Tuesday, 8 January 2019

PLATINUM EQUITY TO ACQUIRE SINGAPORE-BASED PCI LIMITED

LOS ANGELES, Jan 8 (Bernama-GLOBE NEWSWIRE) -- Platinum Equity announced today that Pagani Holding III Limited ("Offeror"), an indirectly wholly-owned subsidiary of investment funds and entities affiliated with and advised by Platinum Equity, has signed a definitive agreement to acquire PCI Limited (“PCI”), a Singapore-listed electronics manufacturing services provider, for S$1.33 in cash per share. The transaction is subject to shareholder and regulatory approval and is expected to close in 2Q 2019.

PCI provides design, manufacturing, testing, and supply chain services to an expanding global customer base. The business serves diverse end-markets, including the automotive, industrial equipment, commercial, consumer/lifestyle, and medical segments.

“PCI has been delivering manufacturing solutions to blue-chip customers for more than 40 years,” said Platinum Equity Partner Jacob Kotzubei. “The company has a clear understanding of its customers’ technology and supply chain needs, and represents a strong platform for continued growth.”

PCI CEO Teo Eng Lin said the take-private transaction is the right move for the company and its stakeholders.

“We built this business on a commitment to helping our customers improve their time to market at the right price and performance points, with the highest possible quality standards,” said Mr. Teo. “Platinum Equity believes in that mission and will provide the financial and operational resources we need to further expand and improve our business. This is exciting news for our company and our customers.”

Platinum Equity’s Singapore-based investment team has been actively pursuing new investment opportunities in the region. The proposed transaction marks the second privatization from the Singapore Stock Exchange announced by the team in the last 18 months.

PCI will join other Asia-based companies in Platinum Equity’s portfolio, including: Broadway Systems and Technology, a Chinese manufacturer of protective packaging solutions, insulation and component products; Ying Shing Enterprises, a fully integrated manufacturing solutions provider for plastic injection molded and metal stamping components that was merged with Fischer Tech Limited in November 2017; and Compart Systems, a manufacturer of precision-engineered metal components.

“PCI delivers high-quality end-to-end manufacturing supply chain solutions that create competitive advantages for technology companies around the world,” said Soo Jin Goh, principal at Platinum Equity and head of the firm’s Singapore-based investment team. “We are committed to helping the company grow both organically and through additional add-on acquisitions.”

Scheme of Arrangement and Joint Announcement

The proposed acquisition of PCI by the Offeror will be effected by way of a scheme of arrangement under the Singapore Companies Act (the "Scheme") and in accordance with the Singapore Code on Takeovers and Mergers.

This press release should be read in conjunction with the full text of the joint announcement in relation to the Scheme issued by the Offeror and PCI dated 4 January 2019 (the "Announcement"), which provides further details on the terms, conditions and financial evaluation of the Scheme.

A copy of the Announcement is available on www.sgx.com.

Advisers

DBS Bank Ltd. is acting as sole financial adviser to the Offeror. Duane Morris & Selvam LLP and Latham & Watkins LLP are acting as legal advisers to the Offeror.

About Platinum Equity

Founded in 1995 by Tom GoresPlatinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

Responsibility Statements

The directors of the Offeror (including any who may have delegated detailed supervision of the preparation of this press release) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this press release (excluding information relating to PCI or any opinion expressed by PCI) are fair and accurate and that, where appropriate, no material facts in relation thereto have been omitted from this press release, and the directors of the Offeror jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from PCI, the sole responsibility of the directors of the Offeror has been to ensure that, through reasonable enquiries, such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this press release. The directors of the Offeror do not accept any responsibility for any information relating to or any opinion expressed by PCI.

Forward-looking Statements

All statements other than statements of historical facts included in this press release are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as “seek”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “plan”, “strategy”, “forecast” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” and “might”. These statements reflect the Offeror’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information.

Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results may differ materially from those described in such forward-looking statements. Shareholders and investors of the Offeror should not place undue reliance on such forward-looking statements, and the Offeror does not undertake any obligation to update publicly or revise any forward-looking statements.

Dan Whelan, Platinum Equity
(310) 282-9202
dwhelan@platinumequity.com
 
Source: Platinum Equity

--BERNAMA

Fusionex event a prelude to better China-Malaysia links

KUALA LUMPUR, Jan 8 (Bernama) – Technology company Fusionex International hosted the China Entrepreneur Club (CEC) at its Petaling Jaya office, paving the way for stronger relationships and collaborative opportunities between Malaysia and China.
Fusionex, in a statement, said the company welcomed the Chinese delegation led by its president and former China Merchants Bank President, Ma Weihua, and that Fusionex is the sole technology company in Malaysia to host CEC’s visit.
In China, CEC is the premier platform for business leaders and whose chairman is Jack Ma, Executive Chairman of Alibaba Group.
The event saw speeches delivered by Weihua as well as Fusionex Founder and Group Chief Executive Officer Datuk Seri Ivan Teh.
Among the topics discussed at the event was how Malaysian and Chinese enterprises may work together to improve and increase bilateral investments.
In addition, numerous sectors were identified where closer ties could be formed, such as cultural exchanges, bilateral trade, travel and tourism, technology, and exchange programmes.
During the visit, the delegation was also presented with an overview of Fusionex and Malaysia, highlighting how Fusionex could help render its offerings and technology to help Chinese businesses.
Teh said they look forward to future collaborative opportunities with the CEC and believe that China and Malaysia can strongly benefit from the strategic application of technology.
Meanwhile, Weihua added companies should begin adopting Artificial Intelligence, Machine Learning and Big Data Analytics to create smarter ecosystems to not only remain competitive but thrive in the future.
Founded by 31 of China’s most prominent magnates, economists and diplomats, the CEC is also a hub for Chinese entrepreneurial exchange, cooperation and international collaboration.
Fusionex is an established multi-award winning data technology provider specialising in Analytics, Big Data, the Internet of Things, Machine Learning and Artificial Intelligence.
-- BERNAMA

Monday, 7 January 2019

SEIKO DREAM SQUARE -- INTERACTIVE HUB OF SEIKO'S WATCHMAKING WORLD -- OPENS IN TOKYO

AsiaNet ​76944

TOKYO, Jan. 7, 2019 /Kyodo JBN-AsiaNet/ --


Seiko Watch Corporation is proud to announce the opening of Seiko Dream Square, a new four-story retail complex in the heart of its birthplace in Tokyo's Ginza district. Seiko Dream Square allows visitors to "look, feel and experience" the rich history and heritage of Seiko's watchmaking since 1881 through its museum, showrooms and entertainment functions. Welcoming with the spirit of "Omotenashi," a Japanese term meaning the best possible service and hospitality, Seiko Dream Square is a point of destination for visitors of all ages and a center for communicating the brand's story globally -- from Ginza to the world.

(Photos: https://kyodonewsprwire.jp/release/201812251792?p=images)
Video: https://kyodonewsprwire.jp/attach/201812251792-O1-n846Hi7t.mp4

A small museum on the first floor is in the image of the symbolic Wako clock tower's interior. The tower is a historic symbol of Seiko and a proud landmark of Ginza in which Seiko founder Kintaro Hattori placed its headquarters. On higher levels, visitors can enjoy a shopping experience in the world of Seiko's leading collections, Prospex, Presage, Lukia, and Astron, with each displayed in a refined setting based on its unique identity.

Ginza is a district of Tokyo known for its high-class and upscale glamor, and has marked itself as a high-end commercial and business center. Seiko Dream Square is located in the center of the district, serving as a crossroad for both national and international visitors.

At an inauguration ceremony on December 19, 2018, Seiko Watch Corporation Chairman and CEO Shinji Hattori commented, "A Seiko watch is not merely an industrial product. It can be a partner to one's life journey and story. It is our dream that Seiko Dream Square be the place where visitors from around the world would want to find this particular partner."

