Daily Briefing: Q&M Dental Group sells 36% stake in China-based associate for $49m; NEU at Novena condo opens for preview

And UK-based startup Upgrade Pack expands to Singapore.

From DealStreetAsia:

Q&M Dental Group is selling 36% stake in its China-based associate company Aidite (Qinhuangdao) Technology for $49m, according to a stock exchange announcement.

The Aidite Technology stake is being acquired by China-based Suzhou Junlian Xinkang Venture Capital Partnership, and three Hong Kong-based firms, namely, Health Advance Limited, Schroder Adveq Asia Hong Kong I and ASP Hero SPV

Q&M Dental Group will use part of the proceeds for working capital and business expansion needs.

Following the deal completion, Q&M Dental Group will retain 12.3% stake of Aidite Technology through its subsidiary Q&M Aidite International (QMAI). Currently, the company owns 48.2 per cent in Aidite Technology.

Read more here.

From PropertyGuru:

A freehold residential development by Roxy-Pacific Holdings, Macly Group and Lim Wen Heng Holdings, NEU at Novena, opened for public preview. Prices start from $1.35m for a two-bedroom unit.

Nestled on a 22,198 sqft site, the 17-storey prime district 11 development features 87 residential units, with sizes ranging between 549 sqft for a two-bedroom apartment and 1,302 sqft for a four-bedder. There will also be dual key three-bedroom units for multi-generational families and investors.

The only new launch next to the upcoming HealthCity Novena, a 17-hectare integrated healthcare development set for completion in 2030, the development is located near Novena MRT Station as well as United Square, Square 2 and Velocity.

Read more here.

From TTG Asia:

UK-based loyalty startup Upgrade Pack has expanded its flight and hotel upgrade business into Asia with the opening of a Singapore office, appointing ex-Google and Expedia executive Toby Berger as Asia-Pacific COO.

“Singapore represents the perfect base for our first phase of international expansion. The city-state has firmly established itself as a global technology and finance leader and with many of our potential banking and corporate clients here, this new office enables us to demonstrate the value Upgrade Pack delivers as a differentiated customer loyalty and employee benefit offering,” said its group CEO Craig Unsworth.

The international expansion comes as the fintech company prepares to roll out its customer loyalty and rewards platform in the region, which provides users with exclusively discounted upgrades on flights and hotels of up to 35 per cent.

Its proprietary technology, delivered through a value-led app, offers banks, credit card issuers and employers a differentiated, digital customer loyalty and employee benefit.

Read more here.

Photo from Q&M Dental Group's Facebook page