Latest news with #EpicsoftAsia
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
06-05-2025
- Business
- Business Times
Why a US-listed video game firm is paying a premium to take Ban Leong private
[SINGAPORE] For over 30 years, one little-known wholesaler and distributor of technology products – including IT accessories, gaming components and smart technology – steadily built up its distribution network. Even after Ban Leong Technologies listed on the mainboard of the Singapore Exchange in June 2005, it remained largely under the radar to both consumers and investors. Now, it is making headlines as video game distributor Epicsoft Asia, an indirect wholly owned subsidiary of Nasdaq-listed GCL Global, is splashing out cash to take the company private. Headquartered in Singapore with regional offices in Malaysia and Thailand, Ban Leong is an authorised distributor for over 50 well-known brands, including Razer, Nvidia, Samsung, Huawei, TP-Link and LG. 'This acquisition is not a short-term play on stock performance, it's a strategic move to integrate Ban Leong's strong distribution and vendor network with GCL Global's digital capabilities and software portfolio,' GCL Global's chief executive Sebastian Toke told The Business Times. 'We see this as a platform for accelerating physical reach and product innovation in Asia's fast-evolving consumer tech landscape,' he added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The acquisition could also signal a trend where global software companies want control over physical touchpoints, especially in Asia. 'Software companies are increasingly seeking ways to influence the entire customer experience from digital interaction to physical product deployment,' Toke said. 'This is particularly relevant in Asia, where rapid urbanisation, strong mobile adoption, and consumer demand for smart devices are reshaping how technology is distributed and consumed.' Epicsoft Asia last week made a cash offer of S$0.6029 per share to Ban Leong's shareholders. This represents a 60.8 per cent premium over Ban Leong's last transacted share price of S$0.375 on Apr 29, the day before the offer was announced. It is also at a premium of 75.5 per cent to Ban Leong's volume-weighted average price of S$0.3435 over the last 12 months. The offer price also represents a premium of 42.4 per cent over the group's net asset value per share of S$0.4233 as at Sep 30, 2024. Epicsoft Asia has received irrevocable undertakings from Ban Leong's managing director Ronald Teng and his wife Teo Su Ching to accept the offer. Together, the couple holds 28.13 per cent of the company. If Epicsoft Asia scoops up at least 90 per cent of Ban Leong shares at the close of the offer, it said it will exercise its rights to compulsorily acquire the remaining shares from shareholders who have not accepted the offer. Since the offer was made, shares of Ban Leong have jumped 57.3 per cent to close at S$0.59 on Monday (May 5). Toke believes there is 'untapped value' in Ban Leong's brand partnerships, regional infrastructure and sales network that justifies the premium paid. 'Ban Leong's assets hold strong strategic value that we believe has yet to be fully realised by the broader market,' he said. For the latest first half-year to September 2024, Ban Leong reported earnings of S$1.4 million, down 36.2 per cent from S$2.2 million the previous year. H1 revenue fell 4.8 per cent to S$97.5 million, from S$102.4 million previously. 'Beyond the numbers, Ban Leong has demonstrated strong adaptability to market shifts. It successfully expanded into e-commerce during the pandemic, attracted new brand partnerships, and grew its commercial segment,' Toke said. 'These are not typically reflected in the share price but point to operational depth and untapped growth potential,' he added. Since its listing 20 years ago in 2005, shares of Ban Leong have climbed just 70.5 per cent to S$0.375, before the offer was made. Long-time shareholders, though, might still rue its delisting. The counter has generated a total return – with dividends reinvested – of 478.8 per cent over the same period. This works out to an annualised total return of 9.2 per cent.
