Private Equity and M&A – Southeast Asia
By: Alternatives.pe
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PT Bank Tabungan Negara Tbk has announced plans to acquire BANK VICTORIA SYARIAH, Bank Victoria’s sharia banking unit in Indonesia. According to the prospectus published in the media, PT Bank Tabungan Negara will acquire Bank Victoria Syariah for USD 65 million. The acquisition will be funded through PT Bank Tabungan Negara Tbk’s internal resources.
Luxury expedition cruise company Ponant Explorations Group has acquired a majority stake in boutique cruise line
AQUA EXPEDITIONS, a Singapore-based luxury cruise and expedition company specializing in unique maritime travel experiences. Aqua Expeditions reported a 40% revenue growth for the FY ending in December 2023.
CHAMPSWORTH DEVELOPMENT, a Singaporean property development company, generated over USD 154 million in revenue for the FY ending in March 2024, a 355% year-on-year growth. Meanwhile, its EBIT recorded a loss of USD 1 million, a significant jump from a loss of USD 11 million in March 2023.
Comparable Companies:
- TIARA LAND – Q1 2024 Revenue USD 66 million (271% growth)
- MAPLETREE COMMERCIAL PROPERTY MANAGEMENT – Q1 2024 Revenue USD 28 million (3% growth)
- BSS DEVELOPMENT – Q1 2024 Revenue USD 159 million (19% growth)
SINGAPORE METHYL CHEMICALS, a Singapore-based manufacturer of MMA-Monomer and Polymethyl Methacrylate resin, achieved revenue of USD 203 million, reflecting a 30% decline compared to the previous year.
Comparable Companies:
- DP CHEMICALS – Q1 2024 Revenue USD 56 million (-16% growth)
- PURE CHEMICALS – Q1 2024 Revenue USD 31 million (-30% growth)
- REDOX CHEMICALS – Q2 2024 Revenue USD 4 million (-36% growth)
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