THE ALTERNATIVE VIEW
Private Equity and M&A – Southeast Asia

By: Alternatives.pe

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Southeast Asia M&A Deals

Health Empire Corporation Public Company Limited, a Thailand-based health and medical technology company, has acquired a 51% stake in SYNATURE TECHNOLOGY, a Thai software development company, from BBV Cap Co., Ltd. for USD 2 million. The acquisition supports Health Empire’s strategy to expand its presence in the technology sector.

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TVD Holdings Public Company Limited, a Thailand-based holding company focused on media, television production, and advertising, has acquired a 100% stake in MASTER CHANNEL, a Thai holding company with interests in radio and television broadcasting, including production and other related services, from The Master One Company Limited through its subsidiary, TVD Link Company Limited. The company was acquired for over USD 1 million. The acquisition’s purpose is aimed at expanding the TVD’s presence in the broadcasting industry to enhance its footprint in the broadcasting industry and expand its service offerings in audio-visual content and information delivery.

Mr. Poonpat Luengpiriyaphan, a Thai private investor, has acquired the remaining 40% stake in

RBN RETAIL from Mediwell Company Limited for USD 578K. Mediwell’s sale of its 40% stake in RBN Retail was driven by financial pressure from forced sales by its major shareholders. Mediwell’s divestment was driven by financial pressures stemming from forced sales by its major shareholders, aimed at reducing exposure to underperforming or volatile assets in response to market uncertainties.

Tokyo Tatemono (Thailand) Ltd., a Thailand-based real estate company, acquired a 49% stake in SC L1, a Thai company engaged in real estate development. Tokyo Tatemono (Thailand) Ltd. acquired the shares from SC Asset Corporation Public Company Limited for USD 496K. SC Asset Corporation’s sale of 49% of its shares in SC L1 is part of a joint venture initiative between Tokyo Tatemono (Thailand) Ltd. and SC Asset Corporation to co-develop real estate projects.

MFEC Public Company Limited, a Thailand-based IT service provider, acquired an additional 40% stake in NERVES ENTERPRISE CLOUD SYSTEM through its subsidiary, Synergy Group Ventures Company Limited, further consolidating its position in the cloud computing and enterprise IT services sector.

 

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REVENUE UPDATES

AJINOMOTO (SINGAPORE), the Singaporean distributor of Ajinomoto products, hit USD 189 million in revenue for the FY ending in March 2024, an 1% year-on-year growth.

Comparable Companies:

EXECUTIVE ASSET MANAGEMENT, a Singaporean investment company providing traditional/long-only asset management services, achieved revenue of USD 58 million for the FY ending in March 2024, a 53% year-on-year growth.

Comparable Companies:

 
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