Daily briefing: Affirma Capital exits Eaton Towers investment; Validus' Vietnam unit partners with agri-food business

And retailers slash their business hours after Singapore raised its DORSCON level to orange.

From DealStreetAsia:

Singapore-headquartered private equity firm Affirma Capital has exited its investment in African telecom tower company Eaton Towers, according to a press statement.

The exit is conducted as part of a 100% trade sale of Eaton Towers to the listed American Tower Corporation.

Affirma Capital invested growth capital into Eaton Towers in 2015. The consortium was known to invest a total of $400 million in Eaton Towers.

Read more here. 

From e27:

The Vietnam unit of Singapore’s small and medium enterprises (SMEs) financing platform Validus Capital, has partnered with agri-food business and manufacturer. The partnership will provide supply chain financing to SMEs, such as farmers and distributors in Vietnam.

This marks Validus Vietnam’s third partnership in the country in less than three months, following its pilot partnership programme with Medicare Vietnam and Unicorns.

The company said that it will remain using its proprietary technology and credit scoring systems used in Singapore and Indonesia to provide local SMEs to fast, reliable and affordable sources of growth financing.

Read more here. 

From Channel News Asia:

At least two retailers in Singapore have announced shorter business hours or temporary store closures in light of the novel coronavirus outbreak.

This comes after Singapore stepped up its risk assessment of the new flu-like virus last week.

One of them is department store OG, which adjusted its store operating hours. Its three stores, which used to be open from 11am to 9.30pm daily, will now close at 8.30pm until further notice. 

Separately, retail start-up Honestbee has temporarily closed its tech-integrated grocery store Habitat from Monday until Feb 23.

The suspension of the grocery store, which is located in Pasir Panjang and also houses a dine-in area, “may be extended if necessarym,” according to a company spokesperson.

Read more here.