KS Energy Services Limited has entered a sale and purchase agreement for Atlantic Oilfield Services Ltd.
The acquisition will include the company itself which is listed on the Olso Over-the-counter Stock Exchange, its operating contracts and related assets all for a consideration of US$80,000,000.
Sphinx Frontier Ltd, the special purpose vehicle incorporated solely for the purposes of acquiring Atlantic Oilfield Services has made offers to all shareholders of the company. As of the date, Sphinx has received full acceptances of its offer for the entire issued and paid up capital of Atlantic Oilfield Services.
KS Energy Services Limited (formerly known as KS Tech Ltd) was established in 1974 by Executive Chairman Mr. Tan Kim Seng. Listed on SGX-SESDAQ on 6 August 1999 and upgraded to the Mainboard on 11 March 2002, KS Energy is an energy services group catering to the oil & gas and petrochemical industries worldwide. In addition to distributing more than 60,000 oil & gas related products that encompass over 140 international brands, the Group through a series of acquisitions in the last few years enhanced its expertise in the related services of procurement, distribution, engineering and offshore chartering to support its customers. Over the last two decades, the Group has established very close working relationships with major oil & gas companies in the region. In leveraging its enhanced expertise as a leading one-stop supply and services provider with these long term relationships, KS Energy was able to provide higher value-added services by procuring and supplying refurbished offshore rigs to CNOOC Group, Maersk and others under the four existing rig related contracts secured in the last 16 months. Headquartered in Singapore, the Group has subsidiaries and representative offices in China, Vietnam, Thailand, Qatar and Malaysia.
Singapore Windsor Holdings Limited announced the purchase of 51% interest in Taiwan 3DCircuit Industrial Co. Ltd, a firmed based in Taiwan specialising in the research and development, manufacture and sales of 3D Module Interconnect Devices related products.
The purchase of 51% stake in Taiwan 3D-Circuit Industrial Co. Ltd shall be completed via the cash injection of an estimated S$1.2 million, to be funded from the proceeds of the Group's initial public offering.
The rationale behind the acquisition is to move Singapore Windsor up the value chain and to develop closer linkages with higher tier customers in the electronics industry.
Located in Shenzhen and Kunshan in the PRC, Hong Kong-based Singapore Windsor Holdings Limited serves component and Printed Circuit Board ("PCB") makers in the dynamic end-product markets of telecommunications, automobile and consumer electronics.
Sihuan Pharmaceutical Holdings Group Ltd. wishes to announce that its wholly-owned subsidiary, Hainan Sihuan Pharmaceutical Co., Ltd has entered into a Share Transfer Agreement on 28 May 2007 to acquire the remaining 49% equity interest comprising 2,940,000 shares of RMB1.00 each in the capital of Hainan Sihuan Cardiocerebral Vascular Drugs Research Institute Co., Ltd
Hainan Youbang Fukang Drugs Research Institute Co., Ltd at a total cash consideration of RMB2,484,693.95. Upon completion of the abovementioned acquisition, Hainan Sihuan CVD Research will become a wholly-owned subsidiary of Hainan Sihuan, which is wholly-owned by the Company.
The Total Consideration which is payable in full on completion of the acquisition is arrived at on a willing buyer willing seller basis, based on the valuation of Hainan Sihuan CVD Research as at 8 May 2007, as determined by an independent valuer, Hainan Haixin Accountant Affairs Office.
A leading pharmaceutical company in the field of cardiocerebral vascular drugs in the PRC, Sihuan Pharmaceutical Holdings Group Ltd focuses on the research and development (R&D), production as well as sales and marketing of cardiocerebral vascular (CV) and noncardiocerebral vascular (NCV) drugs in different forms and dosages.
Tiong Woon Corporation Holding Ltd’s wholly owned subsidiary, Tiong Woon Thai Co., Ltd has entered into a contract with CTCI (Thailand) Company Limited, for a contract sum of 119.5 million Baht.
The agreement is to provide heavy equipment transportation and erection services for the Bangchak Refinery Plant located in Bangchak, Thailand.
Under this project, Tiong Woon is responsible to transport the heavy equipment from the jetty to the project site and erect the heavy equipment at the refinery plant. The company will be required to deploy its 1 unit of 1000-ton crawler crane, 600-ton crawler crane and 300-ton crawler crane for the erection works on site.
Tiong Woon is a one-stop integrated service specialist in heavy lift, heavy haulage and marine transportation. The Company has operations in Singapore, Thailand, Malaysia, Philippines and Indonesia and serving various markets in the Asia Pacific region.
Sino-Environment Technology Group Limited is pleased to announce that the Group has signed a Memorandum of Understanding (MOU) with Huadian Quanzhou Shishi.
Huadian Quanzhou Shishi is building a new 2 x 600 Mw capacity power plant in Quanzhou, Fujian Phase one of the construction is scheduled to commence construction in 2008/2009. The total cost of investment is expected to be approximately RMB5 billion.
