Raffles Education Corporation Limited Executive Chairman & CEO that has granted performance options of SGD1.63 each to 35 managers for them to exercise up to 1.80 million shares from his personal stake in the Company.
The grant of these Option Shares for vendor shares, assuming they are fully exercised, will not result in any dilution of the existing share capital base, but will reduce Mr Chew Hua Seng's direct and deemed interest in the Company from the current 38.77% to 38.59%.
Under the terms of the agreement, the managers can only exercise the Option Shares provided they remain in REC's employment till 22 November 2007.
RafflesEducationCorp is the leading education group in Asia. [+]
• Signed Agreement for second Build-Operate-Transfer drinking water treatment project from Deqing County Government.
• Total investment for both BOTs in Deqing is US$27.9m with US$6 million still in plan.
• Current outstanding orderbook of S$400m.
Darco is a provider of integrated engineering and knowledge-based water treatment and environmental engineering solutions. [+]
China Essence Group Ltd intends to upgrade and expand its potato starch plants in Suiling, Heilongjiang and Ahlihe, Inner Mongolia, People's Republic of China, by issuing convertible bonds to the aggregate amount of HK$250,000,000, under a Subscription Agreement.
Morgan Stanley, Pond View, Evolution and UBS will subscribe and pay for, or procure subscription and payment for, on a several basis, HK$152,000,000, HK$20,000,000, HK$50,000,000 and HK$28,000,000 in principal amount of the Bonds respectively on 20 December 2006 or such other time or date on or before 15 January 2007 as the parties may agree. The Bonds are irrevocably and unconditionally guaranteed by Huge Glory and Honour Wealth, on a joint and several basis.
China Essence is a leading integrated producer of potato starch and potato starch-based products such as vermicelli, starch strips and five-grain noodles in the PRC. [+]
Asiatravel.com Holdings Limited achieved a record profit attributable to shareholders of S$3.3 million for the financial year ended 30th September 2006 compared to a loss of S$6.4 million in the previous year. This translated into earnings per share of 1.69 cents as compared to a loss of 3.23 cents previously. The strong turnaround is attributable to stronger demand for the Group's services as well as a one-off operating expense incurred in FY2005.
Asiatravel recorded a year-on-year growth of 42% in room nights for its online hotel reservation service for FY2006. The Group expects the up trend in room nights to continue and with the broadening of product offerings.
Asiatravel.com is a pan-Asia online hotel and travel reservation service provider. [+]
Linyi Sanhe Yongjia Power Co., Ltd, the wholly-owned subsidiary of Zhongguo Powerplus Industries Limited, had appointed Mr. PARKIL YONG as Assistant to General Manager.
Mr. PARK holds a Master of Mechanical Engineering Degree from Korea Kyungnam University and has more than 20 years of working experience in product engineering & development, development of small gasoline engine, implementation of small gasoline engine in various products and quality control of small gasoline engines. Mr. PARK would be responsible for product quality control of Sanhe Yongjia.
Zhongguo Powerplus Industries Limited is principally engaged in the design, production and sale of portable power tools including gasoline engines, mist duster and brush cutter. [+]
Sun Business Network Ltd it will be refocusing its business into the regional multi-media space to drive growth, improve its financial performance and increase profitability.
The Group will be rationalising its Greater China assets through the sale of its 100% stake in Wide Angle Press Ltd to Sun Media Investment Holdings Limited and its entire stake in Caijing Times Advertising Corporation, Ltd and Optima Media International, Ltd, to SMIH and Sun 3C Media PLC.
Sun Business Network is involved in magazine publishing in Singapore, Malaysia and Greater China, and holds substantial investment in SNMI and Sun 3C. [+]
• Subsidiary MSF to acquire 75% of Exerion Precision Technology of the Netherlands for €2.0 million; secures advanced automated robotic welding technology.
• Expansion into Eastern Europe to ride on Exerion's operations in the Netherlands and Czech Republic and presence in Central and Eastern Europe.
• MSF acquires property in Suzhou, China, for RMB 8.5 million to expand capacity; will invest another RMB 48.0 million to construct new plant.
• Expansion of metal stamping and tooling activities into Dalian, China.
Magnecomp International Limited performs precision metal stamping, commercial tool & die and component assembly under Mansfield Manufacturing Company Limited for a variety of customers worldwide primarily serving the Consumers Electronics, Office Automation and Automotive industries. [+]
Tiong Woon Corporation Holding Ltd wholly owned subsidiary, Tiong Woon Crane & Transport Pte Ltd, has entered into addendum agreements with IHI Construction Machinery Limited to include new territories for its distributorship.
Under the previous distributor agreement, TWCT was responsible to market IHI's brand of crawler cranes and parts in the region of Singapore, Malaysia and Brunei. Subsequent to the signing of the New Distributor Agreements, the territories shall include new territories covering Vietnam, Thailand, Philippines, Cambodia, Laos and Myanmar.
Tiong Woon Corporation Holding Ltd is a specialist and total integrated services provider in heavy lift, heavy haulage and marine transportation mainly serving the Oil & Gas, Petrochemical and Power industries. [+]
The grand opening of BreadTalk's second Food Republic - food atrium at Singapore's latest shopping and entertainment hub, VivoCity follows after the success of its first Food Republic - food atrium at Level 4, Wisma Atria. The Group currently operates 19 food courts. Recently, three food courts were added in Shanghai, Beijing and Chongqing respectively during the third quarter 2006.
