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In today’s briefing:
- Halcyon Agri: MGO One Step Closer As SASAC Approves SPA
- Bio-Degradable Food Container Startup Alterpacks Raises US$1M Funding
- Morning Views Asia: Fosun International, Hopson Development, Lippo Karawaci
Halcyon Agri: MGO One Step Closer As SASAC Approves SPA
- Back on the 16 November, Halcyon Agri (HACL SP) announced Sinochem, holding 65.2% of shares out, had entered into an SPA to sell 36% to China Hainan Rubber (601118 CH).
- Upon completion of the SPA, Hainan Rubber will make an MGO, conditional on a 50% tendering acceptance. Sinochem has provided an undertaking not to tender its remaining 29.2% stake.
- Halcyon has now announced SASAC has given the green light for the SPA. Outstanding conditions include MoC and NDRC. Those approvals should fall into place shortly.
Bio-Degradable Food Container Startup Alterpacks Raises US$1M Funding
- Alterpacks, a Singapore-based provider of biodegradable food containers, has closed its US$1 million pre-seed funding round.
- The company provides new economic value to spent grains, a by-product of the food manufacturing process, after producing malted drinks, such as milo or beer.
Alterpacks is also creating bio-pellets to replace petroleum-based resins used in standard manufacturing machines today.
Morning Views Asia: Fosun International, Hopson Development, Lippo Karawaci
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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