Daily Briefing: Malaysia's Etika buys vending operator Advend Systems; US-based tour pass platform LPG expands to Singapore

And developer Centurion Corp buys student accommodation asset in UK for $27m.

From DealStreetAsia:

Malaysia-based drinks distributor Etika has agreed to acquire Singapore-based vending machine operator Advend Systems, which is backed by Dymon Asia Private Equity, according to a press statement.

As part of the deal, Etika will acquire Advend’s businesses in Malaysia and Singapore that operate under Atlas Vending brand. Financial terms of the deal remain undisclosed. The deal is expected to complete by Q1-2020.

Following this acquisition, Etika will have a total of 10,000 machines across Singapore and Malaysia.

Read more here.

From TTG Asia:

US-based Leisure Pass Group (LPG), which runs multiple attraction pass platform Go City, is planting its flag in South-east Asia with Singapore as its debut destination.

The Go Singapore platform will allow users to purchase tour and attraction passes at discounts of up to 52 per cent through two different packages: All-Inclusive and Explorer. The All-Inclusive pass covers activities for two to seven days in Singapore, while the Explorer pass provides users with open passes to be used at any three to seven activities.

The platform, which was first announced at ITB Asia in October, currently offers 38 products in Singapore, and users can redeem these passes by scanning a QR code on the mobile app.

Next year, LPG will introduce a pass in Bangkok in January 2020, with further plans to expand to Kuala Lumpur, Seoul, Phuket and Tokyo.

Read more here.

From DealStreetAsia:

Singapore-listed Centurion Corporation, which owns, develops and manages accommodation assets, has announced the proposed acquisition of Archer House, a 177-bed asset in the United Kingdom, for $27.04m (£15.1m).

Located at 14-22 Castle Gate, Nottingham, the student accommodation asset is expected to increase Centurion’s portfolio to 33 globally, bringing the number of beds under management to c.65,133. It also will bring the Centurion’s UK portfolio to 2,852 beds across 11 assets in five cities.

Archer House comprises 93 studios and 84 en-suite rooms and provides laundry facilities and study area facilities.

Centurion Corporation with its subsidiaries owns, develops and manages workers’ accommodation assets in Singapore and Malaysia, and student accommodation assets in Singapore, Australia, South Korea, the UK and the US.

Read more here.

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Penilaianmu: MagBe