As at Dec 31 2019, the businesses to be sold have a combined net asset value of negative $14.1 million and net tangible asset value of negative $14.7 million. Net loss incurred by these entities was around $8.5 million.
Synagie Corp’s founders have teamed up with leading China venture capitalist firm Gobi Partners to buy over the core e-commerce operations for $61.7 million.
The three Synagie founders are CEO Clement Lee Shieh-Peen, executive directors Zanetta Lee Yue and Tai Ho Yan. They will be aided by Meranti ASEAN Growth Fund, a fund managed by Gobi Partners, which has more than US$1.1 billion in assets under management.