The MOU provides for the construction of desulphurization/denitogenation and waste water treatment facilities for this power plant by the Group. The contract value is estimated to be approximately RMB300 million to RMB400 million which will be finalized upon the completion of technical evaluations.
Revenue from this contract will be recognized over the contract period in accordance with the Group’s revenue recognition policy, which is based on the percentage of completion method. The period of the project is expected to be 18 to 24 months.
Sino Environment Technology Group Limited is an environmental protection and waste recovery solution provider in the PRC. SinoEnv is the market leader in the treatment, management and recovery of volatile organic compounds ("VOC"), in particular toluene, from waste gas. The company’s decision to focus on toluene is due to its high commercial value and wide usage by many industries, thereby resulting in good market potential for the treatment, management and recovery of toluene in various industries. In this respect, the company helps customers to achieve the twin objectives of treating polluting waste gas as well as recovering valuable toluene for use in their manufacturing processes.
Sun Business Network Ltd has entered into a Sale and Purchase Agreement with Mr Lawrence Liaw Shoo Khen, Ms Koh Siang Ling Alina, Mr Tan Jeck Min and Strategic Worldwide Assets Limited to acquire the entire issued and paid up share capital of Sandz Solutions (Singapore) Pte Ltd for S$36 million.
Sandz is a Pan-Asian regional enterprise business solutions group.
The total consideration of S$36 million will be satisfied through cash and the issue of new SBN ordinary shares at S$0.06 each.
Sun Business Network is a leading homegrown publisher of special interest magazines with publishing activities in Singapore and Malaysia. The company has recently gone through a repositioning and aims to build itself as a leading regional media, marketing and communications company by way of mergers, acquisitions and strategic investments.
Koh Brothers Development Pte Ltd, a wholly-owned subsidiary of Koh Brothers Group Limited, together with Heeton Land Pte Ltd, a wholly owned subsidiary of Heeton Holdings Limited today unveiled the name and concept of its freehold luxury apartment development to be located in the prime Leonie Hill area.
Built on 34,516 square feet of land, The Lumos will consist of 53 residential units ranging from 1-bedroom apartments to 3- and 4-bedroom apartments and duplexes. The top floor of each tower will also house a penthouse complete with rooftop garden and private lap pool. Unit sizes are expected to range from approximately 635 square feet for 1-bedroom apartments to 6,000 square feet for the penthouses.
The Lumos consists of two 36-storey towers connected by a central zone of vertical Sky Gardens. Each residential unit is detached from the communal and service areas housed in the central core. With Sky Gardens connecting each level (except on Duplexes, where they alternate), every unit opens onto a landscaped plot of green communal garden space.
The Group is currently engaged in the following activities in Singapore:-
i. development and sale of private residential properties;
ii. investment in residential, retail and commercial properties;
iii. operation of markets; and
iv. management of residential, retail and commercial properties.
Kingsmen Creatives Ltd. wishes to announce that the Company has entered into a conditional sale and purchase agreement with Mr Khoo Chi Siang, Terence to acquire a 30% interest in the share capital of Enterprise Sports Group Pte Ltd (ESG) . The principal activities of ESG are sports marketing, provision of consultancy services and event management. ESG has a subsidiary, ESG Competition Services Pte. Ltd., in which it holds a 60% equity stake.
Pursuant to the terms of the S&P, the share capital of ESG will be increased to S$200,000 comprising 200,000 ordinary shares, prior to the completion of the Acquisition. Accordingly, on completion of the Acquisition, the Company will be the holder of 60,000 Shares in ESG and ESG will be an associated company of the Company.
The consideration for the acquisition is S$585,000 and was arrived at on a willing seller-willing buyer basis. The acquisition will be funded by internal resources.
Kingsmen specialise in the design and production of exhibits for exhibitions, museums, visitor centres, events, promotional functions and festivities, as well as the design and production of interiors for retail stores, eateries, corporate offices, showrooms and other commercial interiors.
BreadTalk Group Limited wishes to announce that its wholly-owned subsidiary, Topwin Investment Holding Pte Ltd has incorporated a wholly-owned subsidiary in Malaysia by the name of “Megabite Eatery (M) Sdn. Bhd.”
Megabite Malaysia has an authorised capital of RM500,000 divided into 500,000 ordinary shares of RM1.00 each and an initial paid up capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each.
Megabite Malaysia will undertake the direct Food & Beverage Business in food atria and any other food and beverage concepts that the Group may invest in Malaysia.
The Company was incorporated in Singapore on 6 March 2003 as an investment holding company. It operates its chain of retail outlets selling breads, buns, cakes and pastries through its principal subsidiary, BreadTalk Pte Ltd. Currently, the Group has 23 retail outlets and to complement its operations, it also operates a central kitchen at Kampong Ampat that prepares and distributes fillings for its breads and buns, and bakes cakes and pastries for distribution to its various retail outlets island-wide. The Group also recently diversified into the restaurant business, opening the world-renowned Din Tai Fung restaurant which was rated by The New York Times as one of the world's Top 10 best restaurants in 1993.
