acquisitions

SINGAPORE (Aug 8): Land transport operator ComfortDelGro (CDG) is acquiring privately-run family bus and coach operator FCL Holdings, two freehold depot sites and a coastal operator for a total of A$134.45 million ($136.2 million) as part of its expansion

SINGAPORE (July 25): ComfortDelGro (CDG) is acquiring Ric-Tat Travel & Coach Services’ private bus chartering assets for $6.45 million through the group’s wholly-owned subsidiary, ComfortDelGro Bus.

SINGAPORE (June 27): Construction group Lian Beng has acquired a 60% interest of United Tec Construction (UTC) from the company’s sole shareholder, Chew Hock Seng, for a purchase consideration of $0.18 million.

SINGAPORE (June 21): Compact Metal Industries is seeking to acquire a 51% interest in a partially completed cement plant in Salamanga, Bela Vista, Maputo Province, Mozambique for US$30 million ($40.8 million), subject to shareholder approval at the EGM. 

SINGAPORE (June 21): Singapore Myanmar Investco (SMI) says its joint venture partner Golden Infrastructure Group (GIG) has officially initiated legal action against the group’s sale of TPR Myanmar.

SINGAPORE (May 30): DBS Vickers Securities is reiterating its “buy” call on mm2 Asia, but with a lower target price of 70 cents compared to 75 cents previously after implementing a downward valuation PEG adjustment for the group, in line with peers.

SINGAPORE (May 30): Memories Group, the tourism-focused company based in Myanmar, is acquiring a boutique hotel in Loikaw, Kayah State, Myanmar, for US$2.9 million ($3.9 million) from the Wa Minn Group of Companies and U Kun Naung Myint Wai.

SINGAPORE (May 21): Chip Eng Seng (CES) is planning to acquire up to 75% in Pennsylvania-based American Scholar Group (ASG) for US$1.5 million ($2 million).  

SINGAPORE (May 2): Tai Sin Electric says its wholly-owned subsidiary, Cast Laboratories, on Apr 30 acquired 30% of Astar Laboratory for $0.9 million from two of the lab’s vendors, with the option to purchase an additional 40% of the business.

SINGAPORE (Apr 27): OCBC and CIMB are reiterating their “buy” and “add” recommendations on Mapletree Greater China Commercial Trust (MGCCT) with a fair value and target price of $1.42 and $1.30, respectively.