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Malaysia’s Cloudaron to acquire realtors8 for US$3.2 million

Cloudaron
Malaysia’s Cloudaron to acquire realtors 8 for US$3.2 million

Ubertor

Cloudaron Group, a cloud service company based in Kuala Lumpur has entered into an agreement with ASX-listed 8common Limited for the acquisition of its subsidiary firm realtors8, for SGD4.23 million (about US$3.2 million)

The transaction is expected to be completed by the second quarter of 2018 where realtors8 will become a wholly-owned subsidiary of Cloudaron.

The main reason behind the acquisition is Ubertor, a SaaS product under the ownership of realtors8. It allows real estate agents to create personalized digital stores to list their properties for rental and sales.

Ubertor’s syndication and online marketing tools enable realty companies to generate traffic, leads and manage relationships with clients.

Cloudaron’s Managing Director CJ Ong commented on the deal saying, “There are great synergies in how we can apply Cloudaron technologies to further enhance the product and geographic expansion to grow revenues.”

Ubertor recently launched its new platform in Canada and a new offering for the US market. This can give access and reach for Cloudaron, especially for its artificial intelligence-enabled chatbots designed to help customer websites.

“What used to be about attracting traffic to your website is now more about converting traffic to sales opportunities, our AI chatbots can chat with the prospective client, and set up sales meetings in real time, all without the intervention of the real estate agent. It’s their 24×7 virtual assistant,” said Ong.

With the Ubertor platform, Cloudaron can also deepen their product bench through delivering digital solutions to the property industry and other industries including those in the fintech space.

Based in Singapore and Sydney, 8common delivers productivity and performance software tools to enterprises and professionals. Its core markets are Australia and North America and its clients include government agencies, large corporates, multi-nationals and individual professionals.

8common’s other products include travel and expense management system expense8, and online surveying solutions suite platform8.

An Phat Holdings receives US$15.6 million investment from Valuesystem

An Phat Holdings, Valuesystem
An Phat Holdings receives US$15.6 million investment from Valuesystem

An Phat Holdings, Valuesystem

22/2/2018 – An Phat Holdings, a plastic and packaging producer in Vietnam announced yesterday that it has secured an investment of VND 353 billion (about US$15.6 million) from Korea’s asset management company Valuesystem.

The funding is part of the company’s plans to raise US$200 million to support its growth over the next few years, in order to achieve the ambitious target of achieving US$1 billion revenue by 2025.

Last year, the plastic producer’s revenue reached over VND 4 trillion (about US$176 million), while its profit after tax is VND 264 billion (about US$11.6 million).

In the plan to achieve US$1 billion revenue, An Phat’s General Director Dinh Xuan Cong said the company will use the proceeding to expand its manufacturing capacity and invest in technology improvement.

“An Phat will focus on expansion plans to build new factories, research, and development of hi-tech plastic products, high-quality large-size textile packages for use in the pharmaceutical and food industries, as well as continuing to develop high-quality green products,” explained Dinh Xuan Cong.

Founded in 2003, An Phat Holdings is one of the leading plastic producers in Vietnam, with a monthly finished production output of 8000 tons. This makes it the largest manufacturing and exporting plastic packaging company in Southeast Asia.

An Phat Holdings currently owns 32 percent of An Phat Plastic (AAA) and 25 percent of Vinh Plastic Bag (VBC) and is valued at US$143 million.

On the other hand, Valuesystem is a fund management company with nine years of experience in the Korean market. It developed an online asset management system based on AI technology, known as Aibo Robo advisor.

Commenting on the deal, Jung Hwanjong, the CEO of Valuesystem said, “We do believe this investment will generate good profit, generating more confidence for Korea investors, opening a wide door for Valuesystem to overseas market.”

The investment in An Phat is the first international funding by the US$100 million fund managed by Valuesystem.