Total private equity and venture capital investments in ASEAN nations came up to US$ 21 billion in 2016.
By Betty Ho
Of the nations, Indonesia and Singapore received the highest investments. Brunei’s figures were highly skewed given there were only 2 deals and one of the deals worth US$ 0.8 billion involved Hengyi Industrial (Brunei) Co., Ltd, an infrastructure deal.
ASEAN 2016 – PEVC Investment Values (US$m)
Private equity and venture capital deals in Philippines and Cambodia were low given the hype they have received about their respective economies.
ASEAN 2016 – Deal Count (US$m)
Malaysia and Thailand under performed Singapore in terms of number of deal counts and invested dollars even though they were much larger nations. Deal counts were lowest in Brunei.
ASEAN 2016 – PEVC Average Deal Size (US$m)
The average PEVC deal size in ASEAN were varied. Indonesia’s figures were skewed by 2 deals, PT. Wijaya Karya Bangunan Gedung (US$ 3.4 billion) and Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (US$ 1.8 billion). The former is a construction company and the latter, an infrastructure company.
The average deal size for Brunei was skewed by Hengyi Industrial (Brunei) Co., Ltd. The firm offers petrochemical project construction and engineering services. The company was founded in 2011 and is based in Bandar Seri Begawan, Brunei. Hengyi Industrial (Brunei) Co., Ltd. operates as a subsidiary of Hong Kong Tianyi International Holding Co., Ltd.
PEVC deals in ASEAN 2016
VC deals in in ASEAN outweighed PE deals during the year in 2016. This is consistent for emerging markets in ASEAN region.
ASEAN PEVC Deal League Tables
Top 10 deals in ASEAN
| Date | Target/Issuer | Transaction Status | US$m Value | Buyers/Investors | Type |
| September-16 | PT. Wijaya Karya Bangunan Gedung | Closed | 3,422 | PT Wijaya Karya (Persero) Tbk (JKSE:WIKA) | PE |
| June-16 | Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara | Closed | 1,769 | Republic of Indonesia | PE |
| November-16 | Hengyi Industrial (Brunei) Co., Ltd. | Announced | 803 | Hong Kong Tianyi International Holding Co., Ltd.; Damai Holding Limited | VC |
| September-16 | GrabTaxi Holdings Pte Ltd | Closed | 750 | Honda Motor Co., Ltd. (TSE:7267); Tokyo Century Corporation (TSE:8439); SB Group US, Inc. | VC |
| November-16 | SingTel Asian Investments Pte Ltd | Closed | 696 | Singapore Telecommunications Limited (SGX:Z74) | PE |
| April-16 | RHB Bank Berhad (KLSE:RHBBANK) | Closed | 640 | RHB Capital Berhad | PE |
| April-16 | Singapore Telecom International Pte Ltd. | Closed | 566 | Singapore Telecommunications Limited (SGX:Z74) | PE |
| August-16 | PT Go-Jek Indonesia | Closed | 550 | Warburg Pincus LLC; KKR & Co. L.P. (NYSE:KKR); Farallon Capital Management, L.L.C.; Sequoia Capital India; Northstar Group; DST Global; Rakuten Ventures; NSI Ventures; Capital Group Private Markets, Inc.; Formation Group | PE |
| April-16 | CPF (Thailand) Public Company Limited | Announced | 500 | Charoen Pokphand Foods Public Company Limited (SET:CPF) | VC |
| April-16 | Lazada South East Asia Pte. Ltd. | Announced | 500 | Alibaba Group Holding Limited (NYSE:BABA) | VC |
Lazada, Go-Jek, Grab Taxi are among the most famous deals concluded in 2016.
In April 2016, Alibaba Group Holding Limited (NYSE:BABA) entered into an agreement to acquire 21.5% stake in Lazada South East Asia Pte. Ltd. from Tesco PLC (LSE:TSCO), Investment AB Kinnevik (OM:KINV B), Rocket Internet SE (XTRA:RKET) for approximately US$ 320 million.
In August 2016, PT Go-Jek Indonesia announced that it has received US$ 550 million in funding from Warburg Pincus LLC; KKR & Co. L.P. (NYSE:KKR); Farallon Capital Management, L.L.C.; Sequoia Capital India; Northstar Group; DST Global; Rakuten Ventures; NSI Ventures; Capital Group Private Markets, Inc.; Formation Group. PT Go-Jek Indonesia owns and operates a fleet of motorcycle taxi fleet and provides delivery services. The company was founded in 2011 and is based in Jakarta, Indonesia.
In December 2016, GrabTaxi Holdings Pte Ltd announced that it has received US$ 750 million in funding from SoftBank Internet and Media, Inc., Honda Motor Co., Ltd., Tokyo Century Corporation (TSE:8439), and other investors.
Top ten deals in Singapore
| Date | Target/Issuer | Transaction Status | US$m Value | Buyers/Investors | Type |
| September-16 | GrabTaxi Holdings Pte Ltd | Closed | 750 | Honda Motor Co., Ltd. (TSE:7267); Tokyo Century Corporation (TSE:8439); SB Group US, Inc. | VC |
| November-16 | SingTel Asian Investments Pte Ltd | Closed | 696 | Singapore Telecommunications Limited (SGX:Z74) | PE |
| April-16 | Singapore Telecom International Pte Ltd. | Closed | 566 | Singapore Telecommunications Limited (SGX:Z74) | PE |
| April-16 | Lazada South East Asia Pte. Ltd. | Announced | 500 | Alibaba Group Holding Limited (NYSE:BABA) | VC |
| December-16 | DBS Bank Ltd. | Closed | 449 | DBS Group Holdings Ltd (SGX:D05) | PE |
| June-16 | Wan Hai Lines (Singapore) Pte Ltd. | Announced | 313 | Wan Hai Lines Ltd. (TSEC:2615) | PE |
| September-16 | Terumo Capital Management Pte. Ltd | Announced | 300 | Terumo Corporation (TSE:4543) | VC |
| November-16 | Lite-On Mobile Pte. Ltd. | Announced | 219 | Lite-On Technology Corporation (TSEC:2301) | PE |
| August-16 | CM International Holding Pte. Ltd. | Closed | 200 | Korea Exchange Bank, Investment Arm | VC |
| November-16 | Singapore Telecom International Pte Ltd. | Closed | 186 | Singapore Telecommunications Limited (SGX:Z74) | PE |
In November 2016, Singtel Asian Investments Pte Ltd announced that it has received S$ 985.09 million in funding from Singapore Telecommunications Limited.
