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Goodwill Entertainment
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Joelton
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09-Jun-2026 10:26
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Goodwill Entertainment to acquire Funtech Solutions for $4.0 mil Goodwill Entertainment (SGX:GEH) announced that it has entered into a sale and purchase agreement to acquire 100% equity stake in Funtech Solution for $4 million. According to the group, Funtech is an entertainment technology company in Singapore specialising in the development, installation and consultation of advanced audio-visual (AV) solutions. &ldquo As an authorised seller in Singapore for one of the largest karaoke equipment manufacturers in China and one of only eight authorised commercial karaoke suppliers in Singapore recognised by Music Rights (Singapore) Public Limited, Funtech holds a strong position in the domestic market,&rdquo the group states. For FY2025 ended Dec 31, Funtech achieved a net profit after tax of approximately $670,000, with net assets valued at around $530,000. The purchase consideration represents approximately six times Funtech&rsquo s FY2025 net profit after tax, and was arrived at on a willing-buyer, willing-seller basis following arm&rsquo s length negotiations. Goodwill Entertainment believes that this acquisition will enable the company to institutionalise technology-enabled solutions across its core " HaveFun Family Karaoke" and " HaveFun Live Show" brands. Beyond that, the group hopes to capture new B2B business opportunities by scaling its turnkey entertainment venue solutions, song-ordering systems and software integrations to third-party operators across Singapore, Malaysia and Southeast Asia, generating new and recurring revenue streams. In terms of financing the Funtech acquisition, 75% of the total consideration will be financed from the issuance of 20 million shares at 15 cents each while the remaining 25% will be paid via cash. The newly issued shares will represent around 4.82% of the group&rsquo s post-completion enlarged share capital and are bound by an irrevocable six-month voluntary moratorium from the date of issuance. &ldquo By combining our robust retail brand equity with Funtech&rsquo s backend intellectual property, we are uniquely positioned to innovate our experiential formats within Singapore and commercially export these end-to-end entertainment solutions into high-growth regional markets,&rdquo says Flint Lu, executive chairman and CEO of Goodwill Entertainment. As at 9.20am, shares in Goodwill Entertainment were unchanged at 14.5 cents. |
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raycc2024
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16-Sep-2025 07:57
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Moving .... vested |
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Joelton
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16-Nov-2024 13:51
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Goodwill Entertainment closes flat at IPO price
IPO proceeds will go towards expanding the business regionally and globally, among other uses
KARAOKE operator Goodwill Entertainment commenced trading on the Catalist board on Friday (Nov 15), opening at S$0.21 or 5 per cent above its initial public offering (IPO) price of S$0.20 a share.
As at 9.10 am, it was one of the most actively traded counters by volume it was trading flat at S$0.205 at that time, with 2.4 million shares worth S$510,000 having changed hands.
The company&rsquo s trading debut comes weeks after the company announced that its IPO closed 1.5 times oversubscribed.
The IPO, which consists of 60 million placement shares at S$0.20 per share, will raise S$12 million, with the company netting S$6.5 million.
The proceeds will be channelled into expanding the business regionally and globally, and also into acquisitions, investments in technology and general working capital needs.
Founded in 2015, Goodwill Entertainment operates multi-entertainment concepts, including karaoke facilities and performance halls.
&ldquo A lot of existing operators have karaoke rooms only, but we offer multi-entertainment concepts,&rdquo said Flint Lu (left), founder, CEO and executive chair of Goodwill Entertainment.
Karaoke operator Goodwill Entertainment aims to hit the right notes in Catalist IPO, raise S$6.5 million in net proceeds
It plans to open a central kitchen in Woodlands to handle its food and beverage offerings at its karaoke lounges and live-show concept. Many of its venues already have kitchens, but the central kitchen would ensure that the offerings are of the same standard.
The group will also launch craft beers brewed in its own microbrewery in its flagship HaveFun Karaoke outlet at Cineleisure Orchard.
Alongside enhancing its current offerings, Goodwill Entertainment is also said to be looking to team up with partners.
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