Daily Briefing: SC Capital Partners to buy Australian asset for $98.9m; OCBC and DBS drop Bank Permata bid

And gift card startup Giftano bags $1.15m in seed funding.

From DealStreetAsia:

SC Capital Partners is acquiring a property asset in Australia from Malaysia-listed real estate company UEM Sunrise Bhd for $98.9m (A$107m), according to a stock exchange announcement.

SC Capital Partners has fully acquired the property through its Australia-registered entity, Real Estate Capital Partner V (RECAP V). The 21-storey building, located on 412 St Kilda Road in Melbourne’s Central Business District, has 16.258 sq m net lettable area and 174 car park bays.

In May 2019, SC Capital announced its final close of RECAP V for $850 million, as reported by DealStreetAsia. Through its RECAP funds, SC Capital focuses on opportunistic real estate projects such as residential, office, retail, warehouses and hotel properties.

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From Reuters:

Sumitomo Mitsui Financial Group’s (SMFG) chances of acquiring a majority stake in PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued Indonesian lender, sources said.

While Singapore lender OCBC Group Holdings and DBS Group Holdings Ltd had shown interest in the auction for mid-sized Permata, they are no longer pursing it, the sources, who declined to be named because they were not authorised to talk to the media, said.

Reuters reported last week that SMFG and OCBC were working on competing offers and were seen as the frontrunners for Permata.

Read more here.

From e27:

Online gift card startup Giftano has received a $1.15m (US$845,000) seed funding from a group of unnamed angel investors, it announced. The company said it plans to use the funding to focus on the growth of the B2C online marketplace ​giftano.com​, enlargement of its product offerings, and development of the platform.

Founded in 2014, Giftano offers a premium online gift card platform that caters to both the B2C and B2B markets.

Giftano’s approach is a one-stop e-commerce platform that lets customers choose products and services with gift vouchers from more than over 100 F&B, lifestyle, and beauty brands. Its online website allows customers to purchase gift vouchers from the get-go.

Read more here.