Daily Update: SK Bioscience Secures Korea Growth Fund Backing; Omniscient Raises Series D Funding; Sagtec Acquires Stake in Malaya Heritage; Click Holdings Buys HK HR Tech Firm; Singtel Signs S$1.5B Credit Facility; Wilmar Expands Loan Facility; Mooreast Plans S$5M Placement; Thakral Expands Gurugram Project Stake; CLAS to Sell Singapore Hotel; Volant Aerotech Raises US$136M in Series C+ Round

SK BIOSCIENCE TO RAISE US$ 230 MILLION FROM KOREA GROWTH FUND

South Korea based SK bioscience, a vaccine and biotech company, Friday said it will secure KRW 300 billion (approximately US$ 230 million) in long-term, low-interest financing through the Korea Growth Fund program. 

The funds will be utilized for R&D, commercialization preparation, and manufacturing capability enhancement for ‘GBP410,’ SK bioscience’s and Sanofi’s 21-valent pneumococcal conjugate vaccine candidate currently undergoing global Phase 3 clinical trials.

The Korea Growth Fund is a public-private policy financing initiative established to foster strategic industries such as AI, semiconductors, biotechnology, and secondary batteries. 

Structured as a citizen-participation investment fund, it aims to provide long-term capital to future growth industries. The government has prioritized support for globally competitive large-scale projects, including next-generation biopharmaceutical and vaccine development programs in global Phase 3 clinical stages.

In addition to GBP410, SK bioscience is expanding its infectious disease-focused pipeline, including universal COVID-19 vaccines, microneedle patch influenza vaccines, RSV preventive antibody therapeutics, and mRNA vaccine platforms. 

Jaeyong Ahn, CEO of SK bioscience said, “Being selected as a beneficiary of the Korea Growth Fund reflects recognition of our vaccine development capabilities and global business competitiveness. We will continue investing in key pipeline development and manufacturing infrastructure to strengthen Korea’s vaccine sovereignty and enhance preparedness for future infectious disease outbreaks.”

OMNISCIENT SECURES $27.2M SERIES D TO ACCELERATE COMMERCIALIZATION OF AI-ENABLED BRAIN TECHNOLOGY

Australia-based Omniscient, a player in AI-driven brain analysis technology, Friday said it has secured $27.2 million (AU$41.1 million) in an oversubscribed Series D funding round. 

The round is co-led by OIF Ventures and the Australian National Reconstruction Fund Corporation, with continued support from long-term investors including Will Vicars and Gina Rinehart AO.

The capital will accelerate commercial expansion of Omniscient’s Quicktome platform and the development of new clinical applications, extending the company’s reach into markets like brain computer interface (BCI), stroke, and movement disorders, the company said. 

Omniscient’s connectomics technology uses AI to decode the wiring of each individual’s brain. Their FDA-cleared Quicktome platform generates patient-specific connectomic maps that visualize functional regions and the neural pathways that are responsible for language, movement, and cognition — giving clinicians insights that may help avoid neurologic complications and improve outcomes across the neuro care continuum.

“AI lets us turn the vast complexity of the human brain into clear, actionable intelligence,” said Stephen Scheeler, CEO of Omniscient. “This funding scales that capability, bringing AI-driven precision brain medicine to patients, physicians, and partners in the US and worldwide.”

The Series D funding will support two strategic pillars. “Accelerating market penetration, scaling specialized sales and clinical support staff to service a fast-growing roster of major US healthcare networks. Expanding market reach and fueling the development of next-generation brain AI tools to reach untapped markets,” the company said.

SAGTEC GLOBAL ACQUIRES 40% STRATEGIC STAKE IN MALAYA HERITAGE HOLDING

Malaysia-based publicly held Sagtec Global (NASDAQ: SAGT), a provider of technology solutions for the food and beverage industry, Friday said it has entered into a definitive investment agreement to acquire a 40% equity interest in Malaya Heritage Holding, a Malaysian F&B group with restaurant operations and expansion plans.

Sagtec said this transaction forms part of its strategy to expand its  F&B technology ecosystem by partnering with and investing in operating restaurant businesses that can benefit from its  technology platforms, digital infrastructure and AI-driven solutions.

