Press Release
GS Holdings to Acquire Integrated Beverage Solutions Group, Octopus Distribution Networks, for S$11.8 Million
Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits. Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry. The Group recently completed a rights issue that was oversubscribed with net proceeds of S$8.4 million raised for future expansion and working capital.
On the left: Independent and Non-Executive Chairman of GS Holdings Limited, Mr Irwin Lim
On the right: Founder and Chairman of Octopus Distribution Networks Pte. Ltd., Dato Elaine Teh
SINGAPORE, 23 October 2024 – GS Holdings Limited (“GS Holdings” or the “Company” or “伟盛有限公司” and together with its subsidiaries, the “Group”), is pleased to announce that the Group has signed a binding agreement to acquire Octopus Distribution Networks Pte. Ltd. (“Octopus Distribution Networks”), a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million.
GS Holdings’ Independent and Non-Executive Chairman, Mr Irwin Lim Kee Way, said, “We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to new customer base and operating scale within the beverage sector in Singapore’s F&B industry.
Led by Dato’ Elaine Teh, the team at Octopus Distribution Networks has built an exceptional business enterprise that is dedicated to operational excellence and customers satisfaction for over 13 years.
With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets.
I trust this next step in our journey together will be incredibly positive for the Group.”
Octopus Distribution Networks’ Founder and Chairman, Dato’ Elaine Teh, added, “Today’s announcement marks a major step forward in our growth ambitions within the region’s F&B industry.
With the combined expertise, experience and resources, we will continue to build strong relationships with our customers and delivering value that consistently exceed expectations.
Together with GS Holdings, we are excited about accelerating the growth of our businesses and delivering results for years to come.”
Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits
Founded in 2011 by serial entrepreneur Dato’ Elaine Teh Chooi Peng (“Dato’ Elaine Teh”), Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions group in Singapore, providing a “one-stop” solutions hub, in the area of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.
For customers, Octopus Distribution Networks represents an extensive portfolio of globally recognised beverage brands with various exclusive distribution rights. Currently, Octopus Distribution Networks has a product portfolio of more than 1,500 SKUs across approximately 200 beverage brands from 50 global brand owners. Octopus Distribution Networks also provides customised services that cater to the demands of both corporate and individual clients.
For beverage brand owners, Octopus Distribution Networks has become a trusted partner and a preferred beverage distributor in Singapore with a comprehensive distribution network comprising strategic distribution centres and third-party wholesalers in Singapore. With a deep understanding of the Singapore market, Octopus Distribution Networks also provides other value-added services, including market expansion strategies and customer engagement solutions, that aims to enable brand owners to quickly build brand loyalty and market share in Singapore.
Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry
Under the acquisition agreement, Dato’ Elaine Teh will become a controlling shareholder of GS Holdings and it will also bring on a professional management team with 80 years of collective experience in the beverage distribution industry to the Group.
Dato’ Elaine Teh is a serial entrepreneur with an accomplished business track record in various business ventures in Singapore, Malaysia and Australia.
Besides her current role as Founder and Executive Chairman of Octopus Distribution Networks, Dato’ Elaine Teh also holds multiple executive-level roles in various companies in different countries.
She is a Non-Executive Director of ASX-listed Australian Vintage Ltd, a leading Australian wine and drinks company, where their diversity of regions, broad portfolio of global brands, production capabilities and established winemaking pedigree have resulted in its brands being recognised and available in over 40 countries. Dato’ Elaine Teh is also the Founder & Executive Chairman of Etagreen Group in Malaysia, which is the owner and operator of a zero-waste biomass power plant in Perak, Malaysia, with assets of more than RM140 million.
In addition to her business roles, Dato’ Elaine Teh is actively involved in various business councils that nurture women entrepreneurs, promote gender diversity and inclusion, develop greater business collaborations and engagement with government agencies. Philanthropy is also something Dato’ Elaine Teh holds close to her heart, and she has generously facilitated several community building causes and initiatives across Southeast Asia with her time and resources.
