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  • Merger and Change of Business Names for Non-Japan Wholesaling Segment Subsidiaries in Southeast Asia

News Release

  • The information provided herein was current at the time of its announcement.
    Please note that this information may be subject to change without notice.
  • 2019.06.20
  • Japan Pulp & Paper Co., Ltd.

Merger and Change of Business Names for Non-Japan Wholesaling Segment Subsidiaries in Southeast Asia

Japan Pulp & Paper Co., Ltd. (“the Company”) hereby announces the merger of its consolidated subsidiaries, JPP Far East (S) Pte Ltd (“JPP FE”) and Spicers Paper (Singapore) Pte Ltd (“Spicers SG”), and a change in the business name of the combined entity to OVOL Singapore Pte. Ltd. (“OVOL SG”). Furthermore, the Company hereby also announces its decision to change the business name of its Spicers Paper (Malaysia) Sdn Bhd (“Spicers ML”) consolidated subsidiary to OVOL Malaysia Sdn. Bhd. (“OVOL ML”).

1.Merger & Change of Business Names of JPP FE and Spicers SG Entities in Singapore

With the aim of strengthening its operational base, expanding its range of products, and improving its customer service throughout Southeast Asia, the Company made Spicers SG and Spicers ML, two paper wholesalers operating in Singapore and Malaysia respectively, into wholly-owned subsidiaries in December 2018, reinforcing its paper wholesaling operations in both countries.

On this occasion, the Company has combined JPP FE and Spicers SG, it’s two consolidated paper wholesaling subsidiaries in Singapore, and by hastening this unification is aiming to maximize synergies while fully utilizing the strengths of JPP FE in printing and communication papers and Spicers SG’s advantages in the packaging and digital segments. The new entity will further develop its business under the OVOL Singapore Pte. Ltd. name, which takes on the Group’s OVOL brand.

In Singapore, where demand for paper and paperboard is expected to be robust in accordance with the moderately growing national economy, the Japan Pulp & Paper Group (“the Group”) will seek to contribute to the development of the Singaporean paper market through trade in an abundance of appealing products available through the Group’s global network, combined with an operation base firmly rooted in the local economy.

(1)Overview of Merger between JPP FE and Spicers SG Entities in Singapore
・Date of Merger: Monday July 1, 2019
・Form of Merger: The merger will be an absorption-type merger with JPP FE the expiring entity and Spicers SG remaining as the surviving company.

(2)Profiles of Merging Entities (As at May 31, 2019)

Name Spicers Paper (Singapore) Pte Ltd JPP Far East (S) Pte Ltd
Head Office 2 Corporation Road, #01-10 Corporation Place
Singapore 618494
No.9, Third Chin Bee Road
Jurong, Singapore 618685
Representative Genevieve Chua Kwee Huay
Managing Director
Chairman: Hiroshi Kashima
President: Shota Arai
Main Business Wholesaling of paper and packaging materials Wholesaling of paper and paperboard
Capital SGD14.790 million
(JPY1,172 million)
SGD1.048 million
(JPY83 million)
Date Established October 17, 1984 December 16, 1969
The Company’s Shareholding Ratio 100% 100%
Note: The foreign exchange rate of SGD1=JPY79.27 used for conversions in this table is based on the average of the final official quotations for the TTS and TTB rates announced by MUFG Bank, Ltd., Tokyo on May 31, 2019.

 

(3)(Intended) Profile of the Post-Merger Company

Name OVOL Singapore Pte. Ltd.
Head office 2 Corporation Road, #01-10 Corporation Place, Singapore 618494
Representative Chairman: Hiroshi Kashima
Managing Director: Genevieve Chua Kwee Huay
Main Business Wholesaling of paper, paperboard and packaging materials
Capital SGD14.790 million (JPY1,172 million)
The Company’s Shareholding Ratio 100%
Note: Foreign exchange rate of SGD1=JPY79.27 used for conversions in this table is based on the average of the final official quotations for the TTS and TTB rates announced by MUFG Bank, Ltd., Tokyo on May 31, 2019.

 

2.Change of Business Name for Malaysian Entity Spicers ML

The business name of Spicers ML will be changed to OVOL Malaysia Sdn. Bhd. to coincide with the merger and change in business name of Spicers SG with the purpose of realizing the integrated management of the Group.

3.Future Outlook

  Any effects of this merger and business name changes on the Company’s consolidated results are considered insignificant.

Paper wholesaling operation sites throughout Southeast Asia

Related link

  • Acquisition of Spicers Paper (Singapore) & Spicers Paper (Malaysia) Completed
  • Acquisition of Spicers Group Companies in Southeast Asia

Enquires
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Japan Pulp & Paper Co., Ltd.
Tel: +81-3-5548-4026

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