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Asia Plantation Capital is Planting the Seeds of Malaysia’s Future Agarwood Industry

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KUALA LUMPUR, Malaysia /PRNewswire/ — Asia Plantation Capital is delighted to announce that, as part of the company’s planned expansion strategy in Malaysia, the first phase of planting has now been completed on its Batu Pahat plantation.

Newly setup factory in Masai, Johor Bahru for Asia Plantation Capital distillation and processing agarwood
Newly setup factory in Masai, Johor Bahru for Asia Plantation Capital distillation and processing agarwood
Asia Plantation Capital is ready for planting saplings at Batu Pahat Plantation, Johor, Malaysia
Asia Plantation Capital is ready for planting saplings at Batu Pahat Plantation, Johor, Malaysia

A joint venture has already been established to manage a large specialist agarwood plantation outside Kuala Lumpur, where the Aquilaria Sinensis species is being grown specifically for the high value market in China. Aligned with this has been the opening of the company’s state of the art distillation and wood chip processing factory inJohor.

As well as specializing in agarwood (gaharu), Asia Plantation Capital cultivates and grows many high value timber species and crops. The company is now bringing to Malaysia the systems and technologies it has pioneered and developed over the last decade in Thailand, India and Sri Lanka.

In the Kingdom of Thailand, Asia Plantation Capital now owns and manages more than 1.5 million agarwood trees as part of its expanding global portfolio of over 7.5 million trees. The company has a range of estates in its portfolio stretching from Sakhon Nakhon in the north- east, to Hua Hin in the south, making Asia Plantation Capital the largest commercial grower in Thailand today, employing (in peak seasons), more than 1,000 people.

In Malaysia, Asia Plantation Capital has now planted a total of 13,400 Aquilaria Malaccensis and Aquilaria Crassna saplings on the new Batu Pahat plantation, as phase one of its ongoing project. The second phase will begin planting immediately, leading to a total of around 27,000 trees being planted, to accompany a state of the art nursery that will be established to house approximately 500,000 saplings.

Situated 100 kilometres north of Johor Bahru, and 5 kilometres from Junction 241 on the North-South Expressway, the plantation is ideally located for visitors and students from Singapore, Johor and Kuala Lumpur, as well as other local and regional growers. The facility is considered by Asia Plantation Capital to be a showcase plantation that demonstrates and utilizes the very latest techniques in planting and husbandry. The plantation boasts 24-hour security, and ultra-modern surveillance systems; not only to look out for any unwelcome visitors, but also to monitor the progress of the saplings.

In an interview on BFM’s 89.9 morning radio ‘Breakfast Grill’, Asia Plantation Capital Berhad’s CEO, Steve Watts, explained the company’s strategy for expansion into Malaysia. “As part of our US$50 million investment in the country, we wish to position Malaysia at the forefront of the global development in agarwood/gaharu,” he said. “This includes not only our new factory in Johor, where we have our own distillery – as well facilities to produce infused wood chips and other agarwood related products – but also includes the acquisition of our own plantations and a number of joint ventures with local planters; specifically those who have stock, but no access to the all-important inoculation processes.”

Watts continued, “We are also forming a joint venture with the Islamic University in Gombak, to further explore the benefits of agarwood as a treatment for cancer-related illnesses. This will include a plantation managed by Asia Plantation Capital, but owned by the University. Asia Plantation Capital is also very proud that its Malaysian products have already been conferred with Sharia Compliance status by the IBFIM.”

Part of the company’s strategy is to share information and help educate local growers on the systems needed to achieve the best commercial and environmental results from agarwood plantations. Very few of these growers, if any, have the fully vertically integrated business model that Asia Plantation Capital operates, all the way through to its own retail and wholesale outlets in all the key markets.

Steve Watts added, “The company plans to offer an ‘outgrower’ programme to local growers. Due to market demand, we need to secure as much future supply as possible, and by working with local growers we will be able to expand, and at the same time help educate and demonstrate the benefits of the systems and the detailed research we have conducted over the last decade. Phase 1 of this programme started last year, with us inoculating mature trees in Johor with our proprietary systems, and, more recently, those outside Kuala Lumpur. The early results have already proven that we have a serious advantage over other systems in the market.”

Watts concluded, “We believe that with our systems and our policy of supporting and working with local growers, we can help advance Malaysia in the future growth of the global agarwood industry.”

