Latest news with #BanLeong
Business Times
03-07-2025
- Business
- Business Times
Stocks to watch: Seatrium, Ban Leong, Oiltek, Addvalue
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 3): Seatrium : The group has secured a floating storage regasification unit (FSRU) conversion contract from energy company Kinetics. The project will commence in the third quarter of 2025 and involves the conversion of a liquefied natural gas carrier into an FSRU named LNGT Turkiye. It is the seventh FSRU partnership between the two companies. Shares of Seatrium were up 1 per cent or S$0.02 at S$2.05 as at 9.10 am on Thursday. Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the technology products distributor private closed at 5.30 pm on Wednesday. The offeror now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of Ban Leong's total issued shares and plans to compulsorily acquire all remaining unacquired shares and delist the group. Epicsoft Asia is a subsidiary of Nasdaq-listed GCL Global. As Ban Leong no longer meets the Singapore Exchange's 10 per cent free float requirement, its shares will be suspended from 9 am on Thursday. The counter closed flat on Wednesday at S$0.595, before the announcement. Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group said in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday. Addvalue Technologies : The group announced on Thursday that it has secured several new orders totalling around US$1.5 million for its advanced digital radio-related business. These orders are for the supply of the company's proprietary highly compact software defined radio modules to customers in the defence technology industry. They will also increase Addvalue's order book from US$14.3 million as announced on Jun 26, to US$15.8 million. The counter closed flat at S$0.015 on Wednesday.
Business Times
03-07-2025
- Business
- Business Times
Ban Leong Technologies privatisation offer closes with 96.6% valid acceptances
[SINGAPORE] The voluntary unconditional cash offer by video game distributor Epicsoft Asia to take technology products distributor Ban Leong Technologies private closed at 5.30 pm on Wednesday, The offeror, an indirect wholly owned subsidiary of Nasdaq-listed GCL Global, received valid acceptances of around 96.6 per cent or 104.1 million of the company's shares. These include an aggregate of 30.3 million shares or around 28.13 per cent of the total number of issued shares that were tendered in acceptance of the offer, by Ronald Teng, the managing director of Ban Leong, and his wife Teo Su Ching. Epicsoft Asia now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of Ban Leong's total issued shares. With the percentage of Ban Leong's total issued shares held in public hands having fallen below the Singapore Exchange's 10 per cent free float requirement, the counter will be suspended from trading as of 9 am on Thursday. The offeror said that it does not intend to support action or take steps to lift any trading suspension of the group's shares or restore its public float. Instead, it plans to compulsorily acquire all remaining shares of Ban Leong that it does not yet hold and will subsequently delist the company. Shares of Ban Leong closed flat on Wednesday at S$0.595, before the announcement.
Business Times
03-07-2025
- Business
- Business Times
Stocks to watch: Ban Leong, Oiltek, Addvalue
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 3): Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the group private closed at 5.30 pm on Wednesday, the technology products distributor said. As the offeror, a subsidiary of Nasdaq-listed GCL Global, now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of the group's total issued shares, it plans to compulsorily acquire all remaining unacquired shares and delist Ban Leong. With its percentage of publicly held shares now below the Singapore Exchange's 10 per cent free float requirement, shares of Ban Leong will be suspended from 9 am on Thursday. The counter closed flat on Wednesday at S$0.595, before the announcement. Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group said in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday. Addvalue Technologies : The group announced on Thursday that it has secured several new orders totalling around US$1.5 million for its advanced digital radio-related business. These orders are for the supply of the company's proprietary highly compact software defined radio modules to customers in the defence technology industry. They will also increase Addvalue's order book from US$14.3 million as announced on Jun 26, to US$15.8 million. The counter closed flat at S$0.015 on Wednesday.
Business Times
13-06-2025
- Business
- Business Times
Stocks to watch: SIA, Boustead, Ban Leong
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jun 13). Singapore Airlines (SIA) : An Air India plane bound for London crashed moments after taking off from the city of Ahmedabad on Thursday and more than 240 casualties have been reported, authorities said. The Boeing 787-8 Dreamliner, with 242 people on board, which was headed for Gatwick Airport, south of the British capital, had only one survivor after it crashed into a medical college hostel during lunch hour. SIA has a 25.1 per cent stake in Air India following a merger of Vistara – its full-service airline joint venture with Tata Sons – with India's national carrier. Shares of SIA closed 0.4 per cent or S$0.03 lower at S$7.03 on Thursday. Boustead : The company announced that it is conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a real estate investment trust (Reit), to be listed on the mainboard of the Singapore Exchange (SGX). The engineering and technology group said on Thursday that the review is part of its 'ordinary course of business to periodically consider options and opportunities' in relation to its investments to unlock shareholder value. The counter closed 0.8 per cent or S$0.01 higher at S$1.25 on Thursday, before the announcement. Ban Leong : The technology products distributor on Thursday announced that its offeror, Epicsoft Asia, has acquired around 93 per cent or 100.2 million shares of Ban Leong. Consequently, the percentage of the total number of issued shares held in public hands has fallen below 10 per cent, the company said in a bourse filing. It added that Epicsoft Asia intends to acquire all the offered shares not yet acquired. Shares of Ban Leong closed flat at S$0.60 on Thursday. Trading halt Stoneweg European Reit (Stoneweg E-Reit) : Units of Stoneweg E-Reit will cease to trade on SGX on Jun 13 from 5 pm, the company announced on Thursday. Prior to the trading halt announcement, the manager of the Reit announced that it will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled to a unit in Stoneweg European Business Trust. It will then form a stapled security in an entity known as Stoneweg Europe Stapled Trust. The stapled securities will be traded on SGX with effect from Jun 16, 9 am. The counter ended 0.6 per cent or 0.01 euros higher at 1.59 euros on Thursday.
