Singapore Corporate News - 5 Dec 2007

Best World Int'l acquires Chinese direct selling firm

BEST World International is buying a direct selling business in China for a net $3.9 million, just months after it set up its own subsidiary there.

Best World, which sells health supplements and skincare products in Asia through direct-selling networks, said that it will take a 51 per cent stake in a Chinese direct-selling business called Joymain.

LG to sell OSIM products at its stores in South Korea

OSIM is strengthening its reach in the South Korean market by tying up with LG International Corporation to market and sell its products at LG's stores.

OSIM Korea, an affiliate of OSIM International Ltd, has a sales and distribution agreement with LG International Corporation - a unit of the LG Group of companies - for the South Korean market.

A range of OSIM's healthy lifestyle products such as its massage chairs and fitness equipment will be co-marketed and sold by LG in Korea. Currently, there are around 200 LG electrical appliances stores, and OSIM said it aims to have its products in as many stores as possible.

CapitaLand to expand into offices in Vietnam

CAPITALAND could double the number of homes it is building in Vietnam to about 6,000 units in the next three years - from about 2,800 homes now - chief executive Liew Mun Leong told reporters in Vietnam yesterday.

The Vietnam market also presents opportunities for CapitaLand to expand beyond its present service apartment and residential portfolio to include offices, retail and integrated leisure, entertainment and conventions projects, Mr Liew said.