Agarwood has been in the news recently in Malaysia, due to the number of illegally harvested agarwood seizures made by government officials, along with a spate of arrests. It’s clear that the market has changed significantly in recent times, with the demand for sustainable and legal agarwood now firmly established and growing. In many areas, agarwood in the wild has been logged almost to the point of extinction, due to its high value and the attendant illegal logging. Asia Plantation Capital is one of the few companies in this sector actively developing a legal, sustainable, and ‘clean’ agarwood industry, and hopes to develop further into other new markets and countries.

Notes for Editors:

Zureina Maidin
PR & Marketing Director, Malaysia
Email: zureina.maidin@asiaplantationcapital.com
Mobile: +6013-774-1009

Zaahira Muhammad
Senior PR & Marketing Executive, Malaysia
Email: zaahira@fragrancedubois.com
Mobile: +6012-203-5344

About Asia Plantation Capital

Asia Plantation Capital Berhad in Malaysia is now investing heavily in the Malaysian plantation sector, developing new plantations and factories for the production of agarwood (gaharu) and other associated products for the international export markets. In Thailand, Asia Plantation Capital’s plantations and projects are already widely regarded as industry leading in terms of their establishment, husbandry and advanced scientific systems that are attracting international visitors from institutional, commercial, government and academic backgrounds.

The Asia Plantation Capital Group is a multi-award-winning sustainable plantation operator and management company, with projects across four continents, and a global workforce in excess of 2,000. Our Scientific Advisory Board is comprised of leading academics from various countries (China, Thailand, Malaysia, India, Switzerland and the United Arab Emirates), who have, between them, developed and patented industry-leading technologies and systems.

With a focus on commercial plantation projects and vertically integrated businesses that offer a combination of commercial, environmental and community benefits, Asia Plantation Capital has created a successful and dynamic ‘triple bottom line’ company.

Photo – http://photos.prnasia.com/prnh/20150902/8521505709-a
Photo – http://photos.prnasia.com/prnh/20150902/8521505709-b

 

Source: Asia Plantation Capital

Written by asiafreshnews

September 4, 2015 at 5:41 pm

Posted in Business & Finance

Bindo to Unveil New Restaurant POS Solution with $2 Million Investment

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-Leading retail technology company secures $2 million for its bridge round to develop an iPad POS solution for brick-and-mortar merchants in the F&B industry

NEW YORK  /PRNewswire/ — Bindo, a leading cloud-based business management solution for brick-and-mortar merchants, today announced it has debuted a beta version of its new iPad POS system, Bindo POS for Restaurant. The company also announced it has secured $2 million in funding from strategic investors eager to see the POS solution expand into new verticals.

Bindo will use the investment to launch the new POS system globally, enabling restaurant owners to have one complete and holistic business solution that can integrate telephone orders, online ordering, table management, reservations, and ingredient-level tracking all in one platform. Bindo POS for Restaurant is now available in beta at a few select restaurants, and will become publicly available in mid-September.

Bindo POS for Restaurant provides a simple way for restaurants to easily manage their inventory and sales from a centralized back-office dashboard, whilst also allowing them to accept and schedule reservations from a centralized cloud-based platform. Restaurants are given the tools to better forecast inventory and supply needs by accurately recording the ingredients that go into each dish. Bindo POS for Restaurant will also maximize seating capacity and table turnover by enabling front of house to seamlessly schedule bookings through an integrated CRM and floor planning system.

“We wanted a mobile and elegant POS solution to complement our modern restaurant theme and came across Bindo,” said Ivan Yeh, Owner of Shoku Bar and Restaurant and first-time user of Bindo POS for Restaurant. “Since deployment, Bindo has helped us cut down on excess inventory and vastly improved the way we run our operations. Best of all, Bindo’s integrated mobile credit card processing allows our servers to take orders and payments at the table, making way for that ‘wow’ factor and allowing for a better dining experience for our customers.”

“We met with so many restaurateurs who were fed up with the choice of POS systems available (both iPad & traditional POS). The iPad POS systems in the market were not sophisticated or robust enough for their needs, and the traditional systems were expensive, inflexible and difficult to use,” said Brad Lauster, Co-founder of Bindo. “Bindo POS for Restaurant fills that gap in the market with a solution that’s powerful, customizable and a pleasure to use.”