Based on management’s current projections and business plans, the transaction is expected to contribute approximately US$4 million in revenue opportunities to the Sagtec group.

Sagtec added that Malaya Heritage has expressed its intention to pursue a public listing in 2027, subject to market conditions, corporate readiness and regulatory approvals. 

Sagtec believes its strategic investment positions the Company to participate in the future growth and potential value appreciation of Malaya Heritage as it progresses through its corporate development plans.

CLICK HOLDINGS ACQUIRES HONG KONG CONSTRUCTION HR TECH COMPANY

Click Holdings, a Hong Kong based company in human resources and senior care solutions, Friday said it has made a strategic acquisition of 100% equity stake in another Hong Kong-based company specializing in digital HR solutions for the construction industry.

Click Holdings did not disclose the name of the target and financial details of the transaction. 

Click Holdings expects this acquisition and ongoing collaboration to rapidly scale the construction worker HR solutions segment. Within two years, it is projected to contribute over HK$50 million in annual revenue to the CLIK Group, establishing it as a meaningful and sustainable new growth driver alongside the Company’s flagship silver economy initiatives under the Care U brand.

Click said the target company operates an integrated platform that streamlines salary payments between construction workers and subcontractors, while incorporating attendance tracking, work records, and workforce management tools. 

“This solution tackles longstanding industry challenges such as delayed payments, inaccurate attendance records, labor disputes, and administrative inefficiencies—issues that are particularly acute in Hong Kong’s large and labor-intensive construction sector,” Click added.

Through this investment and strategic partnership, Click Holdings gains access to a database covering data on hundreds of thousands of construction workers across Hong Kong. 

Click Holdings will deploy its AI-powered job matching engine to deliver services, including talent sourcing, job placement, training referrals, compliance support, and other HR solutions—directly to the Target’s user ecosystem. 

In turn, the target company will leverage Click Holdings’ matching technology and network to enhance platform functionality, improve user retention, and accelerate growth.

This transaction represents Click Holdings’ entry into the construction worker HR solutions segment, one of Hong Kong’s most significant yet underserved labor markets. 

According to recent industry data, Hong Kong has over 110,000 manual workers engaged at construction sites (as of Q3 2025, per Development Bureau and Census and Statistics Department of Hong Kong), with hundreds of thousands of registered construction workers overall. 

The sector remains challenged by ongoing labor shortages, an aging workforce, and heightened demand for digital payroll and attendance systems, presenting opportunities for Click Holdings’ AI‑driven solutions to generate significant value.

“We see tremendous potential in bringing HR technology to Hong Kong’s construction industry,” said Jeffrey, CEO of Click Holdings. 

“By combining the Tech Company’s payment and attendance platform with our AI job matching capabilities and large-scale talent pool, we are creating synergies that will improve workforce productivity, ensure fair and timely compensation, and open a major new revenue vertical. Moreover, we have already built a human resources matching platform. Beyond serving construction workers, this platform enables us to expand horizontally into other high-demand, blue-collar sectors where Hong Kong faces acute shortages, such as security guards, domestic helpers, and various other manual labor roles. These are precisely the job categories where AI-powered matching can deliver immediate efficiency gains and scalability in the short term, allowing us to address broader labor market gaps and unlock additional growth opportunities across multiple industries.”

SINGTEL GROUP SIGNS A S$1.5 BILLION CREDIT FACILITY WITH BANKS

Singtel’s wholly-owned subsidiary, Singtel Group Treasury Friday said it has signed a three-year S$1.5 billion committed revolving credit facility with 11 banks. 

The credit facility has been offered by Australia and New Zealand Banking Group, (Singapore Branch), Bank of America, (Singapore Branch), China Construction Bank Corporation, (Singapore Branch), Citibank, (Singapore Branch), DBS Bank, Industrial and Commercial Bank of China, (Singapore Branch), Oversea-Chinese Banking Corporation, Standard Chartered Bank (Singapore) Limited, Westpac Banking Corporation, (Singapore Branch), The Hongkong and Shanghai Banking Corporation, (Singapore Branch) and United Overseas Bank. 

This facility is guaranteed by Singtel and will be used for general corporate purposes.

