Latest news with #Cuckoo
Business Times
2 days ago
- Business
- Business Times
South Korea's Cuckoo set for Malaysia debut after scaling down IPO
[SEOUL] A subsidiary of South Korean home-appliance maker Cuckoo Holdings is set to go public in Malaysia after a scaled-down offering that is expected to raise RM395 million (S$119.4 million). Cuckoo International (Mal) will begin trading on June 24, two months after postponing its initial public offering (IPO) due to market volatility. The final amount raised may vary as the company is waiting for approval from the bourse to reduce its public shareholding spread to 20 per cent from the current 25 per cent. Its revised offer price of RM1.08 per share, from RM1.29 previously, will value the company at RM1.55 billion. The company's debut will be closely watched for clues on demand for consumption stocks given the tepid retail subscription rate for Cuckoo. Chief executive officer Hoe Kian Choon is confident that its prospects and sizeable market share in the local home-appliance rental segment will draw investors. 'A lot of our investors were happy' that the offering was put off to ride out the volatility sparked by the US tariff announcement in April, Hoe said. 'None of our cornerstone investors left.' While market uncertainty remains high, the situation is 'more stable now,' allowing the company to revive its listing plans, he added. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Hoe, who founded the local company in 2014 as a distributor of Cuckoo products, has grown the business on the strength of its water purifier rental segment. Cuckoo Malaysia also co-creates some new products with other brands for the domestic market. The company's promising outlook prompted its Korean supplier to take up a majority stake in the Malaysian firm. Hoe said that Cuckoo Malaysia has secured nearly a fifth of the local appliance rental market and opportunities to cross-sell products among its one million active-subscriber base would help the company achieve double-digit revenue growth over the next few years. Cuckoo Malaysia's profit after tax for the first nine months of 2024 jumped 75 per cent from the previous corresponding period to RM104 million. Revenue rose 13 per cent. 'Malaysia's market is growing not only in number of households but also in household debt,' Hoe noted. 'Malaysians are looking for the best way to actually maximise their value for money. Rental will be one of the ways for them to enjoy a standard of living.' Korean rival Coway's wholly-owned local unit currently has market leadership in the rental space. Hoe, a former Coway executive, aims to catch up with other Cuckoo offerings including mattresses, massage chairs and air purifiers. Consumer brands that are centred on mass-market affordability have done well in Malaysia. Two of the country's biggest IPOs in the past year were retail chains that catered to customers looking to stretch the dollar – mini-mart operator 99 Speed Mart Retail Holdings and dollar-store chain Eco-Shop Marketing. Hoe said that Cuckoo's business fundamentals remain sound given little exposure to external shocks. While it is vulnerable to a stronger US currency – the company buys stock from its Korean parent in dollars – strong recurring income from its rental segment helps ease the pressure. Cuckoo will use proceeds from the IPO to open new concept stores that will allow cash-and-carry purchases and expand its business in Singapore. BLOOMBERG
Time of India
2 days ago
- Entertainment
- Time of India
Kim Soo Hyun faces $5,350,000 in damages as dating scandal with late actress Kim Sae Ron costs him major brand deals
Kim Soo Hyun, once known as South Korea's golden boy of K-dramas, is now battling to protect his reputation and his finances as a wave of high-profile advertisers take legal action against him. With hefty penalty fees in reported lawsuits piling up, the actor's fall from grace has sent shockwaves through the industry. What was once a thriving brand empire built on a 'clean-cut' image is now cracking following his dating scandal with late actress Kim Sae Ron. Kim Soo Hyun hit with KRW 7.3B lawsuits as brands cut ties over Kim Sae Ron scandal Kim Soo Hyun has been hit with a series of high-stakes compensation lawsuits from the very brands that once proudly signed him. So far, six companies have publicly come forward, demanding more than KRW 7.34 billion (around USD 5,350,000) in damages, with more expected to follow. The situation escalated dramatically when two of Kim Soo Hyun's biggest endorsement partners took action to recover their losses. Medical skincare brand Classys filed a lawsuit demanding KRW 3.00 billion (approximately USD 2,190,000) after moving to seize his Galleria Forêt apartment—the property the actor had purchased back in 2013 and 2014. Just a day later, South Korean electronics giant Cuckoo filed for a court-ordered freeze of the actor's assets worth KRW 100 million (roughly USD 73,500). Along with its subsidiaries, including its Chinese affiliate and rice cooker division, Cuckoo is demanding KRW 850 million (around USD 625,000) in damages, bringing their joint claim to KRW 2.03 billion (approximately USD 1,470,000). Other companies weren't far behind. On April 25, a cosmetics brand filed suit demanding KRW 510 million (about USD 367,000). Trendmaker, which operates the vegan beauty label