The investors that led the new funding round have decades of operational expertise in the F&B industry, and played a pivotal role in fine-tuning the customizations needed for the many restaurant-types supported by Bindo’s solution. Bindo POS for Restaurant will be available for use in private beta by signing up on bindopos.com or calling 1-800-MYBINDO.

A quick demo of the Bindo POS for Restaurant technology is also available upon request.

ABOUT BINDO

Founded in 2011, Bindo is the one-stop iPad Point-of-Sale (POS) solution that connects local brick-and-mortar merchants to their customers, giving businesses a more cohesive and competitive technology solution that complements the ever-changing and dynamic needs of their consumers. With Bindo POS, businesses will be able to better manage their stores, keep track of their customers and have access to sophisticated tools to allow their business be run more efficiently. Coming soon, the Bindo Market iPhone app will allow everyday consumers to make on-demand delivery purchases directly on their smartphones, thereby closing the Online-to-Offline loop for merchants.

For more information about Bindo POS, visit https://bindopos.com
For more information about Bindo Market, visit https://bindo.com

Source: Bindo
Related Links:

Written by asiafreshnews

September 4, 2015 at 4:18 pm

Posted in Business & Finance

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Neuberger Berman Appoints Former Central Banker Kent Chen To Lead Asia Private Equity Efforts

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NEW YORK and HONG KONG, May 13, 2015 /PRNewswire/ — Neuberger Berman, one of the world’s leading employee-owned investment managers, today announced the appointment of Kent Chen as Managing Director and leader of the firm’s private equity efforts in the Asia Pacific region.

In this newly-created role based in Hong Kong, Mr. Chen will advise local clients and lead the firm’s regional efforts investing in global private equity across a wide spectrum of strategies.

Mr. Chen joins Neuberger Berman from the Hong Kong Monetary Authority (HKMA) after 17 years of central banking career in various positions including Deputy Chief Representative of the HKMA’s New York Office and Advisor to the Executive Director for China at the International Monetary Fund in Washington D.C. From 2008, Mr. Chen helped to establish the HKMA’s private equity program, comprising of global buyout, Asia private equity and global energy investments.

Before joining the HKMA in 1998, Mr. Chen was Head of China Research at Daiwa Securities in Hong Kong covering the Chinese stocks market with a focus on infrastructure, energy and power equipment stocks.

Mr. Chen has been awarded the Chartered Financial Analyst designation and earned a Master of Public Administration from Columbia University, Master of Business Administration from University of Hull and Bachelor of Science in Economics from University of London.

Nick Hoar, Head of Asia Pacific, commented: “Kent brings to Neuberger Berman over two decades of investment and central banking experience. His skills will be invaluable as we strengthen our services, solutions and support to our clients in the Asia Pacific region who are increasing exposure to alternative asset classes, especially private equity.”

“With his extensive experience in global private equity, Kent is an excellent addition to the Neuberger Berman private equity business,” said Anthony Tutrone, Global Head of Alternatives. “We believe Kent’s appointment will enable us to deepen our presence in the Asia Pacific region and broaden the scope of our private equity capabilities globally.”

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of March 31, 2015. For more information, please visit our website at http://www.nb.com.

All information is as of March 31, 2015 unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman LLC).

This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit http://www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions.

The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. © 2015 Neuberger Berman Group LLC. All rights reserved.

Media Contact: Alex Samuelson, +1-212-476-5392, Alexander.Samuelson@NB.com
Elina Choy, Asia, 852-3664-8835, Elina.Choy@NB.com

Logo – http://photos.prnewswire.com/prnh/20121010/MM90850LOGO

Source: Neuberger Berman

Written by asiafreshnews

May 15, 2015 at 2:51 pm

Posted in Business & Finance

Mindtree’s Full Year Revenue Grows 16.4% in Dollar Terms; Declares Final Dividend

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BANGALORE and WARREN, New Jersey, April 16, 2015 /PRNewswire/ — Mindtree, a global technology services company, announced its consolidated results today for the fourth quarter and year ended March 31, 2015, as approved by its Board of Directors.

(Logo: http://photos.prnewswire.com/prnh/20140416/681203)

“We have delivered industry leading performance with a revenue growth of 16.4% for FY15. The results validate our decision to transform Mindtree to be a valued, digital partner for our clients. In this, our expertise in agile, analytics, cloud and Internet of Things (IoT) is making deep impact. What makes us additionally happy is that our customer satisfaction levels are at a record 3-year high,” said Krishnakumar Natarajan, CEO & Managing Director, Mindtree.

