CSE Welcomes Heliconia as Strategic Investor

Source Company Press Release
Company CSE Global Limited, Temasek Holdings (Private) Limited
Tags Country: Singapore, M&A: Corporate Deal, Deals, Segment: OFS News
Date July 07, 2020

CSE Global Limited (“CSE”, and together with its subsidiaries, the “Group”), a global technology solutions provider, today announced that entities managed and controlled by Heliconia Capital Management Pte. Ltd (“Heliconia”), a wholly-owned subsidiary of Temasek, has emerged as a substantial shareholder of CSE following the acquisition of a 25.03% stake through a married deal with Serba Dinamik International Ltd.

Through various funds that it manages, Heliconia has invested in leading Singapore enterprises, helping them to further expand and internationalise their business operations. With Heliconia as a key stakeholder, the Group hopes to leverage on Heliconia’s network and expertise to support its growth plans.

Following the acquisition, Heliconia has requested that CSE consider the appointments of Mr Lim How Teck (Chairman of Heliconia) and Mr Derek Lau (Chief Executive Officer of Heliconia) as non-executive directors to the Board of Directors (“Board”). The request is currently being reviewed by the Nominating Committee (the “NC”) and the Board

Mr Lim Boon Kheng, Chief Executive Officer of CSE, said, “We welcome Heliconia as a strategic investor. The emergence of Heliconia as a substantial shareholder is a strong testament to our business proposition and track record. The Group will be in a stronger position to expand our businesses both in the Singapore and overseas markets with a strong institutional shareholder base.”

Mr Derek Lau, Chief Executive Officer of Heliconia, said, “We are excited by the opportunity to journey with CSE going forward.

CSE has done well building up a suite of engineering capabilities and integrated solutions that are highly sought after by their customers executing high value, mission critical projects around the world.

CSE has also extended its capabilities to new growth areas such as the Smart Cities projects. As an incoming shareholder, Heliconia is looking forward to engaging with CSE in its goals to build new capabilities and solutions for a better, smarter and more sustainable post-Covid 19 world.”

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd