Deal Desk
M&A deals, 9 October 2026
· 5 deals
Our view: this week's deals show regional and international buyers paying for local footholds in Singapore and Southeast Asia, often through majority stakes, share consideration and earn-out style protections rather than clean full exits.
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Singapore · Telecommunications
StarHub to acquire MyRepublic's mobile business in Singapore
On 8 October 2026 StarHub announced it will acquire MyRepublic's mobile business in Singapore, keeping the distinct MyRepublic Mobile brand and proposition, with customers staying on their current plans. Completion is subject to the fulfilment of the applicable conditions precedent by both parties, and the deal follows StarHub's earlier investment in MyRepublic Broadband in 2021.
The Growth Alliance Capital view
an incumbent buying a challenger it already knows, and keeping the challenger's brand, shows that strategic buyers in Singapore will pay for a customer franchise and a distinct proposition, not just for assets. Founders of niche consumer brands in mature domestic markets should expect consolidators to arrive through an existing commercial relationship first, so that relationship is worth managing as a future exit route.
Source: StarHub
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Global · Recruitment and talent solutions
Sanderson acquires Nicoll Curtin operations across six countries including Singapore
Sanderson has acquired Nicoll Curtin's operations in the UK, Ireland, Switzerland, Serbia, Singapore and the Philippines, according to an announcement dated 1 October 2026. Sanderson said the deal strengthens its presence in Singapore and Ireland, widens its European footprint into Switzerland and adds service centres in Serbia and the Philippines.
The Growth Alliance Capital view
a UK buyer acquiring Singapore and Philippines operations as part of a multi-country package shows that Singapore service businesses are often bought as a regional platform within a larger deal. Founders of specialist people businesses should be able to show which client relationships and delivery capability sit locally, because that is what an international acquirer is pricing.
Source: Sanderson Plc
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Singapore · Food · about $5.5 million (roughly Rs 45.8 crore)
NHC Foods unit signs letter of intent for 75% of Singapore's DNR Ventures
NHC Foods Ltd, through its foreign step-down subsidiary Conquer Enterprises Ltd, has signed a non-binding letter of intent to acquire 75% equity in Singapore-based DNR Ventures Pte Ltd for about $5.5 million, roughly Rs 45.8 crore. The transaction is still at the letter of intent stage.
The Growth Alliance Capital view
listed Indian groups buying majority, not full, stakes in Singapore companies are a structure that lets founders sell control while keeping a minority stake and a role. A non-binding letter of intent is only the start, so founders should treat headline numbers at this stage as a ceiling that due diligence will test.
Source: Goodreturns
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Southeast Asia · Technology distribution · NZD $138.0 million (about AUD $111.8 million)
Dicker Data agrees to buy Sektor Group, adding Thailand and Malaysia operations
Dicker Data has entered a binding agreement to acquire 100% of Sektor Group for NZD $138.0 million, or about AUD $111.8 million, on a cash-free, debt-free, normalised working capital basis, funded by an extension of its existing debt facilities. Sektor, established in 2009, operates in Australia, New Zealand, Thailand and Malaysia with about 230 employees, including around 60 in Thailand and Malaysia, and completion is expected by the end of October.
The Growth Alliance Capital view
an Australian distributor using an acquisition rather than a greenfield start to enter Southeast Asia shows that a local team and existing vendor relationships carry real value to buyers from outside the region. Founder-led distributors in Thailand and Malaysia with clean, transferable supplier agreements are exactly the kind of foothold these buyers look for.
Source: IT Brief Australia
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Southeast Asia · Construction · RM81.6mil
GDB Holdings proposes RM81.6mil purchase of 51% stakes in two construction firms
GDB Holdings Bhd proposes to acquire a 51% equity interest each in Bina Tegas Sdn Bhd and BT Borneo Engineering Sdn Bhd for a total of RM81.6mil, paid as RM40.8mil in cash and 96.91 million new GDB shares at 42 sen each. The vendors guarantee a cumulative profit after tax of at least RM45mil for July 2026 to December 2028, and GDB's total order book would rise to RM741.81mil after the acquisition.
The Growth Alliance Capital view
half cash, half shares, a 51% stake and a profit guarantee is a common way for listed buyers to acquire founder-led businesses while keeping the vendors invested in the result. Founders offered this kind of deal should judge the guarantee period and the value of the buyer's shares as carefully as the headline price.
Source: The Star
Deal Desk summarises publicly announced transactions from the sources linked. "The Growth Alliance Capital view" is our opinion, not investment advice, and implies no involvement in any transaction mentioned.