Key financial highlights:

Quarter ended March 31, 2015

In USD terms:
Revenue at $147.8 million (growth of 0.1% q-o-q / 11.3% y-o-y). Constant currency revenue growth of 1.8% q-o-q
Net profit at $20.7 million (decline of 9.2% q-o-q / growth of 30.5% y-o-y)
In Rupee terms:
Revenue at Rs 9,181 million (growth of 0.7% q-o-q / 11.5% y-o-y)
Net profit at Rs 1,287 million (decline of 8.6% q-o-q / growth of 31.1% y-o-y)
Year ended March 31, 2015

In USD terms:
Revenue at $583.8 million (growth of 16.4%)
Net profit at $87.9 million (growth of 17.9%)
In Rupee terms:
Revenue at Rs 35,619 million (growth of 17.5%)
Net profit at Rs 5,363 million (growth of 19%)
Other highlights:

Clients:
217 active clients as of March 31, 2015
$10 million clients grow to 14; $5 million clients grow to 28
Employees:
14,202 employees as of March 31, 2015
Added 1,517 employees during the quarter on a gross basis
Trailing 12 months attrition is at 18.2%
Awards and recognition:
Mindtree featured as a ‘Major Player’ in IDC’s Marketscape for Worldwide Mobile Application Development and Testing Services 2014 Vendor Assessment
Mindtree was named the winner of the Silver Shield by ICAI Awards for Excellence for Financial Reporting for the year 2013-14
Dividend announcement:
The Board of Directors, at its meeting held on April 16, 2015 recommended a final dividend of 100% (Rs 10 per equity share of par value Rs 10 each) for the year ended March 31, 2015. Accordingly, the cumulative dividend declared by the Board of Directors for the year ended March 31, 2015 aggregates to 170% (Rs 17 per equity share of par value Rs 10 each)
About Mindtree

Mindtree [NSE: MINDTREE; CIN: L72200KA1999PLC025564] delivers technology services and accelerates growth for Global 1000 companies by solving complex business challenges with breakthrough technical innovations. Mindtree specializes in e-commerce, mobility, cloud enablement, digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. We are among the fastest growing technology firms globally with more than 200 clients and offices in 14 countries.

Safe harbour

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Visit us at http://www.mindtree.com.

For more information, contact:
Priyanka Waghre
Mindtree
+91-98867-29295
Priyanka.Waghre@mindtree.com

Siddhartha Tanti
Genesis Burson-Marsteller
+91-99863-62435
Siddhartha.Tanti@bm.com

Kiran Farooque
PPR Worldwide
+44-207-300-6181
Kiran.Farooque@pprww.com

Sarah Elder
Max Borges Agency
+1-415-548-6850
sarahelder@maxborgesagency.com

Source: Mindtree

Written by asiafreshnews

April 17, 2015 at 2:10 pm

Posted in Business & Finance

BTCGaw is now buying Bitcoins with 11% more than Blockchain official rate

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MILFORD, Delaware, April 9, 2015 /PRNewswire/ — BTCGaw INC. (http://www.btcgaw.com) has announced yesterday its latest offer for Bitcoin sellers: a conversion rate with an 11% increase compared to Blockchain’s official rate. The company conducts its marketing campaign with a lot of confidence that their deal for Bitcoin trade is the best on the market at the moment.

The Delaware-based company was founded in July 2014 by former banking professional Tony Gaw, who has seen the business opportunity in the emerging markets of cryptocurrency in general and Bitcoin in particular. The investment he has made so far in Bitcoin exceeds USD 1.6 Mil.

The company’s strategy is pooling large amounts of Bitcoin, while putting together an online exchange office focused on corporate business. BTCGaw has closed two deals already becoming the exclusive exchange house for two large online vendors who will start accepting Bitcoin payments in the near future and another deal still under negotiation for signing with a major online Casino, which has also opened his policy for Bitcoin acceptance.

The uncertainty revolving around the cryptocurrency environment, together with the volatility of the digital currencies have not discouraged the young entrepreneur who put his money, time and financial know-how into developing a business which is viewed as adventurous at most by many of the traditional investors.