Touted as the latest food haven, it offers a palatable trip back to the good days when street hawkers and pushcart stalls were a way of life. Customers can expect 30 stalls and mini restaurants, all known for their culinary flair, traditional tastes and simple wholesome flavours.
BreadTalk owns and operates 48 bakery outlets in Singapore, the PRC and Thailand. [+]
Net profit for the nine-month period increased by almost 19% to RMB57.4 million on the back of a 24.1% rise in revenue to RMB2.1 billion which was due mainly to the expansion of the Group's customer base to include overseas customers and overall increase in average selling prices of LPG by 19.6%.
Based on the 9M FY06 results, basic earnings per ordinary share rose to 19.6 RMB cents, based on the pre-invitation share capital of 293,288,000 ordinary shares.
Ouhua Energy is the third-largest importer and distributor of Liquefied Petroleum Gas in the People's Republic of China in terms of quantity. [+]
Boustead Singapore Limited wholly-owned subsidiary, Salcon Pte Ltd, has been awarded a S$25 million contract to design and construct the Phase II Extension for the Bedok NEWater Factory by the Public Utilities Board, Singapore's national water agency.
Phase II Extension of the Plant will increase production capacity by 55,000 m3/day, bringing total capacity up to 87,000 m3/day. Upon completion in the second quarter of 2008, the Plant will be the largest NEWater Factory owned and operated by PUB.
The Plant will treat secondary effluent from Bedok Water Reclamation Plant and Changi Water Reclamation Plant to meet the stringent water quality requirements for NEWater.
Boustead Singapore Limited is a progressive global Engineering Services and Geo-Spatial Technology Group. [+]
Meghmani Organics Limited has plans to increase its manufacturing capacity for Pigment Green 7 at its Vatva Ahmedabad plant to meet current strong, and growing, demand for its pigments products.
Manufacturing capacity at its Vatva Ahmedabad plant will be raised from its current 100 metric tonnes per month to 125 MT per month by the end of December 2006, and a further 25 MT per month to 150 MT per month by the end of March 2007. Meghmani's Vatva Ahmedabad plant, which currently manufactures 1,200 MT of PG-7 per annum, is operating at a utilisation rate of 101% as at 30 September 2006.
Meghmani is a manufacturer of pigments and pesticides in India. [+]
SAP Asia, Nanyang Polytechnic and Singapore Computer Systems Limited signed a MOU to launch the Enterprise Technology Innovation Centre in NYP. The collaboration is supported by the Defence Science & Technology Agency and Infocomm Development Authority of Singapore.
NYP will train more than 1,000 students over the next three years by integrating SAP technology into the curriculum, with emphasis on SAP NetWeaver, the technical foundation for enterprise service-oriented architecture.
SAP, NYP and SCS will develop innovative enterprise solutions for SAP customers from various industries, thus involving students in real-life projects and equipping them with the necessary skills to meet the expected increase in demand for SAP professionals specialising in enterprise SOA.
Singapore Computer Systems is a leading information and communications technology service provider in Asia. [+]
China Aviation Oil (Singapore) Corporation Ltd had closed its latest physical Jet Fuel tender for delivery in January 2007.
In the latest tender, CAO received responses from 17 physical jet-fuel suppliers. It has awarded cargoes to 5 suppliers. For this tender, total volume of 355,000 metric tonnes of A-1 Grade Jet Fuel was awarded. The cover ratio for the awarded cargos has increased to 4.2 times from 3.4 in last tender. The tender was awarded to the most competitive suppliers.
China Aviation Oil is involved in the procurement of jet fuel and investment holding in the PRC. [+]
Mr Brett Bundock has been appointed as a director of 87%-owned subsidiary of Boustead, ESRI Australia Pty Ltd. Mr Bundock, who is the current Chief Executive Officer of ESRI Australia, has been redesignated Managing Director of ESRI Australia to reflect his participation in the Board of Directors of the company.
ESRI Australia is part of the Group's Geo-Spatial Technology arm and is the exclusive distributor in Australia of geo-spatial technology developed by global leader, ESRI Inc. As Australia's leading supplier of geographic information systems, ESRI Australia provides clients with GIS solutions that directly address business drivers and deliver maximum advantage.
Boustead Singapore is a progressive global Engineering Services & Geo-Spatial Technology Group with transnational operations. [+]
Oriental Century Limited has been advised that several of its shareholders have agreed to sell an aggregate of 33,499,000 existing ordinary shares, representing 20.16% of the existing issued share capital of the Company, to Raffles Education Corporation Limited at S$0.51 per ordinary share or a total cash consideration of S$17,084,490.
On 1 December 2006, UOB Venture (Shenzhen) Limited, UOB Capital Investments Pte Ltd and six other shareholders, agreed to sell to Raffles Education 13,963,588 ordinary shares, 1,803,412 ordinary shares and an aggregate of 17,732,000 ordinary shares, respectively.
With Raffles Education becoming one of its substantial shareholders, Oriental Century believes that it would be able to build a mutually beneficial partnership with Raffles Education and expedite its expansion plans in the People's Republic Of China as well as in the Asia Pacific region.
Raffles Education is Asia Pacific's leading creative design and management education group.
Oriental Century Limited is principally engaged in the provision of education management services to educational institutions in the PRC. [+]
"…The growth of the Group has been driven by the hard and committed work by our key people. They form the backbone of our business. I am pleased to be able to share some of the fruits of our labour with them. Together, the team and I will continue to strive to deliver greater value for our shareholders…"
Mr Chew Hua Seng
Executive Chairman & Chief Executive Officer
Raffles Education Corporation Limited.