DINTO, also turned to the courts, filing for the same amount after initially backing the actor but later facing backlash themselves. Health supplement company FromBIO—best known for its stem cell hair loss treatment line—filed the largest individual claim of KRW 3.96 billion (about USD 2,890,000) on May 16. The company had only recently signed Kim Soo Hyun in October 2024, riding the success of Queen of Tears, but conveniently dropped him once the scandal took centre stage. The controversy that started it all Kim Soo Hyun's troubles began earlier this year when rumours surfaced about a past relationship with late actress Kim Sae Ron. While the actor initially remained silent, speculation quickly turned toxic after YouTube channel Garo Sero Institute accused him of having an inappropriate relationship with Bloodhounds fame when she was just 15 years old. The allegation remains unproven, and Soo Hyun has since filed a KRW 12 million lawsuit against the channel, but the damage was already done. Adding fuel to the fire was a press conference held by Soo Hyun's agency, GOLD MEDALIST, which many felt came off as defensive and evasive. Instead of clearing his name, the appearance only intensified public and media backlash. In a matter of weeks, the actor—once celebrated for roles in It's Okay to Not Be Okay and Queen of Tears—became embroiled in what now looks like a career-threatening crisis. Kim Soo Hyun's Disney+ drama Knock Off postponed amid scandal Kim Soo Hyun's future in the industry now hangs in the balance, as Disney+ has reportedly postponed his upcoming drama Knock Off indefinitely. The decision comes amid growing pressure from advertisers and ongoing public backlash surrounding his controversy. For all the latest K-drama, K-pop, and Hallyuwood updates, keep following our coverage here.
Business Times
2 days ago
- Business
- Business Times
Korea's Cuckoo set for Malaysia debut after scaling down IPO
(Bloomberg) – A subsidiary of South Korean home-appliance maker Cuckoo Holdings is set to go public in Malaysia after a scaled-down offering that's expected to raise RM395 million (S$119.4 million). Cuckoo International (Mal) will begin trading on June 24, two months after postponing its initial public offering due to market volatility. The final amount raised may vary as the company is waiting for approval from the bourse to reduce its public shareholding spread to 20 per cent from the current 25 per cent. Its revised offer price of RM1.08 per share, from RM1.29 previously, will value the company at RM1.55 billion. The company's debut will be closely watched for clues on demand for consumption stocks given the tepid retail subscription rate for Cuckoo. Chief executive officer Hoe Kian Choon is confident that its prospects and sizeable market share in the local home-appliance rental segment will draw investors. 'A lot of our investors were happy' that the offering was put off to ride out the volatility sparked by the US tariff announcement in April, Hoe said in an interview. 'None of our cornerstone investors left.' While market uncertainty remains high, the situation is 'more stable now,' allowing the company to revive its listing plans, he said. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Hoe, who founded the local company in 2014 as a distributor of Cuckoo products, has grown the business on the strength of its water purifier rental segment. Cuckoo Malaysia also co-creates some new products with other brands for the domestic market. The company's promising outlook prompted its Korean supplier to take up a majority stake in the Malaysian firm. Hoe said Cuckoo Malaysia has secured nearly a fifth of the local appliance rental market and opportunities to cross-sell products among its one million active-subscriber base would help the company achieve double-digit revenue growth over the next few years. Cuckoo Malaysia's profit after tax for the first nine months of 2024 jumped 75 per cent from the previous corresponding period to RM104 million. Revenue rose 13 per cent. 'Malaysia's market is growing not only in number of households but also in household debt,' Hoe said. 'Malaysians are looking for the best way to actually maximize their value for money. Rental will be one of the ways for them to enjoy a standard of living.' Korean rival Coway's wholly-owned local unit currently has market leadership in the rental space. Hoe, a former Coway executive, aims to catch up with other Cuckoo offerings including mattresses, massage chairs and air purifiers. Consumer brands that are centred on mass-market affordability have done well in Malaysia. Two of the country's biggest IPOs in the past year were retail chains that catered to customers looking to stretch the dollar – mini-mart operator 99 Speed Mart Retail Holdings and dollar-store chain Eco-Shop Marketing. Hoe said Cuckoo's business fundamentals remain sound given little exposure to external shocks. While it is vulnerable to a stronger US currency – the company buys stock from its Korean parent in dollars – strong recurring income from its rental segment helps ease the pressure. Cuckoo will use proceeds from the IPO to open new concept stores that will allow cash-and-carry purchases and expand its business in Singapore. BLOOMBERG
Metro
7 days ago
- Entertainment
- Metro
Outnumbered child star, 29, marries partner of seven years