Supporting Dato’ Elaine Teh as part her management team at Octopus Distribution Networks is Managing Director, Mr Matthew Ruscoe, who has been a trailblazer in Asia’s F&B and marketing industry for more than 12 years. With deep industry experience and strong regional network from his previous roles as the Regional Sales Director of Kerry Group and the Sales Director of Carlsberg Myanmar, Matthew undertakes a pivotal role in managing Octopus Distribution Networks’ marketing activities, supply chain operations and driving its strategic initiatives forward.
None of the Directors or substantial shareholders of the Company, as well as their respective associates, has any direct or indirect interest in the transaction stated here, other than through their respective shareholdings (if any) in the Company.
About GS Holdings Limited
(Bloomberg Code: GSHL:SP / Reuters Code: GSHO.SI / SGX Code: 43A)
GS Holdings Limited (“GS Holdings”) was incorporated in Singapore on 19 September 2014 and listed on Catalist on 18 January 2016.
With an aim to diversify its business model and create additional streams of income, GS Holdings has expanded into various business ventures in the food and beverage (“F&B”) industry. To harness its growth opportunities, GS Holdings is looking to further expand its brand presence across Asia and beyond via new franchising, licensing and distribution models.
For more information, please visit https://gsholdings.com.sg/.
This press release is to be read in conjunction with the Company’s announcement released on 23 October 2024, which can be downloaded via www.sgx.com.
Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.
Media Contact:
Company Name: 8PR
Contact Person: Alex Tan
Email: alex.tan@8prasia.com
Country: Singapore
Website: https://gsholdings.com.sg/
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
340Bwell Presents the latest research for Optimizing STD Clinics at Global HIV and AIDS Conferences
Austin, Texas, United States, 21st Nov 2024 – 340Bwell, a leader in the 340b consulting and solutions, presented their cutting edge research in two major global HIV/AIDS conferences – HIV4Prevention Conference held in Lima, Peru; and Fast Track City Conference held in Paris, France.
Building upon the foundation of promoting evidence decision making within the organization and among its clients – that includes leading STD clinics of the United States – 340bwell team used regular client demographic and clinical data to uncover a diverse range of findings.
In the Fast Track City Conference, the Bwell team presented a poster that highlighted the paucity of research on PrEP retention in the global south. The poster was the outcome of a systematic review being conducted by the team that examines PrEP retention and analyses the way researchers and practitioners measure it and define it. The poster revealed that the majority of the studies (>50%) were in the United States. The other two countries with a relatively large number of studies were South Africa (14.2%) and Kenya (12.5%). Bwell Managing Partner Mark Erwin also delivered a presentation on a novel telehealth model for PrEP service delivery that deployed an in-house assembled testing kits to save on cost and to expand access.
In the HIV4Prevention Conference, two posters were presented. The first focussed on the science and dynamics of appointment scheduling – demonstrating that the association between client showing up and day of appointment, time slot, chosen, and if the appointment was in-clinic or telehealth was statistically significant. The second poster aimed to test the accuracy of a model that could predict if the client will show up or not using machine learning – deploying routine data.
Considering that The United States’ PrEP clinics have high no-show rates and not only do cancellations or no-shows result in lost opportunities to connect patients to PrEP therapy, but they also waste clinic time and resources – these findings and models can influence the way clinics can optimize their resources.
Mark Erwin, the managing partner of the company said “We are excited to present evidence generated by our team at such esteemed global platforms and at the same time, learn from researchers across the world. It is truly a joyful experience to be around HIV/AIDS advocates and scientists with the common goal of reducing the impact of HIV for those who live with it or are vulnerable to it.”
About 340Bwell:
340Bwell is a consulting firm specializing in optimizing 340B drug pricing programs for HIV and STD clinics. They use data-driven strategies to improve patient outcomes, clinic efficiency, and care access. Their innovative solutions have been presented at global HIV/AIDS conferences. 340Bwell is committed to advancing healthcare for underserved populations.
