November 20, 2019

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Singapore retailer establishes Challenge Ventures

by Stuart Wilson, Friday 2 October 2015

Singapore-listed Challenger Technologies has established a new subsidiary, Challenge Ventures, to focus on investing in companies and businesses to complement Challenger’s existing business. The company is prepared to inject up to SGD20m (US$13.95m) into Challenge Ventures if suitable investments can be identified. Challenger Technologies currently operates a chain of IT retail stores known as Challenger as well as lifestyle retail concepts such as audio specialty store Musica in Singapore.

Challenge Ventures aims to invest in companies to operate within Challenger’s digital ecosystem by providing support for the group’s business operations, as well as other subsidiaries within the group. Challenger’s recently set up wholly-owned ecommerce marketplace portal subsidiary, Andios, as well as its existing end-to-end integrated marketing solutions subsidiary, inCall System, will become part of Challenge Ventures.

Loo Leong Thye, chief executive at Challenger Technologies, said: “We are excited about what Challenge Ventures can offer to expand, grow and transform our current IT retail business into a digital lifestyle ecosystem encompassing retail, online, logistics, services and mobile marketplace.”

“We intend to look for suitable investments beyond bricks-and-mortar retail businesses in order to expand our physical retail footprint as the largest IT retail chain store operator in Singapore. Investing in digital platforms will help us achieve our vision of being a large online and offline player,” he added.

DISTREE APAC 2015

Channel APAC is an official Media Partner for regional technology and consumer electronics retail channel event DISTREE APAC taking place October 7-9th in Singapore. Vendors and channel partners requiring more information about DISTREE APAC 2015 should contact events@channelemea.com quoting code DAP15.

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