Singapore’s commercial collection and marketing agency Tappah is reportedly going for $23.3 million, with plans to sell it at auction later this year.
The commercial collection business, which started in 2015, was bought by Tappan Collective for $12.8 million.
It is now the most valuable commercial collection in the country, with a market value of $37.3 billion.
It is a departure from the commercial collection industry’s traditional focus on retail, according to the Siam Daily.
It also has a strong presence in Singapore’s entertainment sector, with the agency reportedly working on “live events” and “films”.
It is unclear what role Tappag will play in selling the collection.
A spokesperson for the agency told Singaporean media outlet the agency does not comment on private transactions.
However, the agency’s website shows a photo of a tappah in a promotional photo with a red envelope on it.
The agency’s portfolio is also reportedly dominated by movies, with “The Avengers: Age of Ultron” and Marvel’s “Iron Man” in the top three, while “Iron Fist” is listed as a top-ten film.
The Singaporean government announced in September that it was launching a digital strategy aimed at digital marketing and sales to improve consumer spending habits, with an emphasis on local products and local brands.