• Q3 group sales up 11.8% over preceding quarter Q2 to $7.6 million on the first full-quarter contribution from Ministry of Sound and the Balcony.
• Q3 gross margin of 79% an improvement over Q2 FY06's 77%.
• Group is optimistic about future prospects of new LifeStyle category underpinned by increasingly upbeat growth projections for Singapore's economy and is proceeding to develop new product concepts.
• Conversely, unfavourable conditions in the beauty and health supplement industry are not anticipated to turn positive in Q4.
LifeBrandz is a lifestyle brand development and management Group with interests in beauty / fashion and wellness and lifestyle-related, leveraging on its core competence in developing brands that it has created, acquired or secured rights to, into successful brands that meet customers' needs. [+]
Wholly-owned subsidiary, ASL Shipyard Pte Ltd has secured additional shipbuilding contracts worth a total of S$81.3 million for the construction of the following nine new vessels to be delivered to customers in Australia, Europe, Malaysia and Singapore:
• Three units of Anchor Handling Tug Supply Vessels.
• One unit of Platform Supply Vessel.
• Five units of Work Barges.
The PSV and work barges are expected to be completed by the financial year ending 30 June 2007 and the AHTS by the financial year ending 30 June 2008.
ASL Marine is a vertically-integrated marine company principally involved in Shipbuilding, Shiprepair, Shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, the Middle East and Europe. [+]
Ascendas-MGM Funds Management Limited has completed the acquisition of two properties: Sembawang Kimtrans Logistics Centre and Logistics 21 for S$78.0 million, funded by bank debt.
Sembawang Kimtrans Logistics Centre is located at 30 Old Toh Tuck Road and is accessible via the Ayer Rajah Expressway and Pan Island Expressway. The property comprises a four-storey ramp-up warehouse with ancillary office, a rooftop carpark and a container depot. SKL will lease back the entire property for 8 years with stepped rental increases.
Logistics 21 is located at 21 Jalan Buroh and is accessible via the West Coast Highway and the Ayer Rajah Expressway. The property comprises a three-storey ramp-up warehouse with ancillary office, a rooftop carpark and a container depot. Logistics 21 Pte Ltd, a wholly-owned subsidiary of SKL, will lease back the entire property for 8 years with stepped rental increases.
A-REIT is the first business space and light industrial real estate investment trust listed on the SGX-ST. [+]
Midas Holdings Limited Aluminium Alloy Divison, Jilin Midas Aluminium Industries Co., Ltd has secured new contracts to supply aluminium alloy extrusion profiles to Siemens Group and Changchun Railway Vehicles Co., Ltd.
The Siemens Group contract is valued at RMB4.2 million, and will see Midas supplying aluminium alloy extrusion profiles for the manufacture of metro train cars. This is the second contract awarded to Midas for Siemens' Metro Oslo Project MX.
The second contract with Changchun Railway is valued at RMB4.7 million to supply aluminium alloy extrusion profiles for the Changchun City Light Rail Transit Phase 1 Project.
Midas is a leading manufacturer of aluminium alloy extrusion products and PE pipes, primarily for the transportation and infrastructure sectors in the PRC. [+]
ChinaCast Communication Holdings Limited and the Insurance Association of China recently signed an agreement for the purpose of developing a nationwide e-learning network to provide training courses and certification programs to insurance industry workers.
Since year 2000, the China insurance industry has tripled in size to about US$60B in premiums and it is expected to exceed US$100B by 2009. There are now over 1,800 insurance agencies in the PRC employing over 1.47 million workers. The demand for qualified and skilled insurance professionals is high and this demand is expected to increase further with the entry of foreign insurance companies after China's entry to the World Trade Organisation.
ChinaCast and IAC will jointly fund the development of the nationwide distance learning network and the training/certification programs and thus, both parties will share the tuition revenue. Enrolment activities is expected to commence in the fourth quarter of 2006.
ChinaCast provides e-learning services and content to educational institutions, government agencies and Fortune 500 enterprises. [+]
Eco Water Limited had on 16 June 2006 entered into a conditional sale and purchase agreement with Koastal Industries Pte Ltd to acquire a 70.0% equity interest in the issued and paid-up share capital of EMS Offshore Pte Ltd for an aggregate consideration of S$3,193,750.
The principal business of EMS Offshore is conducted through its subsidiary, EMS. The EMS Group offers design, engineering, installation, repairs and fabrication services and products to companies in the offshore, marine, oil and gas industry.
The Acquisition would provide the Company the opportunity to diversify into the offshore marine services industry in view of Singapore's attractiveness as a maritime center and with series of new generation offshore drilling rigs under construction in Singapore. In particular, the Company intends to capitalise and build on EMS Group's existing strength in the area of its products and services within this industry.
Eco Water is a specialist system provider of sewage and industrial wastewater treatment. [+]
Portek through its 55%-owned subsidiary, Valletta Gateway Terminals Limited, newly incorporated in Malta and which shall have a paid-up capital of Maltese Lira 500,000 or about USD1.5 million, signed the concession agreement with the Malta Maritime Authority on 10 June 2006. The Tumas Group, a Malta-based group of companies, holds the balance 45% of VGT. Tumas is one of the largest conglomerates in Malta with interests in the hotel and property development industry in Europe.