“It will eventually go mainstream within the financial system and we’re not very far from that point, it’s only a matter of few years,” declared Gaw. While dealing with uncertainty risk at the core of its business, Gaw has approached it as opportunity risk and built a strategy and a team of professionals around his idea of the business of the future.

In this pursuit BTCGaw has put an highly competitive offer on the table of Bitcoin sellers, who want to benefit from the company’s latest offer and who are willing to sell their Bitcoin for what the company claims to be “the best deal available on the market.”

All the details related to the company’s offer and other information, together with the contact details of the Sales Team are available on their website: http://www.btcgaw.com

Source: BTCGaw Inc.

Written by asiafreshnews

April 10, 2015 at 11:23 am

Posted in Business & Finance

Northwood Securities Launches NWS International Property Fund

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— Expansion Provides Investors with New Alternative to REIT Investments
NEW YORK, April 2, 2015 /PRNewswire/ — Northwood Securities, LLC (NWS), a premier real estate firm investing in publicly-traded real estate securities, today announced the launch of NWS International Property Fund (the “Fund”). The Fund seeks to fill a void for U.S. investors looking to gain access to the international real estate market by investing in real estate investment trusts (“REITs”) as well as corporations that are principally engaged in the ownership, management, construction, financing or sale of commercial, industrial or residential real estate.

Logo – http://photos.prnewswire.com/prnh/20150401/195983LOGO

Northwood Securities’ new Fund aims to provide investors with exposure to offshore property companies with an emphasis on higher growth markets which tend to be less price efficient than their U.S. peers. The Fund will seek to generate attractive total returns through current income and capital appreciation in real estate equities. The Fund’s management team believes investments in the major international property markets, including in emerging market countries, will benefit from the expanding role of securitization and the fundamental need for better quality real estate.

“For investors seeking new and unique ways to tap into the global REIT market, we are pleased to offer our clients compelling investment alternatives based on our real estate-focused analysis and high conviction implementation,” said James E. Rehlaender, Chief Executive Officer of Northwood Securities. “We have an award winning team of global investment professionals ready to employ our extensive international real estate experience through a fundamental, value-oriented approach.”

The Fund’s team is led by Mr. Rehlaender, global portfolio manager based in New York, Peter Nieuwland, European portfolio manager based in Amsterdam, and Suang Eng Tsan, Asian portfolio manager based in Singapore. Collectively the fund managers have over 75 years of industry experience.

Northwood Securities’ new Fund management team has a strong track record of success. Working together for over a decade, the team has won Lipper Fund Awards in 2012, 2013 and 2014 for Best International Real Estate Fund over a 5-year period; Lipper Fund Awards in 2011 and 2012 for Best International Real Estate Fund over a 3-year period; and a Lipper Fund Award in 2006 for Best International Real Estate Fund over a 1-year period. The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. Lipper Fund Awards are part of the broader Thomson Reuters Awards for Excellence program.

About Northwood Securities, LLC:

Northwood Securities, LLC (NWS) was formed to combine the expertise of a very experienced real estate securities team with Northwood Investors, LLC, a highly regarded property private equity investment and management firm. Headquartered in New York with seasoned research teams in Amsterdam and Singapore, NWS offers regional and global investment strategies through a variety of vehicles, and prides itself on its deep fundamental analysis and market knowledge in order to maximize returns for clients. For further information on Northwood Securities, visit: http://www.northwoodinvestors.com.

Risk Considerations:

Past performance is not indicative of future results. Mutual fund investing involves risk, including the possible loss of principal. The Fund’s return may be relatively volatile because it concentrates on the real estate sector. Special risks that may affect real estate investments include declining property values, defaults by borrowers of tenants, and changing regulatory or economic conditions that have greater relative impact upon real estate companies. Under federal law, the Fund is classified as “non-diversified” because it may devote a larger portion of its assets to single issues than a “diversified” fund.

Investing overseas involves special risks, including the volatility of currency exchange rates, and in some cases, political and economic instability, and relatively illiquid markets. Emerging markets involve greater risks than more developed markets as they may be more volatile and less liquid. The Fund may invest in small and mid-sized capitalization companies meaning that these companies carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock.

Before investing you should carefully consider Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 844-218-5182.

Shares of the Fund are distributed by Foreside Funds Distributors LLC.

