,Singapore

Daily Briefing: Temasek-owned gas importer to open Madrid HQ in 2020; Trendlines Group has invested $30.3m of its agrifood fund

And property portal 99.co launched platform to enhance agents’ marketing.

From Reuters:

Singapore’s gas importer and marketer Pavilion Energy is targeting new markets in Europe and expanding in Asia in a bid to become a global liquefied natural gas (LNG) trader, its chief executive said.

The company expects a turnover of $4.13b (US$3b) next year with half the amount to come from its Europe portfolio after a recent acquisition and the rest from Singapore, Frederic Barnaud, Pavilion Energy’s group chief executive said in an interview.

Pavilion, owned by Singapore’s sovereign wealth fund Temasek Holdings, supplies natural gas for one-third of Singapore’s industrial requirements while in Spain, it will have about 3% to 5% of market share once its acquisition is complete.

It is also aiming to increase its global headcount to about 150 people by next year, by adding 40 to 50 people in various functions such as finance, risk management, LNG trading and operations in its European headquarters of Madrid which it plans to open in January 2020.

The Madrid office follows its acquisition in June of Spanish energy company Iberdrola’s LNG assets, which doubled Pavilion’s portfolio and gave it access to European regasification terminals as well as Atlantic supplies.

Read more here.

From DealStreetAsia:

SGX Catalist-listed tech startup incubator Trendlines Group has reached the first close of $30.31m (US$22m) for its $55.11m (US$40m) agrifood fund.

According to a statement, Singapore sovereign wealth fund Temasek Holdings and Librae Holdings, a UK-based trust owned by real estate magnate Vincent Tchenguiz, are backing the fund.

In July, DealStreetAsia reported about LH entering into a placement share agreement with Trendlines to invest $10.9m (US$8m). Whilst Trendlines did not divulge details about separate investments being made by LH, two sources aware of the development said that Temasek is the anchor investor and contributed about $10 million to the fund.

Enterprise Singapore and SEEDS Capital have also been roped in as co-investors for the fund.

Read more here.

From e27:

Singapore based real-estate platfrom 99.co has partnered with Google to launch PowerPusher, a platform that reportedly enables property agents to automate their campaign creation and extend their marketing to ad networks such as Google and Facebook.

The company said that PowerPusher seeks to enable new advertisers to save time and achieve up to seven times ROI.

The platform was built using Facebook and Google APIs, and allows for customised ads. The product has been in private beta since July 2019 and according to the company, has seen great reception at a recent soft launch event with over 10% of the event attendees purchased a pre-launch package.

The company notes that next in the pipeline will be extending the capability to non-agent advertisers who are interested to target the proptech sector’s audiences, as well as expanding to more networks and formats such as YouTube.

Read more here.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banks should have enough buffers and find climate transition risks manageable.
The initiative is expected to improve the operating environment for SG businesses.
This includes the upgrade to the latest data acquisition and control system.
A potential incentive fee of up to $18m may be applied. 
This is part of the group’s efforts to spearhead maritime decarbonisation.
This is higher compared to September's retail sales YoY increase at 6.8%.
Restaurants experienced the most YoY decline at 24%. 
Over 40 companies were recognised in the 7th edition of the awards programme.
VTL scheme to proceed “without change” amidst detection of Omicron variant in Korea.
SATS, Sembcorp Industries, and the SGX led the index.
Birth rates in the country have declined since the pandemic began.
It represents a premium to the property’s book value of approximately $20.6m.
The move will be part of the redevelopment of the Central Mall properties.
It also waived its right to walk away from potential material adverse effects.