The Concession, commencing 1 July 2006, will involve VGT handling containers, roll-on-roll-off containers, breakbulk and cars at the Port of Valletta. Traffic in 2005 at the Port of Valletta included more than 60,000 TEUs of containers and RORO containers and more than 10,000 cars. VGT's concession area includes two quays with a total length of about 1,000 metres.
The Portek Group is a turnkey provider of equipment, services and solutions for the global port industry, as well as an operator of container and bulk terminals. [+]
Courage Marine Group Limited intends to grow its presence in the Middle East as it is well-positioned to benefit from the growing global energy and infrastructure demand.
Meeting the rising demand for cement and limestone is an example of how Courage's strategy of having more spot than term contracts earns it higher margins. This is as freight rates on the Middle East route are generally 20% above those in Asia such as the Taiwan-China route.
Since February, it has made inroads shipping building materials like cement and limestone to Qatar - one vessel transports cement from the Philippines to the Middle East, and on the return leg, fertilizers from the Middle East to Indonesia.
Courage owns/operates 11 dry bulk carriers, comprising five Handysize, three Handymax, and three Panamax vessels, with a total capacity of 486,280 dwt. [+]
Design Studio Furniture Manufacturer Ltd has captured contracts worth a total of S$60 million with its latest projects inked to date. With its newly attained sales, its order book as at 31st May 2006 stands at S$92 million.
On a global platform, Design Studio's aggressive venture and penetration into overseas markets has paid off with deals acquisition worth S$42 million. The Company has successfully won a number of highly-acclaimed developments like The Shoreline Apartments by Nakheel in The Palm Jumeriah, Dubai UAE and the Trump International Hotel & Tower in Las Vegas, Nevada USA developed by Mr Donald Trump.
In the local milieu, the Company has attained the contract for City Development Limited's much-publicized The Sail at Marina Bay, for the supply and installation of kitchen cabinets, wardrobes and vanity cabinets. The scope of work for the 1,111 units of luxury apartments and penthouses will begin in 2007 and continue right through to 2009.
Design Studio is a premier furniture manufacturer, a product and interior fitting out specialist. [+]
China Fishery Group Limited indirect Peruvian wholly-owned subsidiary, CFG Investment S.A.C. whose shares are held by the Company's wholly owned subsidiary, CFG Peru Investments Pte Ltd has on 12 June 2006 entered into a share purchase agreement with Pesquera Victor S.A.C., Pesquera Flor de Ilo S.R.L., Alexandra S.A.C., Victor Lumbroso Cohen, Ginette Lumbroso Batievsky and Valerie Lumbroso Batievsky.
The proposed acquisition will complement the existing businesses and development plans of the Company securing a key operational position in Peru, the world's largest producer of fishmeal. Offering controlled access to fishing vessels to expand its fishing grounds in the Peruvian exclusive economic zone, which is one of the most productive fishing areas in the world. Allowing the company to extend and diversify its current product mix to include Peruvian anchovy-based fishmeal and fish products and to take advantage of the growth in the Peoples' Republic of China, the largest consumer of fishmeal in the world for use in its expanding aquaculture.
China Fishery Group Limited is a global integrated industrial fishing specialist with operations across the world's Oceans, operateing fishing vessels with quotas worldwide. [+]
China Petrotech Holdings Limited 60%-owned subsidiary in China, Ba Zhou Zhong You Yang Guang Oil & Gas Technology Limited Company, has secured additional logging service contracts in Ta Zhi Oil Field, Xin Jiang. This will expand the number of mud logging teams in Ta Zhi Oil Field from two teams as at the end of 2005 to six teams by the end of June 2006. Each of the service contract covers a period of 3 years.
The amount of service revenue will be based on the type of logging service provided per working day. Examples of logging services include basic mud logging and geophysical analysis of rock cuttings using nuclear magnetic resonance spectrometer. The management estimates that each logging team can generate an average revenue of approximately RMB5 million annually (based on 300 working days).
Ba Zhou also has two service teams engaged in core sample scanning in the Ta Zhi Oil Field. The annual revenue per team for this service is estimated to be RMB1.8 million.
China Petrotech Holdings Limited is a leading technology-based oilfield services provider operating mainly in China. [+]
The group expects net profit to rise at least 57 percent in 2006 due to booming demand and sees revenue and profit nearly doubling in 2007, when the firm moves into a bigger plant that will more than double capacity.
The company, which makes and sells waste treatment devices for textile factories, petrochemical plants and spray-painting companies, saw its first-quarter net profit triple to 44.7 million yuan on the back of higher orders.
Net profit for 2005 was up 57.6 percent at 52.3 million yuan.
Sino Environment Technology Group limited is an environmental protection and waste recovery solution provider in the PRC. [+]
"..Marketing efforts to dominate existing and other promising overseas markets will intensify. These include embarking on strategies to building our own in-house brand names, exercising stringency in cost controls, and continuing to offer more cutting-edge designed products with value-added features along with a sound pricing structure to stay ahead of competition..."
Mr. Bernard Lim
Executive Chairman & Chief Executive Officer
Design Studio Furniture Manufacturer Ltd