For more information visit https://340bwell.com/
Media Contact
Organization: 340bwell
Contact Person: Harsh Agarwal – Data Scientist
Website: https://340bwell.com/
Email: harsh@340bwell.com
Contact Number: +19199031531
City: Austin
State: Texas
Country: United States
Release Id: 21112420055
The post 340Bwell Presents the latest research for Optimizing STD Clinics at Global HIV and AIDS Conferences appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Industry Titans Join Forces to Revolutionize Fintech Automation and Decentralized Infrastructure
In a landmark partnership, Clever Tech, a global leader in advanced AI-driven solutions, and NebulaNet, a trailblazer in decentralized cloud computing, have announced a strategic collaboration aimed at redefining the fintech industry. By combining cutting-edge machine learning, natural language processing, and next-gen cloud computing, the partnership promises to set a new standard for automation and innovation in financial technology.
Driving Innovation at Scale
Clever Tech and NebulaNet are no strangers to transforming industries. With Clever Tech’s reputation for building real-time, context-aware decision-making engines and NebulaNet’s pioneering work in decentralized storage solutions, the collaboration is set to tackle some of fintech’s most pressing challenges, including operational inefficiency, data security, and scalability.
“Clever Tech and NebulaNet are two of the most influential forces in tech today, and this partnership is about more than advancing fintech; it’s about creating an entirely new foundation for how financial systems operate,” said Erik, CEO of Clever Tech.
Key Goals of the Partnership
This collaboration will focus on two critical areas of the fintech ecosystem:
- Automation-First Financial Systems: By leveraging Clever Tech’s AI-driven decision engines, the partnership will introduce unparalleled automation to financial services, enabling real-time, personalized decision-making in areas like loan processing, fraud detection, and customer support.
- Decentralized Infrastructure for Fintech: NebulaNet’s decentralized cloud computing solutions will be integrated to create secure, scalable, and cost-effective infrastructure for financial institutions, empowering them to store and access sensitive data with unmatched efficiency and reliability.
“Our vision is to provide the fintech industry with the tools it needs to thrive in a rapidly evolving digital landscape. Decentralized infrastructure is the key to ensuring resilience and scalability, and together with Clever Tech, we’re unlocking its full potential,” added Nelson, Founder and CTO of NebulaNet.
Big News: A Revolutionary Fintech Operating System
As part of this partnership, Clever Tech and NebulaNet are co-developing a first-of-its-kind Fintech Operating System (FinOS). This platform will serve as an all-in-one ecosystem for financial institutions, combining AI-powered automation with decentralized cloud infrastructure.
FinOS will enable institutions to:
- Streamline Operations: Automate decision-making processes for faster, more accurate results.
- Enhance Security: Utilize NebulaNet’s decentralized storage to safeguard sensitive data.
- Scale Seamlessly: Leverage elastic, decentralized computing to adapt to changing demands without downtime or inefficiency.
A Partnership That’s Built to Last
Both companies are committing significant resources to the partnership, including a joint R&D initiative and the establishment of a shared innovation lab. With a combined investment of $100 million over the next three years, this collaboration underscores both companies’ commitment to pushing the boundaries of what fintech can achieve.
About Clever Tech
Clever Tech is a global leader in artificial intelligence and advanced decision-making systems. With a proven track record of delivering cutting-edge solutions across industries, Clever Tech empowers businesses to make smarter, real-time decisions using the latest in machine learning and natural language processing.
About NebulaNet
NebulaNet is a next-generation cloud computing platform specializing in decentralized storage and computing solutions. Recognized for its innovative approach to secure and scalable infrastructure, NebulaNet supports industries worldwide in unlocking the power of decentralized technology.
For media inquiries, please contact:
Company Name: ClevrTech
Contact person: Joshua
Contact Email: support@clevrtech.com
City: Singapore
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Global Investment Leaders Unite to Launch $15 Million Fund for Blockchain and Fintech Innovation
Three powerhouse firms in financial advisory, venture capital, and global investments have joined forces to create a $15 million fund aimed at driving innovation in blockchain and fintech. This unprecedented partnership brings together industry titans with a shared mission to reshape the financial technology landscape and foster the next wave of transformative solutions.
