JULY 2015

FOOD & BEVERAGE

Food Ingredients

Thai meat producer BANGKOK RANCH (THA) raises USD 59 M in IPO

BANGKOK RANCH PLC a duck meat producer & distributor finalised the sale of 360 M (228 M new shares and 132 M existing shares) shares to both the general & institutional investors through IPO.
The funds will improve its debt-to-equity ratio from 1.5 times to 0.4, be used to open a new factory, expand into large markets as Indonesia / Vietnam / China & boost export in developed countries.

2 July 2015 / Deal Street Asia

FIRST PACIFIC (HKG) pulls out from takeover of COCOLAND (MYS)

FIRST PACIFIC CO LTD, a HK-listed investment holding company, aborted a USD 125 M offer proposed on May 29 to acquire COCOLAND BHD, Malaysian snacks & confectionery producer.
Prior to this offer, COCOLAND had rejected NAVIS ASIA VII MANAGEMENT CO LTD’s USD 104 M offer, Swedish PV firm EQT made a USD 85 M offer to acquire the company as well.

Est. EV/EBITDA: 10x

20 July 2015 / Reuters

MARUKYU CO LTD (JPN) repurchased 6.3% of its shares outstanding

The board of MARUKYU CO LTD, a retailer and manufacturer of prepared food, completed the repurchase of 6.3% of the company’s shares outstanding, from IZUMI CO LTD and an undisclosed seller, in a privately negotiated transaction, based on MARUKYU CO LTD’s closing stock price of USD 9.5 on 21 July 2015, the announcement date of the board’s approval. The buyback had a value of USD 17 M in cash.

EV/EBITDA: 5.7x

21 July 2015 / Thomson One


Dairy

TH TRUE MILK (VIE) to invest in a USD 2.5 B project in Moscow

TH TRUE MILK will co-invest in a USD 2.5 B cow breeding & dairy product-processing project in Moscow: the 1st phase of the project is expected to kick off next year, with a USD 500 M initial investment. Around 200,000 milk cows will be raised on an 80,000 Ha area.

8 July 2015 / Deal Street Asia


Beverage

SAN MIGUEL (PHI) seeks to raise USD 740 M in a planned preferred shares sale offer

SAN MIGUEL CORP, a Philippine listed F&B conglomerate known for its flagship SAN MIGUEL beer, seeks to raise up to USD 740 M in a planned preferred shares sale offer.
The conglomerate is moving to achieve strong investments in telecom, infrastructure, power generation & oil refinery.

14 July 2015 / Reuters

HEALTH & BEAUTY

Healthcare

PERENNIAL (SGP) enters JV with GUANGDONG BOAI MEDICAL GROUP (CHN) to acquire Chinese medical businesses

PERENNIAL HC, a wholly-owned subsidiary of PERENNIAL REAL ESTATE, will acquire a 40% stake in the JV for USD 45 M, while the remaining 60% will be held by GUANDONG BOAI MEDICAL GROUP, subsidiary of CHINA BOAI MEDICAL GROUP – a major private hospital/medical services operator in China – to acquire, develop & manage healthcare services business in China.

7 July 2015 / Deal Street Asia

Q&M DENTAL GROUP (SGP) acquires 60% stake in PANJIN DENTAL CLINIC (CHN) for SGD 1.3 M

Q&M DENTAL GROUP acquired 60% in PANJIN JINSAI DENTAL CLINIC, through its subsidiary SHENYANG XIN’AO HOSPITAL MANAGEMENT, from Dr. Zhang Chun.
Dr. Zhang will sign a 12-year full-time service agreement guaranteeing profits will not fall below SGD 2.8 M & XIN’AO will receive dividends of not less than USD 1.7 M over the 12-year period.

7 July 2015 / Deal Street Asia


Pharmaceuticals

CHUGAI PHARMACEUTICAL (JPN) to invest USD 355 M by 2021 in Singapore R&D

CHUGAI PHARMACEUTICAL, a Japanese company that operates 3 satellite labs in Singapore, Japan & South Korea, plans to accelerate its R&D capabilities in Singapore by investing USD 355 M by 2021.
The company is 60% owned by ROCHE. Reported 2014 Revenue is USD 3.9 B & Net Income is USD 425 M.

