subsidiary

Adventus sells partial JV stake in Danang project for $1.5 mil upon facing 'some difficulties'

SINGAPORE (May 22): Adventus Holdings is selling back a 45% stake in ADV S3 to its former joint venture (JV) partner, Tran Hoang Anh Tuan, for US$1.1 million ($1.5 million).

ADV S3 is an investment holding company established for the development and sale of a residential project in Danang, Vietnam.

Natural Cool makes foray into F&B industry with million-dollar acquisition

SINGAPORE (Feb 19): Natural Cool Holdings, the air-conditioning and switchgear specialist, is venturing into the food and beverage (F&B) industry by acquiring the business and assets of Yummy YM and SFB Global for $0.98 million.

Yummy and SFB Global are the manufacturers, distributors and retailers of cooked-food products and beverages & confections, respectively.

The former company is 70% owned by Leong Yew Meng, who is also the sole director and shareholder of SFB Global.

Global Yellow Pages disposes 80% stake in eFusion for $1.2 mil

SINGAPORE (May 19): Directory publisher Global Yellow Pages is selling 80% of its 100% shareholding in eFusion Solutions, a provider of direct and channel marketing services, to Samara Ventures for a cash consideration of $1.2 million.

Following completion of the transaction, eFusion will cease to be a subsidiary of the group.

Samara Ventures is a Singapore-incorporated investment holding company wholly-owned by Lim Kok Eng, the founder of eFusion who also currently serves as eFusion’s CEO and director.

ST Engineering establishes subsidiary in Saudi Arabia for $3.2 mil

SINGAPORE (Feb 21): ST Electronics has set up a subsidiary, ST Electronics (Saudi Arabia) (STSA), in Riyadh, Saudi Arabia – with a paid up capital of 8.4 million Saudi Riyals ($3.2 million).

ST Electronics is the electronics arm of ST Engineering.

In a Tuesday filing, the group states that STSA will offer ST Electronics’ engineering services for mass rapid transit projects, intelligent transportation as well as advanced electronics solutions in Saudi Arabia.

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