Mr Arthur Lang, Singtel’s Group Chief Financial Officer, said, “We are pleased to have completed this financing with our banking partners. The new credit facility reflects their continued confidence in the Singtel Group’s strategic direction, business fundamentals and credit quality.”

Singtel Group is a major connectivity, digital infrastructure and services group based in Asia, operating next-generation connectivity, digital infrastructure and digital businesses including regional data centre arm Nxera and regional IT services arm NCS. 

The Group has presence in Asia, Australia and Africa and reaches over 839 million mobile customers in 20 countries.

WILMAR UPSIZES SYNDICATED LOAN FACILITY TO US$1.8 BILLION

Singapore-based Wilmar International Friday said it has upsized its syndicated loan facility to $1.8 billion from the earlier target of $1.5 billion to partially accommodate the oversubscription. 

Wilmar said the this facility comprises two tranches: a 5-year revolving credit facility of US$1.4 billion and a 5-year term loan facility of US$360 million.

The Facility is arranged by Bank of China Limited, Singapore Branch, DBS Bank, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, Maybank Securities, Oversea-Chinese Banking Corporation and United Overseas Bank Limited, each acting as a mandated lead arranger and bookrunner (MLAB). 

The Facility is supported by a total of forty-eight lenders, including the six MLABs and forty-two participating lenders. HSBC is the solecoordinator and facility agent of the Facility.

The Facility which has been granted to Wii Pte, a wholly-owned subsidiary of Wilmar, is guaranteed by Wilmar. The Facility will be used to refinance existing debt and to finance general corporate and working capital requirements of Wilmar and its subsidiaries.

Commenting on the Facility, Mr. Charles Loo Cheau Leong, Deputy Chief Operating Officer and Chief Financial Officer of Wilmar, said: “This transaction enhances the Group’s funding flexibility and balance sheet resilience. We appreciate the continued support of our banking partners, which underscores their confidence in the Group’s management team and long-term strategy.”

Wilmar International is among the largest agribusiness groups in Asia with an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity business, from origination, to processing, branding, merchandising and distribution of a wide range of edible food and industrial products. 

The Group’s business activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, manufacturing of consumer products, ready-to-eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel and fertilisers as well as food park operations. 

It has over 1,000 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions.

MOOREAST HOLDINGS PLANS TO RAISE S$5 MILLION THROUGH PRIVATE PLACEMENT

Moorest Holdings, Singapore-based mooring solutions provider, Friday said it plans to raise S$5 million through a private placement process. ZICO Capital will be the placement agent and Maybank Securities is the sub-placement agent.

Mooreast said it plans to offer up little over 44 million shares at a placement price of S$0.135 for a maximum aggregate consideration of up to S$6 million.

The placement price of S$0.135 per placement share represents a discount of 2.03% to the volume weighted average price of S$0.1378 for trades done on the Shares on the SGX-ST from 22 May 2026, being the last full market day which the shares were traded prior to the trading halt called by the company on 25 May 2026 and up to the time of the Trading Halt.

The company said the proceeds will be used to strengthen its financial position and capital structure and will enable it to take on additional projects within its ordinary course of business, as well as to broaden its shareholder base and enhance the liquidity of the shares.

THAKRAL COMPLETES S$93.9 MILLION ACQUISITION OF ADDITIONAL 81.6% STAKE IN GURUGRAM MIXED-USE HEALTHCARE-LED DEVELOPMENT

SGX Mainboard-listed Thakral Corporation Friday said it has completed the acquisition of an additional 81.6% stake in TIL Investments for S$93.9 million, bringing its total ownership in the 21-acre Gurugram mixed-use healthcare-led development to 95.3%. 

The consideration of S$93.9 million was settled through S$50.0 million cash and the issuance of 24,217,108 new ordinary shares of Thakral at S$1.8128 each.

The site will be developed in phases, beginning with a hospital and wellness centre. The hospital is planned to be operated by an experienced healthcare partner, with Thakral participating as landowner and rental income to be based on a share of revenue. The residential component will be delivered with a third-party developer responsible for execution and sales, again on a revenue-sharing basis. 

The wellness centre is designed to complement the hospital and serve residents and working professionals in the wider Gurugram catchment where this healthcare facility is located, which is close to many of the newer residential clusters. Together, the hospital and wellness centre will anchor the site, with subsequent residential and commercial phases drawing on the catchment built around them.