1 July / Deal Street Asia


Cosmetics

LUXOLA (SGP) acquired by LVMH-owned SEPHORA (FRA)

LUXOLA, a Singapore-based cosmetics e-commerce platform, has been acquired by LVMH following an undisclosed investment by SEPHORA (LVMH’s subsidiary) to accelerate its growth in Southeast Asia.
LUXOLA raised USD 16 M across 4 rounds of venture funding. It raised a series C round in May 2014 involving F&H FUND MANAGEMENT & QUEENSBRIDGE VENTURE PARTNERS.

9 July 2015 / Frenchweb

ENGINEERING & CLEANTECH

Engineering & Construction

SUNWAY CONSTRUCTION (MYS) rises 10% in intraday trade on market debut

SUNWAY CONSTRUCTION, the construction spin-off of SUNWAY BHD, raised USD 125 M in its IPO.
SUNWAY CONSTRUCTION has an order book of 720 M as of March 2015 mainly from the infrastructure construction sector
Business in Singapore contributes to 30% to 50% of total profits due to weakening of the Ringgit.

29 July 2015 / Deal Street Asia

PTIC(VIE) raised its stake in SONG DA YALY CEMENT JSC (VIE) to 25%

POST & TELECOMMUNICATION INVESTMENT & CONSTRUCTION JSC (PTIC) acquired a further 6.5% stake in SONG DA YALY CEMENT JSC , a housing constructor and a unit of the Vietnamese state-owned SONG DA CORP, for USD 0.1 M, in open market transactions. The shares were valued based on SDY’s closing stock price on 10 July 2015, the day when the shares were purchased.

EV/EBITDA: 7.7x

10 July 2015 / Thomson One


Water Treatment

HYFLUX (SGP) divests water assets for SGD 193 M

SPRING CHINA UTILITY, a subsidiary of HYFLUX, is planning to divest its entire equity interests in 5 wastewater treatment plants in China to a new investment holding company established by HYFLUX CAPITAL & TUSPARK TECHNOLOGY SERVICES for SGD 193 M.

1 July 2015 / Singapore Stock Market News


Renewable Energy

ATN HOLDINGS (PHI) is planning to raise USD 22 M via a preferred shares offer

ATN HOLDINGS, a Philippine-based investment holding company, is planning to raise USD 22 M via preferred shares offer to fund a 30 MW solar power plant
ATN HOLDINGS has an existing interest in ATN PHILIPPINES SOLAR ENERGY GROUP, a grantee of a 30 MW solar energy service contract by the Department of Energy.

9 July 2015 / Deal Street Asia

NEW TECH

Payment Solutions

NEAREX (SGP) raises series B with TATA CAPITAL GROWTH (IND)

Singapore-based mPOS & mPayments startup NEAREX has announced it raised a series B round led by TATA CAPITAL GROWTH. The startup has gained traction across Africa & is aiming to expand in other emerging markets.
Previous investors BEENOS ASIA & XINVESCO also participated in this undisclosed round.

8 July 2015 / Tech in Asia


Internet

FIRST MEDIA (IDN) unit to list in Q3, plans to raise USD 52 M

PT FIRST MEDIA TBK, an Indonesian pay TV operator, a unit of LIPPO GROUP, plans to sell up to 25% of its internet provider PT INTERNUX shares via IPO. INTERNUX seeks to raise USD 52 M from the IPO.
INTERNUX has a strategic cooperation with MITSUI CORPORATION & is being supported by HUAWEI.

1 July 2015 / Deal Street Asia

NUFFNANG owner NETCCENTRIC begins trading on ASX raises USD 9 M in IPO

NETCCENTRIC, a Singapore-based digital marketing firm, has started trading on ASX. The company issued 62 M shares & raised USD 9 M, exceeding its target of USD 5 M.
NETCCENTRIC is the parent company of blog advertising network NUFFNANG, mobile blogging platform DAYRE & social media advertising network CHURP CHURP.
The company reported 2014 revenue of USD 8 M and 200 employees.

