Temasek unit takes stake in Singapore maker of eco-friendly bathroom products
Published on Mar 13, 2014 11:28 AM
Temasek Holdings' wholly-owned unit Heliconia Capital Management has taken a stake in Rigel Technology, a Singapore firm that designs and makes green restroom and bathroom products.
Rigel did not disclose the value of the investment but said Heliconia would have a "significant minority position" in the company, which was set up in 1991 and has offices in Malaysia, China and Vietnam.
In a press release on Thursday, Rigel said it will use the investment proceeds to build up its product innovation, research and development, manufacturing and regional sales capabilities.
"Our partnership with Heliconia is a significant milestone in our growth story. As a home-grown SME (small or medium-sized enterprise), we are delighted that our new partner will be joining us as we continue to expand regionally and fly the Singapore flag all across the world," said Rigel's managing director Christopher Ng.
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