Daily Briefing: GIC sounds caution as annualised real returns for 20 years hits 3.4%; ThaiBev buys Chinese coffee processing firm

And logistics SaaS platform GoComet bags $3m in series A funding.

From Bloomberg:

Sovereign wealth fund GIC generated an annualised real rate of return of 3.4% for the 20 years ending March 31, which was unchanged from the 2018 figure and the lowest level since the global financial crisis in 2008, according to its annual report.

Furthermore, GIC stated that it’s expecting the US-China trade war, Brexit and over-hyped valuations in developed markets to weigh on returns in coming years.

Whilst GIC has warned of long-term negative trends for several years, these past 12 months have seen the rising use of trade tariffs as a political weapon, as well as other economic hurdles.

GIC’s assets under management went above $135.6b (US$100b). However, it is estimated to oversee about $528.7b (US$390b), making it one of the world’s largest such funds.

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From DealStreetAsia:

Thai Beverage has acquired Mainland China’s coffee processing and trading company Dongguan LiTeng Foods, for $59,071 (US$43,570.50), marking its foray into China’s coffee business.

The 100% stake acquisition by ThaiBev has been routed through its indirect subsidiary Asiaeuro International Beverage (Guangdong). ThaiBev’s presence in China is currently dominated by one distillery producing Yulinquan Chinese spirits. As of September 30, 2018, the company had 173 subsidiaries, including 18 distilleries, 3 breweries and 11 non-alcoholic beverage production facilities in Thailand.

The group has an extensive distribution network covering as many as 400,000 points of sale (POS) across the country.

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From e27:

GoComet, a Singapore-headquartered logistics resource management SaaS platform, announced that it has raised $3m (US$2.2m) in a Series A funding round.

The funding was led by Leo Capital, with participation from SGInnovate and August One, as well as existing investors India Quotient.

GoComet uses deep learning algorithms to operate its logistics resource management (LRM) SaaS platform. The platform aims to reduce costs, save time, optimise operations, and increase deal transparency and efficiencies for enterprises’ freight procurement processes.

Read more here.

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