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Forging different paths: S’pore SMEs eye M&As to stay ahead as founders retire; others start afresh
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Huationg Holdings founder Lee Chin Tiong (left) with Mr Kohki Uemura, chief operating officer of Japan's Denzai Holdings, which took a 71 per cent stake in Huationg in 2020.
PHOTO: NIHON M&A CENTER SINGAPORE
SINGAPORE – Increasing numbers of smaller firms in Singapore are exploring buyouts or mergers as their founders near retirement age and seek ways to put their companies on a viable footing for the future.
There were 343 mergers and acquisitions (M&As) involving small and medium-sized enterprises (SMEs) in 2023, up 55 per cent from the 222 in 2022.
