The Singapore Business Review provides daily news about the Singaporean business landscape, supplies opinions on happenings in the business world and allows audiences to have an insight on the views of industry experts.
Novena Global Lifecare now has access to Xingkeduo’s AI-based platform and physical network of nearly 100 stores.
Novena Global Lifecare completed its $475.4m merger with Xingkeduo, a Chinese express haircut business with nearly 100 stores in China.
The merger will see an accelerated expansion of Xingkeduo and Novena’s NOVU Aesthetics brand in China. Plans for the creation of a one-of-a-kind hybrid store format offering complementary medtech-based aesthetic and hairdressing solutions driven by Artificial Intelligence (AI) are reportedly underway.
There will be an approximate 10% of the total pro-forma share capital of YKA if the CSRC gives it the green light.
Wilmar International is set to take the next step of its proposed initial public offering (IPO) in China after the China Securities Regulatory Commission (CSRC) accepted its Yihai Kerry Arawana Holdings Co.’s (YKA) application for its proposed listing on the Shenzhen Stock Exchange.
And check out which agritech startups are getting the most funding.
Singapore has cautioned wealth managers against aggressively marketing their services or making other efforts to woo clients to the city state by capitalising on rival Hong Kong’s political turmoil, people with knowledge of the matter said.
Officials from the Monetary Authority of Singapore (MAS) made the request last month to wealth managers, including DBS (DBSM.SI) and a unit of Oversea-Chinese Banking Corp (OCBC.SI).
Only US$12.3b was invested into these regions, the lowest activity level since 2014.
Chinese companies invested only $16.7b (US$12.3b) into Europe and North America in
the first half of the year, representing the lowest level since 2014, according to data from Baker McKenzie in partnership with Rhodium Group.
In a breakdown, investments into Europe fell by 26% YoY to $12.22b (US$9b), the lowest since 2016. However, investments into North America rose 19% to $4.48b (US$3.3b), driven by capital injections into the USA.
It will develop around 2,400 premium apartments with local developer Phu Long Real Estate Corporation.
Keppel Land, through its wholly-owned subsidiary Monestine, has entered into a conditional share purchase agreement with established Vietnamese developer, Phu Long Real Estate Corporation (Phu Long), to acquire a 60% interest in three land parcels in Ho Chi Minh City, Vietnam for $76m (VND1.3b), an announcement revealed.
It will use the proceeds to for its planned expansion into Asia and Africa.
Singapore-based parenting community and content platform theAsianparent raised an eight-figure amount in an oversubscribed Series C funding round led by Fosun Group, a family-focused MNC, and joined by retailer JD.com, Inc., ATM Capital, Redbadge Pacific, with participation from existing investors Global Grand Leisure and WHG Holdings.
They will be issued under its US$15b global medium term note programme.
United Overseas Bank (UOB) is set to issue $750m in perpetual capital securities, at a fixed distribution rate of 3.58% per annum, first callable in 2026, a filing with the Singapore Exchange (SGX) revealed.
Offerors and concert parties must abstain from voting on the delisting resolution.
The Singapore Exchange Regulation (SGX RegCo) will now require exit offers in conjunction with voluntary delistings, enabling shareholder votes to exclude offerors and concert parties, an announcement revealed.
The changes to two aspects of the voluntary delisting rules, which kick into effect immediately after consultations with market participants and the public.