Standard Chartered Private Equity has made a $42 million investment in Omni Centre Pte Ltd, a new electronics retail joint venture with TT International Limited. As a result of the transaction, SCPE now has a minority stake in Omni Centre, which owns and operates 60 electronic retail stores in Indonesia.
19 May 2015, Singapore – Standard Chartered Private Equity (SCPE) has invested US$42m to acquire a 45% stake in a newly formed retail electronics joint venture, Omni Centre Pte Ltd, with TT International Limited.
SCPE’s capital investment will go towards financing consumer electronic retail stores and online expansion across ASEAN. TT International has injected most of its “Electronic Solution” brand stores in Indonesia into the joint venture. With this transaction completed, the joint venture owns and operates about 60 stores across Indonesia, and is well positioned as a leading electronic retailer in the largest economy in ASEAN.
About TT International Limited
TT International is an Asian MNC with strong expertise in penetrating into emerging markets worldwide. Established in 1984, and listed on the SGX in June 2000, its core businesses are:
· Sourcing, International trading and distribution of branded electrical and electronics products;
· Marketing, sale and brand management of its AKIRA brand of consumer electronics products;
· Marketing, sale and brand management of furniture products under various brandnames: such as its own brands NOVENA, Natural Living, Barang Barang, Castilla, Castilla Premium and ModLiving and exclusive brands from overseas such as Italy, Germany, Spain, etc; and
· Large Scale Retail of consumer products in Brunei, Cambodia, Indonesia, Malaysia, Singapore and Taiwan.
Headquartered in Singapore, and with its regional offices around the world, it is one of Singapore’s leading international traders of electrical and electronics products. For the past 30 years, the Group has established strong business relationships with more than 100 suppliers and has successfully and profitably provided customized, valued-added services to meet its customers’ needs in more than 60 countries worldwide.
TT International’s AKIRA brand of consumer electronics products that includes a full range of audio-visual products, household products and home appliances, has market coverage of some 60 countries worldwide.
TT International is engaged in retailing, distribution and trading of consumer electronics, furniture and furnishing products to the public, distributors and dealers. It operates 100 furniture and consumer electronics stores in total 6 countries including Singapore and Indonesia, respectively. It also owns and operates BIG BOX, Singapore’s largest mega warehouse retail store concept.
More information can be found at: http://www.tt-intl.com and http://www.myakira.com.
Standard Chartered Private Equity
Standard Chartered Private Equity (“SCPE”) is the private equity arm of Standard Chartered Bank. SCPE invests in companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPE focuses on companies whose principal operations and management are located in Asia, Africa or the Middle East. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank, and since inception has invested about US$6 billion in over 100 companies across the bank’s footprint. It currently has over USD 400m invested in 7 companies in Indonesia.