Dymon Seals Deal With HSL

24 March 2014, Singapore – Dymon Asia Private Equity (DAPE), invested S$15million into proven and promising HSL Constructor, a Singapore marine civil engineering and construction firm.

DAPE is an arm of Dymon Asia Capital, a Singapore-based investment management company which manages approximately US$3.3 billion in assets.  DAPE has a target fund size of S$300 million and a mandate to invest in promising small-and-medium-sized enterprises (SMEs) in Singapore and in other South-east Asian countries.  Heliconia Capital Management, wholly-owned by Temasek Holdings, had seeded S$100 million into the fund.

The agreement was signed at HSL’s new 372,000 square-feet headquarters in Penjuru Road, which positions the company for future growth.  Keith Tan, founding partner of Dymon Asia,  said, “We are attracted to HSL because it has a strong track record, vivid vision, plausible plans and staunch social strategy.  Not only is HSL’s financial status assuring, its growth plans are both promising and inspiring.  Although I have known them since 2002, it still took us close to one year to court them.  HSL has a reputation for its brand reliability in the region.  They are very prudent and practical in terms of partners selection.  We are looking forward to partner HSL in its future growth plans”.

(from top left) : HSL Chairman Lim Choo Leng welcoming Dymon’s founding partner Keith Tan onto the HSL Board;
The HSL directorate lining and gearing for an upward march; 
Keith tossing the ball to HSL CEO Charles Quek for a sneak peek at the latter’s range of skills in the Slamdunk room at the new HSL HQ.

HSL runs foreshore and ground engineering projects across the region including Myanmar, India, Indonesia, Malaysia, Vietnam and Brunei.  Its revenue surpassed SGD130 million in 2013.  Amongst its marine fleet is the largest state-of the-art piling barge in Southeast Asia which was launched last year.  Over recent years, HSL has been identified by several government agencies as a Globally Competitive Company (GCC).

HSL’s newly-appointed Chief Executive Officer, Charles Quek, shared, “The investment by Dymon reflects its credit and confidence in the way we have gone about doing our business and inching closer towards our vision – a greater HSL for a better world.  Sustainable growth is key to that vision.  Making profits is the lesser challenge if we continue to be dedicated, adaptable, innovative and sincere.  We reckon the greater challenge is meeting the higher calling of how we treat those profits purposefully.  It is flattering for HSL to be approached by one of Asia’s leading hedge funds.  Escalated expectations would require exceptional actions.  With a seat on HSL’s board of directors, Dymon brings along its wealth of network and experience which would help enhance HSL’s continuing growth”. 

In 2012, HSL became the first Singaporean company here to be awarded the ISO 50001 certificate which focuses on energy management standards.  The ISO 50001 is not merely an effective energy management system which helps companies improve their energy efficiency and costs-saving, it also significantly minimises the impact of their operations on the environment, as part of corporate social responsibility.  In addition, HSL is actively well on its heels in adopting the ISO 26000 guidelines on corporate social responsibility (CSR) and sustainability.

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