C&O Pharmaceutical Technology Limited has established Changao Bio-tech Development Co., Limited a wholly foreign-owned enterprise in Nanjing, PRC. The enterprise has received the certificate of approval and business licence from the local government.
Changao Bio-tech has a registered capital of US$2,600,000 to be paid up in cash 3 months from the date of issue of the business licence. The principal activities of the enterprise are to function as an additional research and development centre for C&O.
The enterprise was funded by net proceeds from the placement of 43,360,000 new ordinary shares of C&O to CMIA Capital Partners (Cayman) Limited.
The Group is engaged in the marketing and selling of third-party pharmaceutical products in China, and the manufacturing, marketing and selling of its own pharmaceutical products (including, in particular medicinal products) under its "C&O" brand name in China. In addition, the Group also carries out research and development and sells technical know-how in relation to pharmaceutical products.
United Envirotech Ltd’s subsidiaries in China, NOVO Envirotech (Guangzhou) Co Ltd and Novo Envirotech (Tianjin) have secured two engineering contracts worth a total of RMB 40 million from China National Petroleum Corporation (CNPC)’s Harbin Branch and China Petrochemical Corporation (Sinopec)’s Jinling Branch.
These two contracts have brought the total project value announced by the Company in the past four months to RMB 210 million. The new contracts require UEL to supply water treatment systems using its advanced MBR technology to treat and recycle refinery wastewater.
The projects will start immediately and will be completed by 2008.
The Group is an environmental solution provider in China focusing on water treatment and environmental consultancy. The Group has provided environmental solutions to customers in the chemical, petrochemical, pharmaceutical, food & beverage and textile & dyestuff industries as well as to wastewater treatment companies. The Group provides the following types of environmental solutions to its customers: -
Environmental Engineering Solutions:
The Group designs and implements integrated systems using membrane technology for environmental engineering solutions to address the specific needs of its customers.
Environmental Consultancy Solutions:
The Group provides consultancy services and training in the management of Environmental Health and Safety (EHS). The Group assists its customers to set up a framework that allows them to proactively identify their EHS problems and put in place effective control measures. This will help customers to manage potential risks and improve their EHS performances.
Portek International Limited has won a series of contracts from across the world, servicing diverse markets in Columbia (South America), Sri Lanka, Singapore and Malaysia.
The Columbian contract consists of the repair of one quayside container crane in the port of Buenaventura. Buenaventura is a thriving port on the Pacific coast of Colombia. In Colombo, Sri Lanka, Portek has been awarded a contract to supply and install Position Determination System (PDS) and Radio Data System (RDS) to the Sri Lanka Ports Authority (SLPA).
In Singapore, PSA has awarded two contracts to Portek to perform upgrades to two units of quayside container crane, as well as to repair and upgrade two units of yard container cranes. Portek was also contracted to relocate a quayside container crane within the Port of Tanjung Pelepas, Malaysia, in the second half of financial year 2007.
The Portek Group is one of the leading providers of equipment, engineering services and solutions to the global port industry. Portek's engineering activities include the leasing and sale of equipment, turnkey contracting for the modification, modernization, and maintenance of port facilities, and the distribution and supply of crane and electric control components. Portek is also a port operator managing and developing terminals in Indonesia and Algeria. Headquartered in Singapore, Portek operates globally with offices in Europe, USA, Asia, Middle East and Africa.
Stamford Tyres Corporation Limited wishes to announce that the Company has increased its equity interest in the capital of Stamford Tires Distributor Co., Ltd (STD), a company incorporated in Thailand, by acquiring the balance of 151,496 shares in the capital of STD, representing 15.1% of its equity for a total consideration of Baht 15,149,600.
Acquisition is financed by internal sources and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the Group for the current financial year ended 30 April 2007.
Following the acquisition, the Company's equity in STD is increased from 84.9% to 100%, making it a wholly owned subsidiary.
Established in the 1930s, Stamford Tires is today a major tire distributor and wheel manufacturer. The Group provides integrated value-added services including international distribution, retail operation, and fleet/mining tire management services. The Group is active and growing in its alloy wheel manufacturing and proprietary tire brand outsource manufacturing.
“..With the increasing outsourcing trend for Low Volume-High Mix [LVHM] precision engineering components, we are optimistic about the outlook for our non-HDD business. The challenge lies in our ability to spot and seize the outsourcing opportunities that fit in with out unique capabilities. Currently, we are the market leader for contract manufacturing of gas lasers used in bio-medical, security and semiconductor applications, and we will explore more opportunities to extend our expertise to other forms of lasers. In addition, we have also penetrated the aerospace and scientific instrumentation sectors and secured orders from three customers who are outsourcing to Asia for the first time. This has set a strong foothold for our future expansion into these niche sectors that have high barriers to entry due to the strong technical expertise and long qualification period required.”
Teh Bong Lim, Managing Director
MMI Holdings Ltd