Chuan Hup Holdings Limited announce that in line with the Company's investment activities, it's wholly-owned subsidiary, Cresta Investment Pte. Ltd., has agreed to invest in CH Aggregate Trading, a company carrying on the business of trading and transportation of crushed aggregates in the Middle East, and Sunbest Transco, a company carrying on the business of transportation of armour rock from Oman to Ras Laffan.
CH Aggregate Trading is a company to be incorporated in Cyprus carrying on the business of trading and transportation of crushed aggregates in the Middle East. CHA will have an authorised share capital of US$10.55 million divided into 10,550,000 ordinary shares of US$1.00 each, of which 10,550,000 shares will be issued and fully paid up. CI will subscribe for 4,220,000 shares in CHA for a total consideration of US$4,220,000, to be paid in cash. This represents 40% of the issued and paid up capital of CHA, and will result in CHA becoming an associated company of the Company. Worldwide Rock Investments Ltd, a subsidiary of Dredging, Environmental and Marine Engineering n.v., will subscribe for the remaining 6,330,000 ordinary shares in CHA for US$6,330,000, to be paid in cash.
Chuan Hup Holdings Limited was founded in 1970 as a tug and barge service provider for the PSA Corporation in Singapore. CHH subsequently developed a core competency in the provision of marine transportation services to the mining and energy sectors within the ASEAN region. [+]
The Narongdej family is exiting its long-time core business of auto parts by selling its 57-per-cent stake in KPN Automotive Plc to Aapico Hitech Plc for about Bt1.03 billion.
KPN Group CEO Kris Narongdej said yesterday his family had inked a memorandum of understanding with Aapico Hitech to sell its holding in KPN Automotive for Bt18 per share.
The family, however, has a condition to buy back KPN Warehouse and KPN Logistics from Aapico Hitech for a combined Bt170 million, a buyback which is expected to be completed by the end of the year.
"Mergers and acquisitions have set a trend in the auto industry," Kris said. "It is a natural process. When we talk about mergers, there are only two choices - buyer or seller - but we are the seller this time. The talks took place two weeks ago."
Founded in 1990, KPN Automotive Public Company Limited is now positioned to be Thailand's top forging company. The huge product range includes steering and suspension systems, wheel frames and hubs, ball joints, axles and many different engine parts for vehicles, especially passenger cars, pick-up trucks and motorcycles. KPN Automotive Public Company Limited is manufacturing, developing and diversifying its products and services. [+]
The Board of Directors Of AsiaPharm Group Ltd. is pleased to announce that it's wholly-owned subsidiary, AsiaPharm Investments Ltd. has on 23 Oct 2006 entered into agreement with Best Esteem Investment Ltd. to acquire the CMNa® Business currently carried out by the LifeTech Group together with the entire issued and paid-up share capital of one ordinary share in Best Esteem's wholly-owned British Virgin Islands subsidiary, Onsuccess Limited.
Established in 1994, AsiaPharm today are one of the leading specialty pharmaceutical groups in the PRC specialise in the research, development, production and sale of pharmaceutical drugs and new formulations for chemical drugs, the sale of R&D results and patents for new drugs, and the provision of research services on a contract basis. [+]
Giant Wireless Technology Ltd., announced its commitment to pursue research and development (R&D) in software technology platforms for wireless communications products through the incorporation of a new company between Elite Telecom (B.V.I.) Ltd., a wholly-owned subsidiary of Giant Wireless, and Hong Kong University of Science and Technology R and D Corporation Limited.
The Hong Kong-incorporated company, called Giant Innovation (HK) Ltd., has a paid-up capital of HK$1,000.00 with Giant Wireless holding an equity stake of 85 per cent, while Hong Kong University of Science and Technology R and D Corporation Limited takes a 5% stake, and the remaining 10% be held by third parties.
From a growth perspective, the new subsidiary will enhance Giant Wireless' system integration and technology platform for its communication products, most of which are positioned in the early growth stage of the product life cycle, with potential that have yet to be exploited. Through the new subsidiary, Giant Wireless can better exploit the convergence between the various telecommunications technologies and develop more integrated, wireless products with added functions.
Since commencing its operations in 1988, Giant Wireless Technology has grown to become a leading wireless technology creation company skilled in design, manufacturing, marketing, distribution and brand management. [+]
Biosensors International Group, Ltd., hosted a breakfast meeting, entitled "The New Generation of Drug-Eluting Stents - will they meet the clinical need?" in conjunction with this year's Transcatheter Cardiovascular Therapeutics scientific symposium, which is being held from 22 to 27 October in Washington, D.C.
