Private Equity and M&A – Southeast Asia
By: Alternatives.pe
PT Bangun Kosambi Sukses Tbk, a listed subsidiary of PT Pantai Indah Kapuk Dua Tbk, a real estate and property development company under the Agung Sedayu Group conglomerate in Indonesia, has acquired 99.9% of INDUSTRI PAMERAN NUSANTARA, a company specializing in venue and meetings, incentives, conferences, and exhibitions (MICE) in Indonesia. PT Bangun Kosambi Sukses Tbk acquired Industri Pameran Nusantara by injecting USD 139 million and subscribing to newly issued shares in the company. PT Industri Pameran Nusantara will use the fresh funds to finance the construction of buildings for meetings, incentives, conferences, and exhibitions (MICE). As a company engaged in venue rental and MICE organization, Industri Pameran Nusantara is projected to add value to MICE projects in the CBD PIK 2 area in North Jakarta, owned by PT Pantai Indah Kapuk Dua Tbk.
Namwiwat Medical Corporation PCL, a Thailand-based manufacturer of cleaning and sterilization systems for healthcare and labs, acquires an additional 60% stake in
INNOVATIVE IMAGING SYSTEMS, a distributor of medical imaging devices in Thailand, for USD 4 million. This investment is part of Namwiwat Medical Corporation PCL’s strategy to expand into the medical equipment market, particularly for surgical environments, and to boost revenue from upstream business.
Asia Enterprises Holding Limited, a distributor of steel products, has proposed to acquire a 28.64% stake in
GKE METAL, a Singaporean logistics company that transports non-ferrous metals in Singapore and Shanghai. Asia Enterprises Holding Limited acquired the shares from Hung Lin Holding Ltd for a total consideration of USD 5 million.
Sidi Investment Holdings Pte. Ltd., an investment holding company in Singapore, has fully acquired
PEMAC, a Singaporean precision engineering and consulting company, for a Thai company that trades in antiques such as decorations, clocks, watches, for USD 4 million.
Saha Pathana Inter-Holding Public Company Limited, a Thailand-based holding company that invests in property businesses and manages real estate projects, acquires a 5% stake in
SAHA KOMEHYO, a Thai company that trades in antiques such as decorations, clocks, watches, for USD 270K.
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PREFAB TECHNOLOGY, a Singaporean manufacturing company focusing on precast components development for construction and building components, reached USD 60 million in revenue for the FY ending in December 2023, a 105% year-on-year growth. Meanwhile, its EBIT grew to USD 6 million, over 60% growth compared to the previous year.
Comparable Companies:
- PREFABTECH MALAYSIA – Q4 2023 Revenue USD 2 million (281% growth)
- SON HOA – Q4 2023 Revenue USD 2 million (123% growth)
- MOD PREFAB – Q2 2024 Revenue USD 4 million (-48% growth)
NIKON SINGAPORE, the distributor for Nikon cameras in Singapore, reached a revenue of USD 136 million, reflecting a 21% growth compared to the previous year.
Comparable Companies:
- LEICA CAMERA SINGAPORE – Q1 2024 Revenue USD 28 million (6% growth)
- CANON SINGAPORE – Q4 2023 Revenue USD 1.7 billion (-8% growth)
- AUDIO & PHOTO DISTRIBUTOR – Q2 2024 Revenue USD 5 million (12% growth)
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