| PT Waskita Toll Road, a subsidiary of Indonesia’s state-owned construction firm PT Waskita Karya Tbk, has increased its portion in KRESNA KUSUMA DYANDRA MARGA, an Indonesian construction company that owns and operates the toll roads that connects Bekasi, Cawang, and Kampung Melayu with Jakarta. PT Waskita Toll Road subscribed to 2.7 million new shares for USD 174 million, increasing their shareholding by 12.37%. This portion increase is carried out through a debt-equity swap with the target company.
SBT Investment 2 Pte. Ltd., a wholly owned subsidiary of Indonesia’s PT TBS Energi Utama Tbk, has signed an agreement to acquire 100% of SEMBCORP ENVIRONMENT, a Singapore-based company that provides waste management services in the Asia Pacific region, from Sembcorp Industries for a total consideration of USD 306 million.
TIDC Holdings Company Limited, a Thailand-based investment holding company, has acquired a 51% stake in UNISON ONE, a Thai property rental company, from Rabbit Holdings Public Company Limited for USD 14.6 million, while Prime Opportunity Fund VCC has acquired the remaining 49% stake for USD 14 million.
Mr. Phadet Phuripatiphan, a Thai private investor, has acquired a 99.99% stake in MOREPROPERTY DEVELOPMENT, a real estate development company in Thailand, from More Return Public Company Limited, its parent company, for USD 9 million. This share sale was conducted primarily to raise working capital for More Return PCL to finance other various projects, as the company was unable to secure funds through a capital increase.
Sentiance, a Belgium-based road safety technology company, has acquired 100% of Bangkok-based fleet intelligence platform DRVR in an undisclosed deal. The acquisition aims to strengthen road safety efforts, particularly in Asia, and expand their global impact.
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