Business Times
06-05-2025
- Business
- Business Times
Why a US-listed video game firm is paying a premium for a Singapore-based tech products distributor
[SINGAPORE] For over 30 years, one little-known wholesaler and distributor of technology products – including IT accessories, gaming components and smart technology – steadily built up its distribution network. Even after Ban Leong Technologies listed on the mainboard of the Singapore Exchange in June 2005, it remained largely under the radar to both consumers and investors. Now, it is making headlines as video game distributor Epicsoft Asia, an indirect wholly owned subsidiary of Nasdaq-listed GCL Global, is splashing out cash to take the company private. Headquartered in Singapore with regional offices in Malaysia and Thailand, Ban Leong is an authorised distributor for over 50 well-known brands, including Razer, Nvidia, Samsung, Huawei, TP-Link and LG. 'This acquisition is not a short-term play on stock performance, it's a strategic move to integrate Ban Leong's strong distribution and vendor network with GCL Global's digital capabilities and software portfolio,' GCL Global's chief executive Sebastian Toke told The Business Times. 'We see this as a platform for accelerating physical reach and product innovation in Asia's fast-evolving consumer tech landscape,' he added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The acquisition could also signal a trend where global software companies want control over physical touchpoints, especially in Asia. 'Software companies are increasingly seeking ways to influence the entire customer experience from digital interaction to physical product deployment,' Toke said. 'This is particularly relevant in Asia, where rapid urbanisation, strong mobile adoption, and consumer demand for smart devices are reshaping how technology is distributed and consumed.' Epicsoft Asia last week made a cash offer of S$0.6029 per share to Ban Leong's shareholders. This represents a 60.8 per cent premium over Ban Leong's last transacted share price of S$0.375 on Apr 29, the day before the offer was announced. It is also at a premium of 75.5 per cent to Ban Leong's volume-weighted average price of S$0.3435 over the last 12 months. The offer price also represents a premium of 42.4 per cent over the group's net asset value per share of S$0.4233 as at Sep 30, 2024. Epicsoft Asia has received irrevocable undertakings from Ban Leong's managing director Ronald Teng and his wife Teo Su Ching to accept the offer. Together, the couple holds 28.13 per cent of the company. If Epicsoft Asia scoops up at least 90 per cent of Ban Leong shares at the close of the offer, it said it will exercise its rights to compulsorily acquire the remaining shares from shareholders who have not accepted the offer. Since the offer was made, shares of Ban Leong have jumped 57.3 per cent to close at S$0.59 on Monday (May 5). Toke believes there is 'untapped value' in Ban Leong's brand partnerships, regional infrastructure and sales network that justifies the premium paid. 'Ban Leong's assets hold strong strategic value that we believe has yet to be fully realised by the broader market,' he said. For the latest first half-year to September 2024, Ban Leong reported earnings of S$1.4 million, down 36.2 per cent from S$2.2 million the previous year. H1 revenue fell 4.8 per cent to S$97.5 million, from S$102.4 million previously. 'Beyond the numbers, Ban Leong has demonstrated strong adaptability to market shifts. It successfully expanded into e-commerce during the pandemic, attracted new brand partnerships, and grew its commercial segment,' Toke said. 'These are not typically reflected in the share price but point to operational depth and untapped growth potential,' he added. Since its listing 20 years ago in 2005, shares of Ban Leong have climbed just 70.5 per cent to S$0.375, before the offer was made. Long-time shareholders, though, might still rue its delisting. The counter has generated a total return – with dividends reinvested – of 478.8 per cent over the same period. This works out to an annualised total return of 9.2 per cent.
