joint venture (JV)

United Global forms Australia JV; welcomes new institutional investor

SINGAPORE (Mar 29): United Global says its wholly-owned subsidiary, United Oil, has agreed to incorporate a joint venture (JV) company in Australia with PFR Management and DP United to import and distribute lubricant products manufactured by United Oil in

Aviation & Engineering

SIA-Lufthansa JV brings back return flights to Munich

SINGAPORE (Mar 29): Lufthansa will fly five times a week between Munich and Singapore, five years after the flights were cancelled.

M&A

Wilmar acquires remaining 50% stake in investment holding company from Olam for $195 mil

SINGAPORE (Mar 21): Wilmar International announced that its direct wholly-owned subsidiary, Wilmar Resources, has acquired a 50% equity interest in Nauvu Investments from Olam International for US$148 million ($194.9 million).

Broker's Calls

Take profit on BreadTalk before rising capex & start-up costs set in, advises RHB

SINGAPORE (Mar 19): RHB advises investors to sell BreadTalk and take profit given its current share price is approaching the target of $2.

Acromec diversifies into renewable energy sector; expands into Indonesia

SINGAPORE (Mar 14): Acromec has incorporated two companies to diversify into a new sector and a new country.

Broker's Calls

Maybank keeps Jumbo at 'buy' following JV to bring Tsui Wah brand to Singapore

SINGAPORE (Mar 12): Maybank Kim Eng is maintaining its “buy” call on Jumbo Group with a target price of 70 cents.

BreadTalk partners Wu Pao Chun Bakery to expand into 4 major China cities

SINGAPORE (Mar 12): BreadTalk announced that its wholly-owned subsidiary, Shanghai Star Food F&B Management has entered into a joint venture agreement with Taiwanese bakery brand, Wu Pao Chun Food (WPC), to operate the Wu Pao Chun brand of bakeries in Bei

Jumbo in JV to bring HK-style 'cha chaan teng' to Singapore

SINGAPORE (Mar 9): Jumbo Group is partnering Kang Wang Holdings to start and operate the Tsui Wah brand of "cha chaan tengs" in Singapore.

M&A

CityDev and partner sign JV to acquire Sumang Walk land for $509 mil and build EC after winning bid

SINGAPORE (Mar 8): City Developments (CDL) says subsidiary CDL Constellation will now enter into a JV agreement TID Residential (TIDR).

Sembcorp exits JV with Takamul Investment; sells entire stake for $3.3 mil

SINGAPORE (Mar 5): Sembcorp Industries announced that its wholly-owned subsidiary, Sembcorp Utilities (Oman), will be exiting its joint venture (JV) with its partner Takamul Investment, a subsidiary of Oman Oil Company. 
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