With Seiko Dream Square, there are four Seiko establishments in the Ginza area: Wako and the Seiko Premium Boutique Ginza for high-end luxury watches (on the crossing of the 4th street and 7th street, respectively), and the Seiko Boutique (on the 5th floor of the GINZA SIX complex) for various global collections.

Seiko Dream Square
Address: 4-4-10 Ginza, Chuo-ku, Tokyo 104-0061
Opening hours: 10:30-19:00 Monday-Sunday
Languages: Japanese, English, Chinese (Mandarin)
Website: https://dreamsquare.seikowatches.com

Source: Seiko Watch Corporation

--BERNAMA

Friday, 4 January 2019

​NOVA BUILDINGS ACQUIRES KEY ASSETS OF BLUESCOPE'S ASEAN PRE-ENGINEERED BUILDINGS BUSINESS IN VIETNAM

Seasoned and Experienced Management Leads Sales and Development of Pre-engineered Steel Building Solutions Across Southeast Asia and the Pacific

SINGAPORE, Jan 3 (Bernama-BUSINESS WIRE) -- Nova Buildings Group has finalized the acquisition of BlueScope Buildings’ key fabrication assets at Bien Hoa City in Dong Nai Province, Vietnam. This fabrication plant situated about 30 kilometres from Ho Chi Minh City is scheduled to commence operation in the new year, led by key operational team members who formerly managed facilities under BlueScope Buildings. The plant will serve as Nova Buildings’ key manufacturing hub for supply of pre-engineered buildings across southeast Asia.

Nova Buildings is founded by a group of seasoned and experienced management previously from BlueScope, providing steel, building products, pre-engineered buildings and multinational construction services in this region. “Nova Buildings’ management collectively has worked with multinationals and large domestic clients in design, engineering, and completion of thousands of pre-engineered buildings in logistics and distribution, retail hypermarkets, agriculture, food and beverage, and aviation facilities in southeast Asia. We will continue to provide support to clients looking to further invest and expand in this fast growing region”, said Mr. Cheong Ku Wei, CEO of Nova Buildings Group.

Nova Buildings is headquartered in Singapore, with local business entities incorporated in Indonesia, Malaysia, Thailand and Vietnam. These entities with experienced in-market sales and engineering team will work closely with clients to provide competitive and functional pre-engineered buildings integrated with a broad range of quality building products and systems sourced locally with strong domestic aftersales support.

The business is backed by a private equity investment structure comprising major investors from within the construction industry of this region. The investment is led by Singapore-based investment firm Fintonia Group. “Nova Buildings is supported by several prominent companies in the construction industry. This certainly is an affirmation of the founding management team, and the synergy with our investors in regional market expansion in a high growth construction industry in southeast Asia”, said Mr. Cheong, CEO of Nova Buildings Group.

As of today, the business is fully functional and operating in the five countries. For more information on the business and office locations, please visit our website at www.novabuildingsasia.com.

View source version on businesswire.com: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=51916731&lang=en

Contact
Nova Buildings – Singapore HQ
Margaret Cheng
Margaret.re1.Cheng@novabuildingsasia.com

Source : Nova Buildings Group

--BERNAMA

BRANDSAFWAY ANNOUNCES ACQUISITION OF LYNDON SCAFFOLDING PLC

Lyndon Scaffolding to combine with SGB to become Lyndon SGB by BrandSafway
 
Kennesaw, Georgia, USA, Jan 4 (Bernama-GLOBE NEWSWIRE) -- KENNESAW, GA – JANUARY 4, 2019 – Brand Industrial Services, known as BrandSafway, has acquired Lyndon Scaffolding, along with Taylor’s Hoists (acquired by Lyndon in 2017), effective December 31, 2018. Moving forward, Lyndon Scaffolding will be combined with SGB, a BrandSafway scaffolding and access unit of Brand Energy & Infrastructure Services UK Ltd., to become Lyndon SGB by BrandSafway.