Media Contact:
Edelman Financial Communications
Rebecca Kral, 212-729-2483
rebecca.kral@edelman.com

Source: Northwood Securities, LLC

Written by asiafreshnews

April 8, 2015 at 3:28 pm

Posted in Business & Finance

GO Scale Capital Investment Consortium Leads 80.1% Acquisition of Lumileds From Philips

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AMSTERDAM, March 31, 2015 /PRNewswire/ — GO Scale Capital, an investment fund sponsored by GSR Ventures and Oak Investment Partners has announced today that it will acquire an 80.1% interest in Philips’ combined LED components and Automotive lighting business, with Philips retaining the remaining 19.9%* interest. The transaction values the business at an enterprise value of approximately USD 3.3 billion. The transaction is expected to be completed in the third quarter of 2015, subject to closing conditions, including customary regulatory approvals.

Following the transaction, the new company will continue under the name Lumileds, led by CEO Pierre-Yves Lesaicherre. Philips will remain an important customer of Lumileds and will continue the existing innovation and supply partnership. The transaction includes the transfer of a broad patent portfolio of more than 600 patent families related to LED manufacturing and automotive lighting from Philips to Lumileds.

Sonny Wu, co-founder and managing director of GSR Ventures and chairman of GO Scale Capital, who will serve as interim Chairman of Lumileds following the completion of the transaction, stated that “the Lumileds acquisition will be a perfect example of how GO Scale turns cutting edge technologies into world class companies. GO Scale Capital will focus on expanding Lumileds’ opportunities by investing in its global centers of operation and in the fast growing general lighting and automotive industries. Through Lumileds’ world-leading technology in key verticals such as LED chips, LED mobile flash and automotive lighting, together with a customer base including the likes of BMW, Volkswagen and Audi, we expect to see significant growth and unparalleled inroads into new opportunities such as electric vehicles.”

GO Scale Capital is a new investment fund sponsored by GSR Ventures and Oak Investment Partners. The consortium partners are Asia Pacific Resource Development, Nanchang Industrial Group and GSR Capital. The GO Scale Capital team has deep technology expertise and a track record in scaling up disruptive technologies in China. Current investments include Boston Power, a leading manufacturer of electric vehicle batteries and Xin Da Yang, a fast growing Eco-EV company in China. The team brings deep knowledge of the technology and new energy sectors. Through their past investments in the LED industry, they have access to complementary technologies and manufacturing capacity. This uniquely complements Lumileds’ high-power LED manufacturing footprint and expertise, and the combination offers opportunities for the company to pursue further growth and scale through the GO Scale model.

“Philips is very positive about this transaction with GO Scale Capital as its principals are long-term, growth-oriented investors with a track record of building and expanding technology companies,” said Frans van Houten, CEO of Royal Philips. “We have significantly improved the performance of the LED components business and optimized the industrial footprint in the Automotive lighting business over the last few years, and established a strong management team and innovation pipeline. We are therefore convinced that together with GO Scale Capital, Lumileds can grow faster, attract more customers and increase scale as a stand-alone company.”

“I am convinced that together with the new investors led by GO Scale Capital, Lumileds will extend its leading product portfolio of lighting components and continue to achieve robust growth,” said Pierre-Yves Lesaicherre, CEO of Lumileds. “With our strong technology leadership, we are ready to address the future needs of our customers. We will work closely with our industry partners and customers to lead innovation and the transformation of our industry.”

Lumileds is a leading supplier of lighting components to the general illumination, automotive and consumer electronics markets with operations in more than 30 countries and has approximately 8,300 employees worldwide. In 2014, it generated sales of approximately USD 2 billion and a double-digit EBITA margin.

* including a 34% interest in the Lumileds US operations

About GO Scale Capital

Sponsored by GSR Ventures and Oak Investment Partners GO Scale Capital is a growth stage fund under the GSR Capital families of funds, with offices in Beijing, Hong Kong and Silicon Valley. The fund’s team brings together years of cross border operating experience and successful co-investment history in mature and cutting edge technologies. The fund’s goal is to scale up its investments in China for global markets.

About Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2014 sales of EUR 21.4 billion and employs approximately 105,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at http://www.philips.com/newscenter.

Source: GO Scale Capital

Written by asiafreshnews

April 1, 2015 at 2:08 pm

Posted in Business & Finance