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Press release: Adcorp enters into strategic alliance with APBA
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139
(“Adcorp”)
PRESS RELEASE: ADCORP ENTERS INTO STRATEGIC ALLIANCE WITH APBA
Johannesburg Securities Exchange (JSE) listed human capital and workforce management group,
Adcorp Holdings Limited, announced today that it has acquired an option in and has entered into a
strategic partnership with Singapore based APBA Pte Ltd.
Adcorp is Africa’s largest workforce management group and also has extensive operations in Australia.
Invested across a number of Asian countries including Singapore, Hong Kong, China, Taiwan and Japan,
APBA 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.
Adcorp CEO, Richard Pike said that, “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.
“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”.
APBA CEO, Paul Ng, commented that 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”, says Mr 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.
“I am most enthusiastic about the partnership with APBA, the many possibilities it presents for us and
the contribution it will make to achieving our ambitious strategic goals”, says Pike.
Bryanston
5 May 2015
Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited
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