About this series
Building Asia is a collection of business stories on CNA that examines the financial forces driving Asia's position as an economic powerhouse.
Sunningdale – Moulding a global enterprise is the 12th episode in the Building Asia with UOB series and was first aired on 23 August 2021. It looks at how UOB helped Sunningdale grow its business through loan financing for its acquisition and expansion.
Khoo Boo Hor (CEO and Executive Director, Sunningdale Tech Ltd):
Sunningdale Tech is headquartered in Singapore. We provide turnkey precision plastic solutions for healthcare, automotive, consumer and IT industries. We operate in 18 manufacturing locations across Southeast Asia, China, India, Europe, the US and Mexico.
In 2014, we needed to acquire a Singapore moulding company – First Engineering. UOB provided financial support for this acquisition which expanded our customer base, product offering and our manufacturing footprint.
Leong Yung Chee (Head of Corporate Banking, UOB):
UOB was a lender for Sunningdale’s acquisition of First Engineering which was valued at US$80 million. This acquisition would transform them into a highly diverse and technologically advanced industry leader.
We were the first and sole bank to provide Sunningdale with a term loan for the construction of its mega plant in Chuzhou. Projects like these often require a long gestation period. But we still backed them because we knew this plant would set the company on a stronger footing for its business operations in the future.
Khoo Boo Hor:
Sunningdale was privatised in early 2021. The move allows us to remain competitive and respond faster to market changes due to global trade tensions and the COVID-19 pandemic.
Leong Yung Chee:
UOB supported Sunningdale’s privatisation with a holistic financing package. This included financing the acquisition of shares from minority investors. Privatisation puts them in a better position to respond nimbly to shifts in global supply chains, opening doors to more business in the region and beyond.
Khoo Boo Hor:
The supply chain landscape has changed and we must transform fast. Our continued relationship with UOB is essential as we foresee a need to make investments in higher-cost locations which may only generate payoffs in the long run.