In the same month of November, Lite-On Mobile Pte. Ltd. announced that it has received S$ 309.21 million in funding from Lite-On Technology Corp.
Top 10 deals in Malaysia
| Date | Target/Issuer | Transaction Status | US$m Value | Buyers/Investors | Type |
| April-16 | RHB Bank Berhad (KLSE:RHBBANK) | Closed | 640 | RHB Capital Berhad | PE |
| June-16 | Proton Holdings Bhd. | Announced | 427 | DRB-HICOM Berhad (KLSE:DRBHCOM); GovCo Holdings Berhad | PE |
| December-16 | edotco Group Sdn. Bhd. | Announced | 399 | Innovation Network Corporation of Japan | VC |
| March-16 | LONGI (Kuching) Sdn. Bhd. | Effective | 60 | LONGI (H.K.) Trading Limited | VC |
| June-16 | ELPION Silicon Sdn Bhd | Closed | 31 | OCI Specialty Co., Ltd. | VC |
| April-16 | OM Materials (Sarawak) Sdn Bhd. | Closed | 28 | Samalaju Industries Sdn Bhd | VC |
| March-16 | RedCap Pharmacy Sdn Bhd | Closed | 25 | Creador | PE |
| September-16 | FFM Further Processing Sdn Bhd | Closed | 15 | BRF Foods GmbH | PE |
| July-16 | NEP Holdings (Malaysia) Berhad | Closed | 14 | V.S. Industry Berhad (KLSE:VS) | PE |
| June-16 | IPark Development Sdn. Bhd. | Closed | 12 | Fujiplates Manufacturing Sdn. Bhd.; AME Properties Sdn Bhd. | VC |
In Malaysia, top 10 PEVC deals were dominated by consumer companies. In the case of Singapore, technology deals dominated the scene.
Top 10 deals in Indonesia
| Date | Target/Issuer | Transaction Status | US$m Value | Buyers/Investors | Type |
| September-16 | PT. Wijaya Karya Bangunan Gedung | Closed | 3,422 | PT Wijaya Karya (Persero) Tbk (JKSE:WIKA) | PE |
| June-16 | Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara | Closed | 1,769 | Republic of Indonesia | PE |
| August-16 | PT Go-Jek Indonesia | Closed | 550 | Warburg Pincus LLC; KKR & Co. L.P. (NYSE:KKR); Farallon Capital Management, L.L.C.; Sequoia Capital India; Northstar Group; DST Global; Rakuten Ventures; NSI Ventures; Capital Group Private Markets, Inc.; Formation Group | PE |
| December-16 | PT Duta Alam Ekapratama | Closed | 375 | PT Andalan Satria Lestari | VC |
| December-16 | PT Nusantara Sejahtera Raya | Announced | 261 | GIC Pte. Ltd. | VC |
| September-16 | Lembaga Pembiayaan Ekspor Indonesia | Announced | 242 | Indonesia Ministry Of Finance, Investment Arm | PE |
| March-16 | PT Sarana Multi Infrastruktur (Persero) | Announced | 152 | Republic of Indonesia | PE |
| June-16 | Perum Bulog | Closed | 151 | Republic of Indonesia | VC |
| June-16 | PT Angkasa Pura II (Persero) | Closed | 151 | Republic of Indonesia | PE |
| June-16 | PT Hutama Karya (Persero) | Closed | 151 | Republic of Indonesia | PE |
Top 10 deals in Thailand
| Date | Target/Issuer | Transaction Status | US$m Value | Buyers/Investors | Type |
| April-16 | CPF (Thailand) Public Company Limited | Announced | 500 | Charoen Pokphand Foods Public Company Limited (SET:CPF) | VC |
| April-16 | Synnex Global Ltd. | Closed | 100 | Synnex Technology International Corporation (TSEC:2347) | PE |
| August-16 | Siam Food Services Limited | Announced | 91 | Siam Makro Public Company Limited (SET:MAKRO) | PE |
| September-16 | Yuanta Securities (Thailand) Company Limited | Announced | 87 | Yuanta Securities Asia Financial Services Limited | PE |
| October-16 | Startex Rubber Co., Ltd. | Closed | 74 | Sri Trang Agro-Industry Public Company Limited (SET:STA) | PE |
| September-16 | Red Planet Hotels Limited | Closed | 70 | Goldman Sachs Private Capital Investing | PE |
| November-16 | The One Enterprise Company Limited | Announced | 54 | – | VC |
| May-16 | Makro ROH Co., Ltd. | Announced | 46 | Siam Makro Public Company Limited (SET:MAKRO) | VC |
| March-16 | Mono Production Co.,Ltd. | Closed | 43 | Mono Technology Public Company Limited (SET:MONO) | PE |
| November-16 | Sikarin Hadyai Holding Company Limited | Closed | 42 | – | VC |
