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Yahoo
21-05-2025
- Automotive
- Yahoo
GCL Announces ‘JDM: Japanese Drift Master' Worldwide Launch
SINGAPORE, May 21, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd. (NASDAQ: GCL) ('GCL' or the 'Company'), a leading provider of games and entertainment, today announced the highly anticipated launch of 'JDM: Japanese Drift Master' that is regionally published and distributed in Asia by GCL's game publishing subsidiary 4Divinity. After several years in active development by Polish development studio and publisher Gaming Factory, 'JDM: Japanese Drift Master,' is now available on Steam, GOG, and Epic Games Store for $34.99 USD — with a 15% launch discount available for the first two weeks to welcome all new drivers to the streets of Guntama, Japan. Explore the Soul of Japan Through a Manga Story Mode That Shifts Gears From buzzing city centers to remote mountain passes, 'JDM: Japanese Drift Master' invites players into an open world inspired by Japan's iconic scenery and underground racing culture. Cruise freely, participate in exciting driving events, or simply take in the view – every road tells a story. Featuring officially licensed cars from top Japanese automakers like Honda, Mazda, Nissan, and Subaru, each vehicle is modeled with stunning detail and different handling for a truly authentic ride. Experience the fictionalized world of Guntama through a narrative that blends fast-paced racing with emotional storytelling – all brought to life through fully illustrated manga panels. Rise through the ranks, meet unforgettable characters, and carve out your legacy in the underground drift scene. "Today marks an exciting milestone for Gaming Factory, our team at 4Divinity, and for fans of high-performance driving around the world. Built around one of the most comprehensive tuning systems in the genre, 'Japanese Drift Master' empowers players with unparalleled control over both performance and style—driving deep engagement and strong community retention,' said Sebastian Toke, Group CEO of GCL. 'With a robust post-launch roadmap featuring new content, cars, and ongoing feature updates, we're positioned to support sustained growth and long-term player investment. We're excited about the momentum this sets for the future, and we can't wait for you to see what's next." About GCL Global Holdings GCL Global Holdings Ltd. 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. Drawing on a deep understanding of gaming trends and market dynamics, GCL Group 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 4Divinity 4Divinity is a digital and retail games publishing company and a wholly owned subsidiary of GCL, focused on bringing exciting game content from around the world to Asia and introducing Asian content to a global market. Along with its sister company, Epicsoft Asia, 4Divinity is partnering with publishers and development studios to introduce brand-new IP to the region. About Gaming Factory Founded in 2017, Gaming Factory is a Polish game development studio and publisher dedicated to delivering engaging and innovative gaming experiences. As both a creator and distributor, the company focuses on crafting high-quality titles across various genres. Gaming Factory's flagship project, JDM: Japanese Drift Master, is an open-world drifting simulation that captures the spirit of Japanese car culture. With a passion for immersive gameplay and a commitment to excellence, Gaming Factory continues to expand its portfolio while bringing unique gaming experiences to gamers worldwide. Learn more at 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 which will be 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 A photo accompanying this announcement is available at
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
Straits Times
05-05-2025
- Business
- Straits Times
Delistings accelerate on SGX; CapitaLand Investment, iFast dive
In 2025, so far, at least nine companies have announced potential delistings. PHOTO: ST FILE 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 cents a share in cash. The offer price represents a premium of 60.8 per cent over Ban Leong's last transacted share price of 37.5 cents before the offer was made. GCL Global's chief executive Sebastian Toke told The Straits Times that the company sees strong strategic value in acquiring Ban Leong, citing its distribution strength in South-east Asia and growth in commercial and e-commerce 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,' Mr Toke said. 'The acquisition will 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 per cent of the company. If Epicsoft Asia secures at least 90 per cent 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 per cent to close the week at 59 cents, their highest level since the company listed in June 2005. Valuation gap 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 eight companies have announced potential delistings. They are: SLB Development, PEC, Econ Healthcare, Sinarmas Land, ICP, Amara Holdings, Procurri Corp, and Ban Leong. 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 per cent of Amara. Meanwhile, shareholders of Japfa and Paragon Real Estate Investment Trust (Reit) 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. CapitaLand Investment, iFast drop 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 per cent to $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 core dividend of 12 cents a share, unchanged from 2023's payout, on May 13. A special dividend-in-specie of 0.031 CapitaLand Integrated Commercial Trust's units per share valued at 6 cents will also be paid. 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 $496 million for the quarter ended March 31, representing a 24 per cent year-on-year decline due to the deconsolidation of Clas. In December 2024, CLI sold a 4.9 per cent stake in Clas for $162 million to an unrelated party, resulting in Clas no longer qualifying as its subsidiary. Shares of iFast dropped by more than 11 per cent during the week, closing on May 2 at $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$380 million (S$63.7 million) from its previous guidance of HK$500 million. Other market movers Shares of Straco Corporation rallied almost 9 per cent, closing the week at 44 cents, after executive chairman Wu Hsioh Kwang acquired 16,545,000 shares at 40 cents each. Bourse filings on April 28 showed that Mr Wu increased his direct stake in the company, which runs the Singapore Flyer and several tourist attractions in China, from 1.04 per cent to 2.97 per cent. Including his 55.02 per cent deemed interest, his total interest in the company now stands at 57.99 per cent. Hong Kong-listed graphics card maker PC Partner, which has a secondary listing in Singapore, rose by more than 8 per cent in the week, when chipmaker Nvidia told some of its biggest Chinese customers that it is tweaking the design of its AI chips so they can be sold to Chinese businesses without clashing with US export rules, the media reported. PC Partner makes video graphics cards that use Nvidia and AMD graphic processing units (GPUs) for third-party customers globally. It reported in February a 331 per cent year-on-year jump in 2024 net profit to HK$262.1 million, on the back of a 10 per cent jump in revenue to over HK$10 billion over the same period. Samudera Shipping rose 4 per cent during the week to close at 87 cents. The shipping line on April 29 announced that it had moved a total of 490,000 20-foot containers in the first quarter of 2025, higher than the same period a year ago. Higher charter rates also led to average revenue per container of $238, compared with $221 over the same period. What to look out for this week 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 per cent in April, now account for 51 per cent of the STI. Institutional investors sold over $700 million worth of shares in the three banks in April, according to SGX data. In contrast, retail investors ploughed $1.58 billion into the three stocks during the month, the data showed. Correction note: An earlier version of our report may have given the impression that CapitaLand Investment's share price declined due to its first-quarter results. In fact, the dip occurred as the stock traded ex-dividend, a point that was explained in the story. CapitaLand Investment also clarified that it paid a special dividend of 6 cents in relation to the distribution of CapitaLand Integrated Commercial Trust on top of its core dividend of 12 cents. Separately, we reported that Aoxin Q&M would be delisted or privatised. This is incorrect — Q&M Dental has stated its intention to keep Aoxin Q&M listed. Join ST's Telegram channel and get the latest breaking news delivered to you.