A Unified Vision for Blockchain and Fintech Growth
The newly formed fund will focus on early-stage startups leveraging blockchain and fintech solutions to enhance efficiency, accessibility, and sustainability across industries. Each partner brings a unique perspective and strength to the initiative, making this venture a beacon of innovation and collaboration.
- WealthWise Partners brings its deep understanding of financial markets and consumer-focused strategies to the table. Known for empowering clients with smarter financial decisions, WealthWise will guide the fund’s focus on technologies that simplify financial management and improve transparency for end users. “Our mission has always been to make finance accessible. By supporting blockchain and fintech startups, we are enabling technologies that will democratize financial opportunities for millions,” said Frank, CEO of WealthWise Partners.
- Arbor Ventures, renowned for its commitment to sustainability and technology innovation, will lead the charge in identifying startups that align with sustainable development goals. With a proven track record in nurturing early-stage ventures, Arbor Ventures aims to integrate blockchain’s potential with green initiatives. “Sustainability and technology are no longer separate goals. Blockchain and fintech innovation can drive efficiencies in supply chains, energy systems, and beyond, making sustainable progress achievable at scale,” commented Maddie, Managing Partner at Arbor Ventures.
- InnovateInvest Capital, a global leader in infrastructure and technology investments, will harness its expertise in scaling long-term growth opportunities. With its focus on impactful and sustainable returns, InnovateInvest Capital will support startups that demonstrate robust potential to transform global financial and technology landscapes. “John,” Chief Investment Officer at InnovateInvest Capital, stated, “We see blockchain as the backbone of the next digital economy, and fintech as its enabler. Our role is to identify the projects with the vision and capability to shape this future.”
Focus Areas and Strategic Approach
The fund will prioritize investments in startups developing solutions in areas such as decentralized finance (DeFi), blockchain-enabled payment systems, regulatory technology (RegTech), and sustainable digital infrastructure. By fostering innovation in these areas, the collaboration aims to:
- Empower underserved communities by enhancing access to financial tools and resources.
- Drive transparency and security through blockchain’s immutable ledger capabilities.
- Promote global sustainability with tech solutions that optimize energy use and resource management.
The partners have committed to an inclusive and collaborative approach, working closely with portfolio companies to provide mentorship, market access, and scalability strategies.
A Shared Commitment to Transformative Change
The $15 million fund will target startups in critical areas such as decentralized finance (DeFi), blockchain-enabled payment systems, regulatory technology (RegTech), and sustainable digital infrastructure. By aligning their resources and expertise, these firms are committed to:
- Driving Financial Inclusion: Supporting technologies that broaden access to financial services for underserved communities.
- Building a Sustainable Future: Investing in innovations that optimize energy use and promote environmentally friendly solutions.
- Advancing Transparency and Security: Leveraging blockchain’s inherent capabilities to enhance trust and accountability across industries.
Strategic Vision for Sustainable Innovation
This collaboration underscores the growing importance of partnerships in scaling breakthrough technologies. By pooling their resources and leveraging their global reach, the partners aim to not only fund but also mentor startups, providing access to invaluable expertise, networks, and markets.
“This fund represents more than just an investment—it’s a vision for the future of finance and sustainability,” commented John, speaking on behalf of the partnership. “Together, we are empowering innovators to solve real-world challenges and create value for businesses and communities alike.”
Looking Ahead: A Transformative Opportunity
This initiative signals a shift in how blockchain and fintech are approached by leading players in the financial world. By harnessing the combined power of financial advisory, venture capital, and large-scale investment, these firms are poised to set a new benchmark for collaboration in fostering meaningful, technology-driven change.
For additional details about the fund or partnership, please contact:
Company Name: WealthWise Partners
Contact person: Benjamin
Contact Email: support@wealthwise.homes
City: Singapore
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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