China First Capital Group acquires financial advisory firm Stirling Coleman Capital

SINGAPORE - A wholly-owned unit of Hong Kong-based China First Capital Group, CFCG Investment Partners International (Singapore), has bought over all of the shares of Stirling Coleman Capital for an undisclosed sum.

The move comes as CFCG has pursued a diversification direction in recent years, through the collaboration of its financial services business units, with the business focus on education and investment, to create a platform of operation, investment and financing in the education sector, announced CFCG in a statement on Wednesday (July 5).

Since the second half of 2016, the group has more actively developed overseas markets, with CFCG Singapore starting operations on August 1 last year.

"The acquisition of Stirling Coleman has represented a new chapter for the group to commence financial business in Singapore," added CFCG.

Founded in 2001, Stirling Coleman is an independent corporate finance advisory firm. It is headquartered in Singapore, with representative offices in Shanghai, Tokyo, and Bangkok, and its chairman is Mr Keith Tay Ah Kee, a former independent director at Singapore Post.

Licensed by the Monetary Authority of Singapore to conduct regulated financial activities in dealing in securities and advising on corporate finance in Singapore, Stirling Coleman's services include initial public offerings (IPOs) and follow-on offerings on the Singapore Exchange (SGX), independent financial advisory for Singapore-listed companies and advice on mergers and acquisitions of both listed and private companies in and outside Singapore.

The firm has successfully completed the IPOs of 28 companies on the SGX since November 2003, including 22 companies from Greater China, and has completed more than 100 transactions to date.

"Since the concept of economic cooperation under the 'Belt And Road' national strategic directive and first introduced in September 2013, the development direction has become clearer and more sophisticated. With the full support and avocation of Chinese Government and many other countries in the world, business participation has been growing," said Mr Yan Haiting, president and executive director of CFCG.

" In light of this, the group has extended its financial services platform to South-east Asia. We believe, Singapore, as a major international financial centre, is the gateway to enter the strategic financial and capital market of South-east Asia."

Mr Yan said the group expects the trading, financing and other activities of capital markets in China, Hong Kong and Singapore to become more frequent and create business opportunities for the market,thereby attract quality assets from Northern Asia to capital markets in Singapore and South-east Asia, and increasing cross-border mergers and acquisitions activities across Asia.

"Stirling Coleman has an excellent track record and has established a famous and respected brand in Singapore. Therefore, this acquisition provides a direct platform enabling the Group to rapidly and directly access the Singapore equity capital market and provide related financial services and offerings," he said.

tsjwoo@sph.com.sg