Est. EV/Revenue: 4x

1 July 2015 / Channel News Asia


Mobile App / SaaS

GRABTAXI raised USD 200 M & now valued at USD 1.5 B

GRABTAXI, a Singapore-based taxi booking platform, is raising more than USD 200 M led by COATUE MANAGEMENT LLC, a US Hedge Fund specializes in technology & media investments.
The latest round values the company at over USD 1.5 B & comes within 6 months of the company raising USD 250 M.
SOFTBANK GROUP CORP & TIGER GLOBAL MANAGEMENT LLC also participated in this round.

2 July 2015 / e27.co

FOODY.VN (VIE) raises a 7-figure series B round led by GARENA VENTURES (SGP)

FOODY.VN, a Vietnamese restaurants listing & review website has raised an undisclosed 7-figure series B funding round from GARENA’s investment arm (SGP).
The startup already operates & plans to expand its restaurant table booking service “TABLE NOW” & its delivery platform “DELIVERY NOW”.
Currently only operational in Vietnam, the startup plans to expand overseas by creating new localized websites instead of creating a multi-language feature on their existing platform.

7 July 2015 / Tech in Asia


E-commence

E-commerce site Qoo10 (SGP) raised USD 82 M in series A funding led by SPH (SGP)

GIOSIS, the parent company of e-commerce platform Qoo10, raised USD 82 M in Series A funding led by SINGAPORE PRESS HOLDINGS & others including EBAY, SABAN CAPITAL GROUP, UVM 2 VENTURE INVESTMENTS, BROOKSIDE CAPITAL & OAK INVESTMENT PARTNERS.
Qoo10 operates 6 e-commerce marketplaces with 17.6 M users & Gross Merchandise Volume of USD 408 M in 2014.
The latest funding will be used to accelerate technology growth & service development, also invest in additional infrastructure & talent acquisition.

23 July 2015 / Deal Street Asia

LUXURY & LIFESTYLE

Furniture & Accessories

Vincent LEE sells down in SHH RESOURCES HOLDINGS BHD

Vincent LEE, the Malaysian advertising mogul, has ceased to be a substantial shareholder in SHH RESOURCES HOLDINGS, a furniture manufacturer. Vincent disposed 1.7 M shares & is currently left with 1 M shares (2% stake in SHH)

27 July 2015 / Deal Street Asia



Fashion

KERING could exit PUMA in 12-18 months

KERING SA, a French family-controlled listed company in apparel & accessories, owns 86% stake in PUMA SE & as the business struggles to offer sufficient sale growth & margin potential (2.6% this year vs. +10% in the past decade), an exit is possible in the next 12 to 18 months.

PUMA has a valuation of USD 2.7 B.

1 July 2015 / Business Of Fashion


Jewelry

LIONROCK CAPITAL leads in USD 600K pre-Series A funding of Mumbai-based PIPA + BELLA

PIPA+BELLA, a private label fashion jewelry online retailer offering urban Indian women well-curated collections of fashion jewelry, raised USD 600 K led by LIONROCK CAPITAL, a Singapore-based family office, & has disclosed plans for establishing a Singapore office & expanding into Southeast Asia.
PIPA+BELLA claims to have about 100,000 users every month & more than 1,500 orders daily.

30 July 2015 / VC Circle

Food Service

MAPE ADVISORY & FIRESIDE VENTURES invest in DELIGHT FOODS

Bengaluru-based DELIGHT FOODS, a one-month-old online platform that brings together iconic Indian food brands, has raised pre-launch funding of USD 160 K from MAPE ADVISORY, an investment bank, & FIRESIDE VENTURES, a venture capital firm. Stakes are undisclosed.

27 July 2015 / Deal Curry


Wine & Spirits

SUNTORY (JPN) entered into a definitive agreement to sell LOUIS ROYER Cognac Brand at EUR 110 M

SUNTORY the leading distributor of alcoholic beverages in Japan, sold LOUIS ROYER, a French company specialized in the production & sale of fine spirits products, to TERROIS DISTILLERS, a privately held fine spirit company based in France.
In 2014, SUNTORY also acquired BEAM INC. an American manufacturer of spirits, for USD 16 B.

24 July 2015 / Le Figaro