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

By: Alternatives.pe

Southeast Asia M&A Deals

Rohas Tecnic Berhad, a Malaysia-based utility infrastructure investment holding company, has disposed of its 30% stake in PHU MY VINH CORPORATION, a Vietnamese water treatment and supply company, to Korea Water Resources Corporation, a South Korean public organization specializing in water resources management, including water disaster prevention and providing clean water, for USD 19 million.

UT Group Co., Ltd., a Japanese human resources company specializing in human resources, staffing solutions, and career development, has announced the sale of its 51% stake in 

GREEN SPEED, a Vietnamese human resources company, back to its founder, Mr. Le Van Hoang, for USD 14 million.

The Issuer Company Limited, a Thailand-based firm engaged in non-lending funding, acquired a 100% stake in

BOUTIQUE PRAKHANONG 3, a Thai real estate company that operates the Summer Point project, a commercial building providing office and retail space for rent in Bangkok. The shares were acquired from Boutique PKNS Ltd. and BT PKNS Holdings Ltd. for USD 8 million.

NSL Foods Public Company Limited, a Thailand-based manufacturer and distributor of bakery products and snacks, acquires 100% of

PRO NATURAL FOODS, a Thai producer of canned food and fruits, for USD 1.6 million. The acquisition is part of NSL’s strategy to strengthen its business, increase management flexibility, and capitalize on growth opportunities.

Wise Venture Company Limited, a Thailand-based company engaged in the purchase and sale of non-residential real estate, acquires a 54.52% stake in

CL FUND MANAGEMENT, a fund management company in Thailand, from CL Venture Public Company Limited (formerly known as Masterkool International PCL) for USD 830K. 

 

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REVENUE UPDATES

TIGER RESORT LEISURE & ENTERTAINMENT, the operator of Okada Manila, an integrated resort with gaming, entertainment, and hospitality services, achieved USD 627 million in revenue for the FY ending in December 2023, a 28% year-on-year increase, with its EBIT growing by more than 5X.

Comparable Companies:

NOMURA SPECIAL INVESTMENTS SINGAPORE, a Singaporean company, operating in the wholesale trade industry under the Nomura Group, a financial services firm, reported USD 155 million in revenue for the FY ending in March 2024, growing by 33% from the previous year. However, its EBIT dropped slightly by 16%.

Comparable Companies:

 
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