CAPITALAND ASCOTT TRUST TO DIVEST THE ROBERTSON HOUSE BY THE CREST COLLECTION IN SINGAPORE FOR S$360 MILLION

CapitaLand Ascott Trust (CLAS) Friday said it is divesting The Robertson House by The Crest Collection in Singapore to an unrelated third party for S$360 million. The 336-unit hotel will be divested at 4.0% above book value and an exit yield of 2.3%.

The net proceeds from the divestment are S$341.7 million and CLAS will recognise a net gain of approximately S$38.1 million. The transaction is expected to be completed in 3Q 2026.

CapitaLand Ascott Trust is among the largest lodging trusts in Asia Pacific with an asset value of S$8.9 billion as at 31 March 2026. CLAS’ international portfolio comprises 106 properties with more than 19,000 units in 45 cities across 16 countries in Asia Pacific, Europe and the United States of America as at 31 March 2026. It is a wholly owned subsidiary of Singapore-listed CapitaLand Investment Limited, a global real asset manager with a strong presence in Asia.

Ms Serena Teo, Chief Executive Officer of CapitaLand Ascott Trust Management and CapitaLand Ascott Business Trust said: “The divestment of The Robertson House by The Crest Collection at an attractive price of close to S$1.1 million per key underscores CLAS’ disciplined approach to portfolio reconstitution. It further enhances CLAS’ financial flexibility, enabling us to redeploy the proceeds into higher-yielding properties, support our asset enhancement initiatives, repay higher-interest debt, and/or fund general corporate purposes. We will continue to pursue value-accretive opportunities in Singapore and other developed markets to strengthen the resilience of our portfolio.” 

Post-divestment, CLAS will have four lodging properties in Singapore. Three properties – Ascott Orchard Singapore, lyf one-north Singapore and lyf Funan Singapore – are operational. 

The fourth property, Somerset Clarke Quay Singapore, is currently underredevelopment. The 192-unit serviced residence with a hotel licence is on track to complete around end-2026 and is expected to begin contributing income progressively from early 2027.

Located in the heart of the Clarke Quay day-to-night lifestyle precinct, Somerset Clarke Quay Singapore offers direct connectivity to Fort Canning MRT station and dual frontages facing the scenic Singapore River and Fort Canning Hill, a key historic landmark ofSingapore.

In 1Q 2026, CLAS’ Singapore portfolio saw revenue per available unit growth of 2% year-on-year, driven by higher occupancy. Pipeline of asset enhancement initiatives and development projects provides capacity for future growth.

In addition to the redevelopment of Somerset Clarke Quay Singapore, CLAS has four properties undergoing asset enhancement initiatives in 2026 and 2027. Strategically located in key gateway cities, these properties are Citadines Place d’Italie Paris in France, The Cavendish London in the United Kingdom, Sotetsu Grand Fresa Osaka-Namba in Japan, and Sheraton Tribeca New York Hotel in the United States. The asset enhancement initiatives will enhance the assets’ positioning to better capture lodging demand and uplift their value.

VOLANT AEROTECH RAISES RMB 1 BILLION (US$136 MILLION) IN SERIES C+ ROUND

VOLANT Aerotech, a commercial passenger electric vertical takeoff and landing (eVTOL) player in China, Friday said it has raised RMB 1 billion (US$136 million) Series C+ financing round. 

The new capital influx will be primarily utilized to accelerate flight testing, advance airworthiness certification, and deepen industrial chain integration, paving the way for large-scale commercial operations.

The funding was led by China Life Investment. It saw participation from Minjin Investment (a Shanghai Minhang District state-owned platform), NIO Capital, CoStone Capital and existing shareholder China Internet Investment Fund (CIIF). China Renaissance and CYGNUS EQUITY acted as the financial advisors.

Over the past five years, VOLANT Aerotech has secured over RMB 5 billion through 13 rounds of market-driven financing.

Moving beyond traditional venture capital structures, VOLANT has strategically built a shareholder matrix spanning global strategic capital, national insurance funds, multi-level state-owned capital, industrial chain leaders, and VCs.