Temasek fund invests in homegrown store-fixtures firm

TEMASEK Holdings' Heliconia Capital Management has taken a "substantial minority equity position" in a Singapore store-fixtures company that still sees Asia as a magnet for global lifestyle retail brands despite the bleary economic conditions.

Futuristic Store Fixtures on Monday said it has secured an investment sum from Heliconia. It would not disclose the amount.

The money will be used to expand and upgrade the company's manufacturing facilities in Selangor, Malaysia and in Kunshan, China. Futuristic will also set aside a portion of the funds for strategic partnerships or acquisitions in the related space to expand its regional reach, it said.