Singapore Computer Systems has won a $10m contract to provide application software and IT infrastructure management and support for SPRING Singapore.
The contract will last for a period of 3 years beginning March 1, 2007.
Singapore Computer Systems ("SCS") is a leading information and communications technology service provider in Asia. As the provider of Trusted Services to its customers, SCS empowers organisations with competent IT professionals, using proven processes and living technologies in a timely and cost-effective manner.
Novena has announced the proposed acquisition of their furniture assets and businesses by TT International for a consideration of $13,500,000.
In the proposed transaction, TT International will take over 6 directly and wholly-owned Singapore incorporated subsidiaries including the registered trademarks of Novena, Castilla Premium, Castilla, Castilla Modern, Natural Living, Modern Living and The White Collection.
Completion of the transaction will occur in approximately two weeks if the terms of the sale are satisfied.
The Novena group is in the business of manufacturing, export, wholesale and retail of household furniture and furnishings under four different brands, namely Novena, Castilla, The White Collection and Modern Living. In July 2002, the Group has successfully invested 70% of Leewah Essentials Pte Ltd and NC Essentials Pte Ltd, a leading retailer of beauty and personal care products.
Chemoil Energy Limited Enters a 50-50 Joint Venture with Panama-based International Management Holdings.
The two will establish Belgrave Investors, Corp
Incorporated in the British Virgin Islands.
Belgrave will be the holding company for Pacifico Bunkering Services, S.A. which owns and operates the bunker delivery barge, MT Pacifico Trader in Panama and will hold 100 percent of the shares of Pacifico.
Chemoil are one of the largest and leading integrated physical suppliers of marine fuel products globally. They purchase fuel oil, diesel oil and blend components from national oil companies, refineries, major oil producers and other sources. They transport, store and blend marine fuel, which they sell and deliver to a broad base of customers. These customers include a diverse group of ocean-going ship operators, international container and tanker fleets, time charter operators, marine fuel traders and other customers. They participate in all key stages of the marine fuel supply chain, enabling them to capture margins at every stage.
Zhongguo PowerPlus Industries Limited proposes placement of 70.8m new shares to 8 parties including prominent investors like Sam Goi and Yeo Cheow Tong.
The $14.47m of expected proceeds raised will be used as general working capital.
Zhongguo PowerPlus is principally engaged in the design, manufacture and sale of hand-held agricultural equipment, specifically hand-sprayers, mist-dusters and brush-cutters as well as related components of such equipment.
It has registered 29 patents as at the end of June 2004. Its products are distributed under its "Yongjia" brand to more than 30 provinces, autonomous regions, municipalities and special administrative regions in China and exported to countries such as Bangladesh, Indonesia, South Korea, Malaysia, Singapore and Thailand.
Olam International has incorporated a wholly-owned subsidiary in the Republic of Congo, Olam ROC S.A.R.L.
The subsidiary has a a registered and paid-up capital of 10,000,000 CFA Francs divided into 1,000 shares of 10,000 CFA Francs each.
The core business of the subsidiary will be that of sourcing and production of agricultural products and food ingredients.
The Group produces cocoa ingredients in six countries and supplies its products to customers, including leading international food and beverage companies, in over 30 countries world-wide. It also manufactures, distributes and/or sells branded consumer goods in Indonesia and other countries in Asia and its portfolio of brands includes some products which are leaders in their categories. The Group also distributes third party brands in Indonesia, Singapore and Malaysia, capitalising on its existing distribution channels.
Tat Hong's Tutt Bryant Group Limited pays A$17.8m for Muswellbrook Crane Services Pty Ltd.
The group will also assume Muswellbrook's A$2.9m in finance liabilities.
The sale will be funded by an announced Renounceable Rights Issue with the Rights Issue fully underwritten by ABN AMRO Morgans Corporate Ltd.
The group is principally involved in the rental and sale of cranes and the sale of spare parts for cranes. Apart from cranes, the group is also involved in the rental and sale of other ancillary heavy equipment such as excavators, bulldozers, earth-moving equipment, foundation equipment, piling rigs and generators.
Global Voice Group clinches a contract to provide a mission critical integrated colocation and private fiber network solution to host and network the world's largest Internet Exchange.
GVN owns and operates one of the largest Metropolitan Area Network businesses (MANs) in Europe. Its fiber networks are located in 14 cities. GVN's uses its highly secure networks to provide its clients with IP products and business continuity services, which include disaster recovery services, online data storage and content delivery. GVN's main target industry sectors are the regulatory-driven banking & insurance industry, pharmaceutical and government.
Yoma Strategic Holdings proposes the buying of 370,000 Plantation Resources Pte Ltd's shares.
The transaction will represent a 52.86 percent stake or 15.53m new shares being acquired by Yoma at a consideration of approximately $5.87m.
The Group is engaged in property development, construction and piling services, project management and design services in Myanmar. The Group portfolio of development properties includes apartments, condominiums and bungalows. In property development, the Group manages all the property projects initiated by its group including the provision of detailed budgeting, costing and planning, as well as project management. Its construction services which support its property development business include foundation piling works for various types of buildings and acting as contractor for super-structure construction works. The Group also supplies ready-mixed concrete, sand and shingle to the Myanmar construction industry.
Petra Foods intend to acquire a majority stake in a joint venture with Europe-based Armajaro Holdings Limited.
The company will take a 60 percent stake in the venture for 16m Euro in the JV named Petra Armajaro Pte Ltd.
Petra Armajaro will hold cocoa processing facilities in Germany, France and Holland.
The Group is principally engaged in the manufacture and supply of cocoa ingredients, namely cocoa powder, cocoa butter and cocoa liquor. It also manufactures and or distributes branded consumer products, primarily chocolate confectionery. The Group is one of the world's major manufacturers and suppliers of cocoa ingredients.
"..Business is about taking calculated risks, about the necessary steps we have to take now in order to ensure higher levels of growth in the future. I liken it to the pruning of a tree. Let's say you have a beautiful fruit tree that is bearing good fruits. In order for the tree to grow into an even bigger and more productive tree, we would need to prune it by cutting off leaves and branches. We can spare it from this painful process, but five years down the road, it will begin to lose its productivity and beauty. However, if we prune it now, then in a few years time, it will turn out to be an even bigger tree, bearing bigger and better fruits..."
Kenny Yap, Executive Chairman and Managing Director
Qian Hu Corporation Limited