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Adcorp eyes Asia with new deal

May 05 2015 19:50

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Company Data

Adcorp Holdings Limited [JSE:ADR]

Last traded 11
Change 0
% Change 0
Cumulative volume 7415
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Human capital and workforce management group Adcorp Holdings [JSE:ADR] announced on Tuesday that it has acquired an option in and has entered into a strategic partnership with Singapore based APBA.

Adcorp also has operations in Australia.

APBA is invested across a number of Asian countries, including Singapore, Hong Kong, China, Taiwan and Japan and offers comprehensive services in recruitment, human resource consulting, payroll outsourcing, as well as various outsourced human resource functions.

In terms of the strategic partnership, Adcorp will have a financial involvement with APBA that will assist in accelerating the growth of its business in the region and also includes the possible future participation by Adcorp in the equity of that business.

READ: Adcorp seeks Africa expansion with R230m deal

Adcorp CEO Richard Pike said this strategic tie up is an important milestone for both businesses.

"There is much that we can learn from each other, there are exciting cross selling opportunities and, most importantly, it enables us to offer our clients unique solutions across Asia, Africa and Australia in a number of important industry sectors such as oil and gas, health care, infrastructure, hospitality, ICT, telecoms and manufacturing," he said.

“Increasingly, there is a demand by clients for uniform workforce management solutions that span the global reach of their operations. The tie up with APBA is a very important and strategic piece of the jigsaw puzzle for us in terms of our ability to service such clients across an extensive, international reach that spans three continents.”'

READ: Adcorp eyes Kelly as profits climb

APBA CEO Paul Ng said he too was excited by the opportunity the strategic partnership with Adcorp provided.

“Given the significant capital flows taking place between Asia, Australia and Africa, the tie up between our two organisations provides an ideal opportunity for us to follow these investment flows with unique and targeted human capital solutions,” said Ng.

“This tie up with APBA is another big and important step in fulfilling our strategic objective to become a workforce management company of consequence focused on emerging markets and the Southern Hemisphere and in particular, Africa, Asia and Australia."

ALSO READ: Adcorop's business picks up in Africa

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