Sunningdale – Moulding a global enterprise

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    • Sunningdale - Moulding A Global EnterpriseSunningdale - Moulding A Global Enterprise
    • Sunningdale - Moulding A Global EnterpriseSunningdale - Moulding A Global Enterprise
    24 August 2021

    With 18 manufacturing locations across the globe, Sunningdale Tech is a global enterprise that provides turnkey precision plastic solutions in healthcare, automotive, consumer and IT industries. Its healthcare components can be found in medical devices used in robotic surgery, genome sequencing and COVID-19 test kits. It provides one-stop solutions, with capabilities ranging from product and mould designs, mould fabrication, injection moulding, through to the precision assembly of complete products.

    In 2014, Sunningdale made a bid to acquire First Engineering – a Singapore moulding company valued at US$80 million. With a banking relationship dating back to 1987, UOB had a strong understanding of Sunningdale’s business model, and offered Sunningdale the acquisition loan it needed to grow its customer base and secure its leadership position.

    UOB’s global network also benefitted Sunningdale as it set up its manufacturing plants in Latvia—serving the European market—and in China’s Chuzhou. Then, in 2021, UOB supported Sunningdale’s privatisation with a financing package so that Sunningdale could be in a better position to respond to global supply chain shifts.

    Watch on to discover how UOB’s integrated network, innovative financing solutions and long-term commitment opened doors to regional growth for Sunningdale.

     

     

    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.

    Khoo Boo Hor:
    Sunningdale has manufacturing centres in nine countries. The healthcare components can be found in medical devices, including robotic surgery, genome sequencing and COVID-19 test kits.

    Sunningdale has a plant in Latvia that supports the European market. Even though our operations are in Eastern Europe, we could tap UOB’s London branch to support in the Euro-denominated term loan and credit line. But what made the process easier to manage was that everything was done through UOB in Singapore.

    Sunningdale’s largest China plant is in Chuzhou. UOB’s presence in China meant they could support the capital expenditure of this project.

    Leong Yung Chee:
    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.

    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.

     

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