A webcast of this meeting, which involved presentations by distinguished cardiologists and scientists including Dr. David Holmes of Mayo Clinic, Rochester, Minnesota, Dr. Martin Leon of the Cardiovascular Research Foundation, New York, Dr. Renu Virmani, CVPath, Gaithersburg, and Dr. Miodrag Ostojic of the Clinical Center of Serbia is available on the corporate website at www.biosensors.com. A separate phone conference involving investment analysts and Dr. Renu Virmani and Prof Peter Fitzgerald of Stanford University, Stanford, California was also held after the breakfast meeting. This discussion was focused on the direction of drug-eluting stents and a recording of it is also available at the corporate website.
Biosensor develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents, an evolving therapy that is rapidly gaining market share from traditional therapies such as bare-metal stenting and open-heart surgery. [+]
SP Chemicals Ltd. today announced that it has secured a three-year contract with Basic Chemical Solutions, L.L.C., a U.S.-based global distributor and trader of commodity chemicals, to supply a minimum of 80,000 tonnes of caustic soda per annum.
At the same time, the Group also reported a sterling set of financial figures for three months ended 30 September 2006, with net profit rising an impressive 61% to RMB64.9 million, from RMB40.3 million previously.
SP Chemicals, a Singapore-based company listed on the Main-Board of SGX-ST on 6 August 2003, is the second largest ion-membrane chlor-alkali producer in the PRC, and the third largest aniline producer in the PRC as at 30 June 2006. [+]
Sunshine Holdings Ltd. announces that Ms Feng Aiping has been appointed an Executive Director and President of the Company and its subsidiaries with effect from 26 Oct 2006 and Ms Huang Lili has been appointed as Vice President (HR and Administration) of the Group with effect from 26 Oct 2006 to replace Mr Cao Jianyuan who has resigned from the position of Chief HR and Administration Officer on 26 Oct 2006.
Ms Feng is responsible for the overall management of the business of the Group. Prior to joining the Group, she was an Executive Director at JianYe Housing Group (China) Co., Ltd..
Based in the Henan Province of the PRC, Sunshine is an award-winning cluster estate developer as well as developer of mass residential and commercial properties in selected key cities which are at the budding stage of development with strong urbanization and resettlement potential. [+]
Karin Technology Holdings Limited a diversified and value-added electronic components, integrated circuit software and IT infrastructure solutions provider, today announced that its order book reached a new high after wholly owned subsidiaries -Karin Electronic Trading (Shenzhen) Co. Limited secured two contracts with a combined contract value of RMB 23 million.
The contracts to supply IT products and mobile phone components to a reputable international investment bank and a telecommunication state owned enterprises located in Beijing are expected to be delivered no later than January 2007. The contract values are approximately RMB 12 Million and RMB 11 Million respectively.
Karin is an electronic components and computer products distributor and out-sourcing service provider. Since 1977, we have been principally engaged in the components distribution and trading business for various segments of the electronics industry including the communication, computer, electrical appliances, utility, watch and toy segments in Hong Kong and the PRC. [+]
A-REIT has signed a put and call option agreement to acquire two properties: Super Industrial Building and 26 Senoko Way,
(together the "Properties"), for an aggregate purchase price of S$49 million from Singapore Exchange listed Super Coffeemix Manufacturing Ltd.
The acquisition of the Properties will be accretive to A-REIT's distributable income per unit (DPU) and the pro forma financial effect of the acquisition on the DPU for the
financial year ended 31 March 2006 would be an additional 0.04 cents per unit.
A-REIT currently has a portfolio of 67 properties and has previously announced four proposed investments, worth in aggregate about S$180 million, that have yet to be completed: Separate warehouse retail facilities are currently being built for Courts (Singapore) Limited and Cold Storage Singapore (1983) Pte Ltd which are expected to be completed by November 2006 and March 2007 respectively. A partial build-to-suit business park will be built at Plot 15 Changi Business Park for about $28.6m and is expected to be completed by early 2008, as well as a logistic and distribution facility, currently being built by the vendor, Goldin Enterprises Pte Limited, will be acquired for S$22.5 million in 2008 upon satisfaction of certain conditions precedent.
Click here to view presentation slide. [+]
Memory Devices Limited announced on 15 March 2006, in respect of a conditional Share Exchange Agreement dated 14 March 2005 with TwinMOS Technologies Inc. for the acquisition of up to 205,026,285 ordinary shares of par value NT$10.00 each from the shareholders of TwinMOS.
TwinMOS Shareholders in general meeting, had on 16 May 2006, approved the Share Exchange. All the TwinMOS Shareholders have agreed to participate in and sell their TwinMOS Shares to MD in connection with the Proposed Acquisition. As such, MD will be acquiring all the TwinMOS Shares for a consideration of US$96,801,110 which shall be satisfied in full by the allotment and issue of 375,198,102 new ordinary shares of par value US$0.03 each in the capital of MD.
The Board of Directors of MD is pleased to announce that MD has obtained in-principle approval from the SGX-ST on its application for the listing and quotation of the New Shares.
