache Logistics Trust, announced that it has acquired a warehouse and office facility located in Melbourne, Australia for a total consideration of A$44.3 million ($42.6 million), with an initial property yield of 6.8%. This acquisition was made through Cache Logistic Trust’s wholly-owned sub-trust Altonia (VIC) Trust. Located within ...