“This is an exciting combination,” said Dave Witsken, president of Energy and Industrial for BrandSafway. “It allows us to bring together a full range of scaffolding solutions — plus deliver excellence in a suite of other access technologies for our customers. By combining the assets, expertise and reputation of Lyndon Scaffolding with SGB, we will be able to expand our service solutions in key major cities in the U.K., broaden our overall footprint and accelerate our growth.”

With locations in London, Birmingham and Manchester, Edinburgh, Scotland, and Barry, Wales, along with Taylor’s Hoists in Duxford, England, Lyndon Scaffolding provides comprehensive access solutions for the commercial construction, industrial and infrastructure markets in the U.K.

“We look forward to being on the same team with SGB,” said Robert Lynch, CEO of Lyndon Scaffolding. “SGB is one of our industry’s best-known and well-respected names. By working together and sharing our expertise and best practices, Lyndon SGB will be able to offer customers more products and services and improved solutions.”

Established in 1968, Lyndon Scaffolding has sales of approximately £50 million and more than 600 employees. Lyndon Scaffolding has worked on some the U.K.’s largest and most impressive projects, and its portfolio includes Jubilee Bridge at Runcorn, BBC Broadcasting House, Tate Britain, Severn Bridge, Birmingham Gateway Station, Millennium Stadium in Cardiff, and the Scottish Parliament Building.

Dating back to 1919, SGB has focused on both commercial and industrial scaffolding services, training, and mechanical and powered access equipment. SGB is committed to helping its customers overcome the challenges associated with any project — from unprecedented innovations in building design and increased demands for environmental protection, to the ongoing responsibility for safety and the constant pressures of tight schedules and budgets. Recent SGB projects include Guy’s Hospital, Westminster College and Victoria Station in London, Flax Mill in Shrewsbury, Forth Road Bridge in Glasgow, Scotland, and South Hook LNG Terminal in Wales.

“By combining resources, Lyndon SGB will have more locations and greater depth of expertise,” said Mick Herke, managing director of Brand Energy & Infrastructure Services in Europe, “and we will be able to leverage our scale to better serve customers. Both Lyndon Scaffolding and SGB are strong companies with an emphasis on excellent quality and service. Together as Lyndon SGB, we can create more value for clients.”

About BrandSafway

With a commitment to safety as its foremost value, BrandSafway provides the broadest range of services, products and solutions, with the greatest depth of expertise, to the industrial, commercial and infrastructure markets. A portfolio company of Clayton, Dubilier & Rice, BrandSafway offers access, industrial services, and forming and shoring solutions to more than 32,000 customers through a workforce of around 35,000 employees, who support our network of approximately 350 strategic locations across 30 countries. With its global footprint, rigorous operating processes and extensive service offerings — a full range of work access, insulation, coatings, specialty industrial service, and forming and shoring solutions — BrandSafway supports customers’ maintenance and refurbishment needs as well as new construction and expansion plans. Today’s BrandSafway — large enough to leverage economies of scale to increase safety and productivity, while also remaining nimble and responsive — delivers unmatched service with local labor and management.

Attachment

Karla Cuculi
BrandSafway
262-523-6580
KCuculi@BrandSafway.com

Source: BrandSafway
 
--BERNAMA

New fNIR tech sheds light on brain activity

KUALA LUMPUR, Jan 3 (Bernama) -- BIOPAC Systems Inc has released its newest generation of functional near infrared optical imaging (fNIR) systems which is able to provide in-lab or real-world cognitive function assessments for physiology researchers looking to understand brain activity without all the expense of fMRI.

The extra-lightweight sensor fits comfortably on the forehead where it monitors relative changes in oxy or deoxy haemoglobin as a proxy for the brain activity in the pre-frontal cortex.

Subjects can be examined in laboratory settings or they can be active in their natural environment with the new mobile fNIR system.