Memory Devices Limited is in the business of research and development, manufacture and sale of solid state memory storage products for use in personal computers, notebooks, servers and networks as well as a wide array of consumer electronics, industrial and communications applications. [+]
Epure International Ltd. announce that its subsidiary, Beijing Sound Environmental Engineering Co., Ltd has entered into a joint venture with Shanghai Chengtou Environmental Investment Co., Ltd
and Shanghai Yuhe Chemical Materials Co., Ltd.
The joint venture is to manage the operations of water and wastewater treatment plants in Shanghai and is for an initial period of 20 years.
The joint venture vehicle will be a new company incorporated in the PRC - Shanghai Chenghuan Water Operation Co., Ltd. Shanghai Chenghuan will have a registered capital of RMB10 million. Beijing Sound, Shanghai Chengtou and Shanghai Yuhe will hold 20%, 70% and 10% respectively in Shanghai Chenghuan.
Epure is one of the leading turnkey water and wastewater treatment solutions providers in the PRC that is backed by extensive R&D, technical expertise and a proven track record. Epure develops proprietary water and wastewater treatment technologies and customize them into effective turnkey solutions for both industrial and municipal projects. [+]
Ace Achieve Infocom Ltd., has successfully passed the second stage of testing by China Telecom for its 3G repeaters developed internally by its Wireless Coverage Solutions division. The 3G repeaters, based on the TD-SCDMA standard, will be going through the final stage of testing soon, which is expected to be completed by 1st quarter of the next calendar year.
According to statistics from the PRC's Ministry of Information Industry, the amount of infrastructural investment in 2006 up to July amounted to RMB103.2 billion, up 14.5% compared to the previous corresponding period, as telcos geared up in anticipation of the rollout of 3G. The total revenue for the telecommunications industry for 2006 up to July also increased 11.4% to RMB368.2 million, compared to the previous corresponding period. With
a mobile penetration rate of only 32.7% in the PRC at present, there is certainly a high growth potential for the industry especially after the granting of the 3G licenses.
Ace Achieve Infocom Ltd. is a provider of telecommunication solutions and products in the PRC. [+]
EZRA Holdings Limited, a leading integrated solutions provider in the offshore oil & gas industry, more than doubled its net earnings to S$61.7 million for the year to 31 August 2006. The 128% leap from S$27.0 million in FY05 handily beat the most bullish broker estimate.
Group earnings per share also doubled - from 11.6 cents in FY05 to 22.7 cents in FY06, while return on average equity (ROE) jumped from 26% to 38%. EZRA's active capital management as it expanded its fleet and service range halved gross gearing to 0.7x from 1.4x in FY05. Interest cover also improved to 15.7 x in FY06 (5.8x in FY05).
EZRA Holdings was listed on SESDAQ on 8 August 2003 and promoted to the Main board on 8 December 2005. The Group is unique in the offshore oil & gas industry with its integrated range of support vessels for charter across a broad spectrum of the oil & gas offshore support supply chain. EZRA's businesses are classified into offshore support and marine services. [+]
Olam International Ltd and Archer Daniels Midland Company ("ADM") have concluded a joint acquisition of Usicam, Cameroon from SAGA SA, France, a Groupe Bolloré company. In addition, Usicam has acquired the cocoa processing assets of SDV, Cameroon - another Groupe Bolloré company. OIL and ADM will each own 50% of Usicam.
OIL and ADM plan to further upgrade and enhance the plant to meet their objective of achieving additional quality processing of cocoa beans. Usicam will be one of the largest usines for cocoa drying, cleaning, warehousing and other related activities in Cameroon. Usicam will be integral in securing high quality Cameroon cocoa beans for both the companies.
Olam is a leading global integrated supply chain manager of agricultural products and food ingredients. Today, the Company manages an integrated supply chain for 14
agricultural products with a direct presence in 52 countries, supplying these to over 3,800 customers in more than 55 destination markets, and employing over 6,300 employees worldwide. [+]
United Test and Assembly Center Limited a leading independent global provider of semiconductor assembly and test services announced today its financial results for the quarter ended 30 September 2006 ("3Q06").
- 3Q06 revenue grew 91.9% over 3Q05 to $162.0 million
- 13th consecutive quarter of sequential revenue growth and profitability
- 3Q06 results included full quarter contribution from UTAC Thailand
- Guidance of 0% to 5% sequential revenue growth in 4Q06 over 3Q06
United Test and Assembly Center Ltd is a leading independent provider of semiconductor assembly and testing services for a broad range of integrated circuits including memory, mixed-signal, logic and radio-frequency ICs. [+]
"…We are optimistic about the Group's prospects going forward. The rollout of 3G will give the Group another additional boost to our growth. With our 3G repeaters passing the first 2 stages of testing, we are another step closer to tapping into the enormous growth potential of the 3G market…"
Mr Deng Zelin