CNA938 Rewind - Singapore's Louise Candle – giving Yankee Candle a run for their money?
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CNA
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Japan's SMFG eyes $1.1 billion investment in India's Yes Bank, Bloomberg News reports
Japan's Sumitomo Mitsui Financial Group is mulling a $1.1 billion investment in India's Yes Bank, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Business Times
2 hours ago
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Far East Hospitality opens two hotels in Osaka
[SINGAPORE] Far East Hospitality announced on Tuesday (Jul 15) the opening of two hotels in the Namba South and Honmachi districts in Osaka, in a bid to expand its presence in Japan. This is in partnership with Singapore-based property investment advisory firm Anglo Fortune Capital Group. The introduction of the Far East Village Hotel in these two areas is part of the group's strategy to double its footprint to 2,000 rooms within the next five years across Japan's key gateway cities of Tokyo, Osaka, Kyoto and Fukuoka. Far East Village Hotel Osaka, Namba South, is a 77-room hotel in the vibrant Oku-Namba neighbourhood, south of the city's Namba district. It is within walking distance of key attractions such as Namba Yasaka Shrine and Dotonbori, and is near Daikokucho and Namba stations to offer access to the wider Kansai region. The Far East Village Hotel Osaka, Honmachi, has 165 rooms and is in the Central Business District of Chuo-ku, close to the Osaka Castle. The hotel also offers easy access to popular landmarks such as Osaka-jo Park and the historic Minami district. Mark Rohner, chief operating officer of Far East Hospitality, said: 'We are focused on strengthening the Far East Village brand in the country's key cities, particularly those with vibrant business and leisure appeal. With our combined expertise (with Anglo Fortune Capital Group) and commitment to authentic hospitality, we look forward to delivering memorable guest experiences and unlocking full potential of these properties.' Benjamin Cho, principal of Anglo Fortune Capital Group, said: 'Osaka's dynamic tourism landscape and strategic location make it an ideal addition to strengthening our footprint in key locations across Japan.' With the addition of the two hotels in Osaka, Far East Hospitality will operate five hotels in five years since its entry into Japan. The group first made its entry into the country in July 2020 with the opening of Far East Village Hotel Tokyo Ariake, followed by Far East Village Hotel Yokohama in June 2021. It continued to open its third property Far East Village Hotel Tokyo Asakusa in 2023.
Business Times
2 hours ago
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Temasek's Heliconia Capital awaits MAS approval for new CEO after departure of Derek Lau
[SINGAPORE] Temasek-owned Heliconia Capital Management is awaiting regulatory approval for a new chief executive, some four months after the retirement of its long-time chief Derek Lau. The appointment of Lau's successor has been approved by Heliconia's board but is pending approval from the Monetary Authority of Singapore (MAS), a spokesperson for the private equity firm said in response to queries from The Business Times. Lau, who had served as Heliconia's chief executive since 2013, retired in March. Upon his departure, Heliconia's board approved the formation of an interim executive committee, said the spokesperson. She declined to share details on the new chief executive, how long the appointment process has taken or the reasons for the duration taken to find Lau's replacement. 'We thank (Lau) for his service and wish him a fruitful retirement,' the spokesperson said. Lau is currently listed as a director of the Singapore Sports Hub on its website, as well as the founder of another company, Three2one Holdings. He is also a member of the listings advisory committee of the Singapore Exchange. A NEWSLETTER FOR YOU Friday, 8.30 am SGSME Get updates on Singapore's SME community, along with profiles, news and tips. Sign Up Sign Up Set up in 2010, Heliconia provides growth capital to Singapore small and medium-sized enterprises to help them expand abroad. It has about 25 portfolio companies in Singapore, most recently backing logistics player Sin Chew Woodpaq. Heliconia's past investments include gaming chair maker Secretlab and combat sports outfit One Championship, where Lau was previously a director, but later resigned. 'Over the years, we have balanced our portfolio and realised gains from the exits (and) divestments from some of our investments,' said the Heliconia spokesperson. Such investments include Singapore-listed Nanofilm Technologies International, seafood restaurant chain Jumbo and gaming peripherals maker Razer. In a 2021 interview with BT, Lau said that Heliconia was hunting for deals in new consumer trends, especially product companies with strong branding and user communities.