A child star from Outnumbered has married his partner of seven years. Tyger Drew-Honey, 29, who is also known for starring in Cuckoo alongside Greg Davies, is said to have tied the knot with Fluke Chotphuang. In 2007, the actor was introduced to viewers as Jake Brockman in the BBC sitcom, which starred Hugh Dennis and Claire Skinner as his parents, Pete and Sue, while Daniel Roche and Ramona Marquez played his siblings Ben and Karen. Tyger appeared on the show for seven years, later reprising the role for a special in 2016 and another last year. On Instagram, it appears as though Fluke has already adopted the Drew-Honey surname as the pair sealed their union. Tyger took to his social media page to share a number of beautiful photos from their special day. Tyger can be seen in a light blue suit alongside Fluke as they enjoy the ceremony. It is not yet clear whether his Outnumbered co-stars also attended the wedding. Earlier this year, it was revealed that Tyger was returning to our screens in a brand-new role. The actor has appeared on The Armstrong & Miller Show, Doctors, Midsomer Murders, Death in Paradise, and even Celebs Go Dating. However, four years after appearing on Grantchester, Tyger took on the role of journalist Ernest Parke in the Sky drama-documentary series, Jack the Ripper: Written in Blood. The 'bold new series' investigates the killings of Jack the Ripper and the media circus it created in 1800s London. According to the synopsis of the show, Parke led much of the press around the Ripper killings and 'theorised in the 31st August 1888 edition that Jack the Ripper was a single killer'. Last year, Tyger spoke candidly about his struggle to secure acting work after being a child star. 'I have done some good things, but then there have been times that I've worked on building sites,' he told The Sun. 'I just dream of having constant acting work, and I really hope the hype and the momentum of this special continues so that we can all have a really successful next year, because the last three or four years have been tough for this industry. 'For this to come back and give us good hope for next year, I think is brilliant, and that's what I'm hoping for anyway,' he added when promoting the latest Outnumbered special. Around the same time, he also spoke about the impact of finding fame young. 'I found it difficult at times – and I wasn't a crazy teenager – but wanting to have a drink at 17,' he shared during an appearance on This Morning. Elsewhere in the world of Outnumbered, it was revealed that Hugh and Claire – who play the couple in the TV show – married three years ago without anyone knowing. Got together when filming ended of the 2017 series, which was confirmed the following June. And after eight years together, MailOnline confirmed Hugh and Claire tied the knot in the summer of 2022 in the parish of Westminster, not once speaking publicly about their nuptials. More Trending Following last year's Christmas special of Outnumbered, Ramona – who played Karen – revealed her new venture as a tattoo artist. On TikTok, she shared that she had completed her first week as a professional tattooist at El Museo Studio in South London. This came after Daniel Roche, who played Ben, said he was getting back into acting after playing rugby for the Wasps academy. He said: 'I just want to get back into the swing of it, really. I'm not saying I want to be standing on stage with an Oscar for best actor. Ultimately, you want to spend your life doing what you enjoy, and I've always enjoyed acting.' Got a story? If you've got a celebrity story, video or pictures get in touch with the entertainment team by emailing us celebtips@ calling 020 3615 2145 or by visiting our Submit Stuff page – we'd love to hear from you. View More » MORE: Beloved BBC series returning to TV as huge cast changes are confirmed MORE: Casualty star Michael Stevenson reveals worrying Iain Dean twist MORE: The 7 best 'explosive' Australian thrillers free to watch in UK
The Star
13-06-2025
- Business
- The Star
Cuckoo IPO oversubscribed by 1.42 times, final price set at RM1.08 per share
KUALA LUMPUR: Cuckoo International (MAL) Bhd's initial public offering (IPO) has been oversubscribed by 1.42 times ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd. Cuckoo is expected to be listed on the Main Market of Bursa Malaysia on June 24, 2025. The household goods manufacturer said a total of 7,908 applications for 69.33 million issue shares were received from the Malaysian public, resulting in an overall oversubscription rate of approximately 1.42 times. Of the total, the Bumiputera portion was oversubscribed by 0.35 times, while the other Malaysian public portion saw a higher oversubscription rate of 2.49 times. Cuckoo said the 143.28 million shares offered via private placement to local and foreign institutional investors were fully placed out. In addition, it said 14.32 million shares allocated to eligible individuals, including Cuckoo group employees, were also fully subscribed. Cuckoo also said the final IPO price for its listing on the Main Market has been set at RM1.08 per share, lower than the initial reference price of RM1.29 per share. RHB Investment Bank Bhd is the sole principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for this IPO. AmInvestment Bank Bhd is the joint global coordinator, joint bookrunner and joint underwriter for this IPO.