The Star
05-05-2025
- Business
- The Star
Delistings mount amid poor trading liquidity
SINGAPORE: Four Singapore Exchange (SGX) companies announced privatisation offers last week, taking the number of companies that have received such offers in 2025 to at least 11. While most of the companies received offers from major shareholders citing poor trading liquidity as the main reason for privatisation, one firm – gaming hardware distributor Ban Leong Technologies – received an offer last week from a third-party acquirer with no prior relationship to the company. Singapore gaming company Epicsoft Asia, a wholly owned subsidiary of Nasdaq-listed gaming giant GCL Global, on April 30 made an offer to take Ban Leong private for 60.29 Singapore cents a share in cash. The offer price represents a premium of 60.8% over Ban Leong's last transacted share price of 37.5 cents before the offer was made. GCL Global's chief executive Sebastian Toke said that the company sees strong strategic value in acquiring Ban Leong, citing its distribution strength in South-East Asia and growth in commercial and eCommerce segments as qualities not fully reflected in its share price. 'Both Epicsoft Asia and Ban Leong are born and bred Singapore firms with a strong presence in interactive entertainment software and gaming-related hardware, respectively, in Asia,' Toke said. 'The acquisition would combine the strengths of both companies in ways that would enable GCL to expand its global strategy in developing and marketing differentiated gaming products.' Epicsoft Asia has already received irrevocable undertakings to accept the offer from Ban Leong's managing director Ronald Teng Woo Boon and his wife Teo Su Ching, who together hold 28.13% of the company. If Epicsoft Asia secures at least 90% of Ban Leong's issued shares at the close of its offer, it can compulsorily buy the remaining shares at the same offer price from shareholders who have not accepted the offer. Shares of Ban Leong jumped by more than 57% to close the week at 59 cents, their highest level since the company listed in June 2005. The proposed acquisition of Ban Leong underscores the disconnect between public market valuations on SGX and the underlying strengths of many listed companies. Despite demonstrating strong performance and growth potential, firms like Ban Leong remain undervalued, largely due to low trading liquidity and limited market visibility. This valuation gap is attracting buyers like GCL Global, who are willing to pay a premium for quality assets that the market has overlooked. It also raises questions about how SGX can better support fairer valuations and stem the pace of delistings, which has been accelerating. In 2025 so far, at least nine companies have announced potential delistings. They are SLB Development, PEC, Econ Healthcare, Sinarmas Land, ICP, Amara Holdings, Procurri Corp, Aoxin Q&M and Ban Leong. The privatisation offers for Amara, Procurri Corp, Aoxin Q&M and Ban Leong all took place last week. Amara, which received an offer from its bosses and developers Wing Tai and Hwa Hong, has already secured irrevocable undertakings from chairman Albert Teo and his family, who collectively hold 90.58% of Amara. Meanwhile, shareholders of Japfa and Paragon Real Estate Investment Trust have since accepted offers to be taken private. The companies will be delisted from the SGX. In contrast, just one company, automotive group Vin's Holdings, has listed on the SGX so far. A second company, candy maker YLF Group Marketing, called off its planned initial public offering in April. The pace of potential delistings also appears to be accelerating, compared with the previous year. In 2024, a total of 20 companies delisted from the Singapore bourse, while four new companies went public. Two companies saw their shares dive last week, one of which was CapitaLand Investment (CLI), a constituent of the Straits Times Index (STI). Shares of the property fund manager dropped 8% to S$2.53 on May 2 after trading ex-dividend. This is the cut-off date when buying the stock no longer entitles investors to receive the next dividend payout. CLI has declared a 2024 dividend of 12 cents a share, unchanged from 2023's payout, on May 13. CLI on April 30 also announced poorer revenues for the first quarter of 2025 after excluding contributions from CapitaLand Ascott Trust (Clas) from its financial results. Revenue amounted to S$496mil for the quarter ended March 31, representing a 24% year-on-year decline due to the deconsolidation of Clas. In December 2024, CLI sold a 4.9% stake in Clas for S$162mil to an unrelated party, resulting in Clas no longer qualifying as its subsidiary. Shares of iFast dropped by more than 11% during the week, closing on May 2 at S$6.30 despite announcing that its global trust, a Singapore-incorporated entity within the group, had been granted a trust business licence by the Monetary Authority of Singapore. This will enable iFast to expand its wealth management capabilities by supporting clients across the entire wealth life cycle, from accumulation and growth to preservation and legacy planning, iFast said. Still, the move failed to offset share price declines earlier in the week, when iFast on April 28 cut the 2025 profit before tax target for its Hong Kong operations to HK$380mil from its previous guidance of HK$500mil. UOB, DBS Bank and OCBC Bank are scheduled to release their 2025 first quarter business updates on May 7, May 8 and May 9, respectively. The three banks, which experienced price declines averaging 8% in April, now account for 51% of the STI. Institutional investors sold over S$700mil worth of shares in the three banks in April, according to SGX data. In contrast, retail investors ploughed S$1.58bil into the three stocks during the month, the data showed. — The Straits Times/ANN