“Experimental design can be more sophisticated with this mobile technology. It gives researchers the opportunity to collect data from subjects as they live their lives,” said BIOPAC chief executive officer, Frazer Findlay, in a statement today.

“Mobile imaging can add value to any study, but is especially important when subjects are children or families, as they can be in a familiar or comfortable environment, yielding better results,” he added.

The new NIRS systems offer three powerful imagers: the fNIR 2000C, which is a stationary unit that collects data from up to 18 optodes; the fNIR 2000M, which is a wireless and mobile imager that collects data from up to 18 optodes and can be used while subjects are performing tasks in the lab or in the real world; and the fNIR 2000S, which is a 54-optode capable imager with advanced features for recording up to three subjects simultaneously.

A new through-the-hair sensor will allow researchers to assess other areas of the brain such as motor and visual cortices. Adding in different parts of the brain increases understanding of brain activity without the complications of fMRI.

All systems include fNIRSoft and COBI software for data collection and analysis. Data can be synchronised with and imported into AcqKnowledge Software for a complete understanding of physiological response, including EEG, EDA, ECG, BP and other important physiology signals.

BIOPAC, which was founded in 1985, is recognised around the world as a premier choice for life science hardware and software.

Worldwide, over 99 per cent of the top 100 universities and Global Fortune 500 companies rely on BIOPAC systems for their life science research and teaching system needs. For details, visit www.biopac.com.

-- BERNAMA

AIRLINERATINGS.COM NAMES THE WORLD'S SAFEST AIRLINES FOR 2019

AsiaNet 76924

PERTH, Australia, Jan. 3, 2019/Medianet International-AsiaNet/ --

AirlineRatings.com (www.AirlineRatings.com) the world's only safety and product rating website has announced Qantas as its safest airline for 2019.

AirlineRatings.com has also announced its Top Twenty safest airlines and ten safest low-cost airlines from the 405 it monitors.

The top twenty are the who's who of airlines and in alphabetical order are: Air New Zealand, Alaska Airlines, All Nippon Airways, American Airlines, Austrian Airlines, British Airways, Cathay Pacific Airways, Emirates, EVA Air, Finnair, Hawaiian Airlines, KLM, Lufthansa, Qantas, Qatar Airways, Scandinavian Airline System, Singapore Airlines, Swiss, and United Airlines and Virgin group of airlines (Atlantic and Australia).

These airlines are standouts in the industry and are at the forefront of safety, innovation and the design and launching of new aircraft said AirlineRatings.com Editor-in-Chief Geoffrey Thomas.

"For instance, Australia's Qantas has been recognized by the British Advertising Standards Association in a test case in 2008 as the world's most experienced airline."

"It is extraordinary that Qantas has been the lead airline in virtually every major operational safety advancement over the past 60 years and has not had a fatality in the jet era," said Mr Thomas.

"But Qantas is not alone. Long established airlines such as Hawaiian and Finnair have perfect records in the jet era."

Responding to public interest, the AirlineRatings.com editors also identified their top ten safest low-cost airlines.

These are in alphabetical order: Flybe, Frontier, HK Express, Jetblue, Jetstar Australia / Asia, Thomas Cook, Volaris, Vueling, Westjet and Wizz.

In making its selections AirlineRatings.com takes into account numerous critical factors that include; audits from aviation's governing bodies and lead associations; government audits; airline's crash and serious incident record, fleet age and profitability.

AirlineRatings.com also announced its lowest ranked (one star and two star) airlines which are; Ariana Afghan Airlines, Bluewing Airlines, Kam Air, Tara Air and Trigana Air Service.

About AirlineRatings.com
AirlineRatings.com rates the safety and in-flight product of 405 airlines using its unique seven-star rating system. It is used by millions of passengers from 232 countries and has become the industry standard for safety and product rating. The editorial team is one of the world's most experienced with 50 awards and 28 industry books.

SOURCE: AirlineRatings.com

--BERNAMA