Yahoo
12-06-2025
- Business
- Yahoo
GCL Announces Subsidiary's Intention to Exercise Right of Compulsory Acquisition in relation to the Offer for Ban Leong Technologies Limited and Subsequent Delisting
As of 6.00 p.m. (Singapore time) on June 12, 2025, GCL's indirect subsidiary, Epicsoft Asia Pte. Ltd. (the 'Offeror') owns, controls, or has agreed to acquire an aggregate of 100,167,499 Shares representing approximately 92.92% of the total number of issued Shares of Ban Leong Technologies Limited. SINGAPORE, June 12, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd (NASDAQ: GCL) ('GCL'), a leading provider of games and entertainment and the indirect parent company of the Offeror, today announced that the Offeror has successfully garnered acceptances exceeding 90% of the total number of issued Shares (excluding Shares held in treasury) (the 'Announcement'). As of 6.00 p.m. (Singapore time) on June 12, 2025, GCL's indirect subsidiary, the Offeror owns, controls, or has agreed to acquire an aggregate of 100,167,499 Shares representing approximately 92.92% of the total number of issued Shares of Ban Leong Technologies Limited ('Ban Leong'). Consequently, the Offeror is entitled to, and intends to, exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer. The Offeror will despatch to the Shareholders who have not accepted the Offer ("Dissenting Shareholders") the relevant documentation in relation to the exercise of its right of compulsory acquisition, together with the prescribed notice under the Companies Act 1967 of Singapore, in due course. Subsequent to such compulsory acquisition, the Offeror will proceed to delist Ban Leong from the Singapore Stock Exchange. LOOKING AHEAD As stated in the Offer Document dated May 21, 2025, the acquisition is expected to create potential synergies through economies of scale and improved operational efficiencies. It is also expected to enable new revenue streams, introduce additional sales channels, and enhance both companies' brand positioning within an integrated gaming ecosystem. Following the completion of the Offer, GCL will explore opportunities to align with Ban Leong's marketing and procurement strategies in the consumer electronics and gaming hardware sectors. This may include initiatives such as leveraging Ban Leong's industry relationships, exploring B2C sales opportunities for gaming peripherals and PC components that complement GCL's gaming content, and evaluating the feasibility of introducing branded gaming devices pre-installed with GCL titles. GCL and Ban Leong will also assess how the Group's existing sales and distribution infrastructure across Asia can support the broader commercialisation of GCL's gaming portfolio. Notwithstanding the foregoing, the Offeror will undertake a comprehensive review of Ban Leong's businesses and fixed assets to determine the optimal strategy for Ban Leong, post-closing of the Offer. This press release should be read in conjunction with the full text of the announcement filed by the Company on a Form 6-K, on June 12, 2025, available on the Securities and Exchange Commission ('SEC') website at No Offer or Solicitation This news release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. About GCL Global Holdings Ltd. GCL Global Holdings Ltd. leverages its diverse portfolio of digital and physical content to bridge cultures and audiences by introducing Asian-developed IP to a global audience across consoles, PCs, and streaming platforms. Learn more at About GCL Global Pte. Ltd. GCL Global Pte. Ltd. ('GGPL') unites people through immersive games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to gaming communities worldwide with a strategic focus on the rapidly expanding Asian gaming market. It is an indirect wholly-owned subsidiary of GCL Global Holdings Ltd. About Epicsoft Asia Pte. Ltd. Epicsoft Asia Pte. Ltd. ('Epicsoft Asia'), a wholly-owned subsidiary of GCL Global Pte. Ltd., is a premier distributor of interactive entertainment software. With a robust network and a proven track record of successful game launches, Epicsoft Asia is dedicated to bringing premier gaming experiences to players across Taiwan, Hong Kong, and Southeast Asia. About Ban Leong Technologies Limited Ban Leong Technologies was incorporated in Singapore on 18 June 1993 and was listed on the Main Board of the Singapore Stock Exchange on 23 June 2005. The principal activities of the company and its subsidiaries are the wholesale and distribution of computer peripherals, accessories and other multimedia products. It distributes a wide range of technology products, with key segments that include IT accessories, gaming, multimedia, smart technology and commercial products. The company is headquartered in Singapore with regional offices in Malaysia and Thailand. Forward-Looking Statements This press release includes 'forward-looking statements' made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995, and may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Company, GCL's ability to scale and grow its business, the advantages and expected growth of the Company, and the Company's ability to source and retain talent. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of GCL's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although GCL believes that it has a reasonable basis for each forward-looking statement contained in this press release, GCL cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the proxy statement/prospectus included in the Registration Statement relating to the recent business combination, filed by the Company with the SEC on December 31, 2024 and other documents filed by the Company from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. GCL cannot assure you that the forward-looking statements in this press release will prove to be accurate. There may be additional risks that GCL presently knows or that GCL currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of GCL as of the date of this press release. Subsequent events and developments may cause those views to change. However, while GCL may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of GCL as of any date subsequent to the date of this press release. Except as may be required by law, GCL does not undertake any duty to update these forward-looking statements. GCL Investor Relations:Crocker 652-7185 Directors' Responsibility Statement pursuant to the Singapore Code on Take-overs and Mergers The sole director of the Offeror and the directors of GGPL (including those 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 are fair and accurate and that there are no other material facts not contained in this press release, the omission of which would make any statement in this press release misleading, and they jointly and severally accept responsibility accordingly. Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from Ban Leong (including without limitation, relating to Ban Leong and its subsidiaries), the sole responsibility of the sole director of the Offeror and the directors of GGPL has been to ensure, through reasonable enquiries, that such information is accurately and correctly extracted from such sources or, as the case may be, accurately reflected or reproduced in this press in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
