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Singapore’s Tembusu Partners setups Chinese funds worth US$149 million in Guizhou


Tembusu Partners

22/3/2019 – Tembusu Partners, a private equity investment firm based in Singapore announced on Thursday that it is launching several investment funds totalling 1 billion yuan (about US$149.7 million) in China’s Guizhou province.

This coincides with the Chinese central government’s recent efforts to liberalize the economy and promote innovation.

The event also comes after Tembusu was awarded the first Qualified Foreign Limited Partner (QFLP) status by the Chinese government, which will allow investors to enjoy an express lane for regulatory approval and taxation, without foreign currency convertibility issue.

This means investors can make multiple direct investments in Chinese companies more easily with a shortened transaction and investment process.

The funds will be used to invest in technology, infrastructure, healthcare, tourism, and impact-related projects in China. Through the funds, the portfolio companies under Tembusu partners will also become eligible for financial incentive schemes from the Chinese government.

Through the strategic 80:20 joint partnership with the Guizhou government, Tembusu also said it will receive the first-hand access to deal flow.

Since 2017, Tembusu has established an office in Guizhou’s provincial capital Guiyang in addition to its operations in Shanghai and is registered as a private equity fund manager with China’s Asset Management Association.

To further boost its Chinese investments, the PE firm also appointed former president and CEO of Singapore-based property developer CapitaLand, Lim Ming Yan as the chairman of Tembusu’s China Advisory Board.

“Tembusu is a well-regarded Singapore homegrown private equity specialist which has helped fund and nurture a number of emerging Asian companies. I hope to bring my experience and understanding of China to assist Tembusu in its China initiatives,” said Lim.

Andy Lim, Tembusu’s founder and chairman said, “the funds we intend to launch will enable Tembusu to bridge the investment communities of China, Southeast Asia and the rest of the world through accelerated deal flows. As China continues to open up and connect with the world, the fund will pave the way for more to participate starting from Guizhou.”

Founded in 2006, Tembusu holds a capital markets services license issued by the Monetary Authority of Singapore. The firm is a specialist in growth capital and mezzanine investments, its primary geographical markets are within emerging Asia including China, India, and Southeast Asia. Tembusu claims to have completed more than US$185 million worth of PE transactions.

Amazing “Hoi An Memories” show used as an example to help boost Vietnam’s visitor numbers

Hoi An Memories is a musical performance which started from humble beginnings in the small Vietnamese city of Hoi An and has now grown into a global phenomenon.

Managed by Gami Theme Park, the show features cultural performances to promote Hoi An’s rich history and culture.

Delivering their opening act less than a year ago, the 500 performers in the show have already attracted 500,000 visitors from around the world.

With visitor numbers rising from an initial 50 per night to 1,000 within a year’s time, Vietnamese officials are using this successful show as an example for future tourism projects.

“Hoi An Memories is a new tourism product that will help increase the length of stay of international as well as local tourists. Quang Nam province will put such products into mainstream tourism promotion programs and encourage businesses to invest in developing similar products in the province,” said Ho Tan Cuong, Deputy Director of Quang Nam Department of Culture, Sports and Tourism.

Just how captivating is Hoi An Memories?

“The most beautiful in the world” and “A feast for the eyes” is how some of the audience described the performance where the skilled dancers give the audience a glimpse of how Hoi An developed from a small farming village into a vibrant tourists’ destination, using breath-taking effects, detailed props and intricate and expressive choreography.

Adding to the grandeur of the performance is the 25,000 m2 stage, the biggest outdoor stage in Vietnam, that has been built on a natural island on the Thu Bon River.

Moving forward, the show organiser is expecting the number of visitors to skyrocket to two million in 2019 with tourists from Vietnam, Korea, China, Japan, Taiwan, Thailand, and Hongkong. To accommodate the drastic rise, the number of shows will be increased to two per night starting from April 26, 2019. Visitors who are scheduled to watch Hoi An Memories from March 20th onwards will also be treated to a newly revised spectacle as the organiser releases the third time revised show with improved art, sound and lighting.