Autron Corporation Limited announced that IFS Capital Limited will take a 25% stake in subsidiary Autron Investment Co. Ltd. The purchase will take place for a consideration of RM 10 million via the acquisition of 1,021 ordinary shares of par value US$1 each. IFS has also agreed to subscribe to additional new shares in Autron Investment.
Austron Investment, the investment arm of Autron has recently entered into a joint venture with Middle East and Malaysian investors to form Swan Symphony Sdn Bhd. (SSSB) Afterwhich, SSSB has entered into a Share Purchase Agreement with the Eastern and Oriental Berhad (EOB) to acquire 68,604,274 ordinary shares in Putrajaya Perdana Berhad. (PPB) These make up 50.6% of PPB’s issued and paid up capital, which is currently held by EOB and its wholly-owned subsidiaries. PPB’s principal subsidiary, Putra Perdana Construction Sdn Bhd specialises in construction activities, which ranges from design and building of residential buildings and high-rise commercial offices to the undertaking of infrastructure projects.
IFS Capital Limited is an established financial services group listed on the Main Board of the Singapore Stock Exchange. IFS is involved in commercial and structured finance, private equity investments as well as credit insurance, bonds and guarantees. IFS has operations in Indonesia, Malaysia and Thailand.
Autron Corporation Limited is the largest fully integrated supplier and exclusive distributor of assembly equipment and services to some of the world's most recognizable names in the electronics industry today - including Philips, Motorola, Nokia, Acer, Flextronics, Seagate, Haier and more.
AusGroup Limited’s Singapore subsidiary Cactus has received a letter of intent from Aker Kvaerner to supply valued-added services (under technical collaboration with Aker Kvaerner’s subsea division) to build its Riser Telescopic Joint. The work scope will involve welding, heat treatment, machining, coating, assembling and testing of the Riser Telescopic Joint. The initial supply contract value is worth S$7 to S$10 million.
The riser telescopic joint is specialised equipment at the upper section of the drilling riser string that connects the drilling rig platform to the sea bed structures. This specialised equipment facilitates vertical movement of the drilling vessel in drilling operations.
Aker Kvaerner’s subsea division is a leading provider of subsea driller riser solutions for the oil and gas industry. The company will be working closely together with Cactus to ensure critical quality and delivery requirements are met.
The Ausclad Group of Companies supplies total engineering solutions including fabrication, structural & mechanical installation and maintenance across a variety of industries.
With diversity our primary strength in a highly competitive and ever changing commercial environment, we pride ourselves on a track record of excellence - consistently completing projects to time-frames, and to budget, no matter the scope or demands.
Gems TV Holdings Limited (Gems TV), through its subsidiary GemsLondon Ltd., has signed a broadcast agreement with Japan’s Sky Perfect Television to broadcast the Company’s reverse auction programs to its network subscribers. In time for the holiday shopping season this year, Gems TV’s programs will be broadcast 24 hours a day, 7 days a week on Sky Perfect Television’s Channel 243 to 3.2 million subscribers throughout the country.
This latest development follows Gems TV’s earlier announcement on having obtained approval from the Japanese Ministry of Internal Affairs and Communications to be registered as a broadcaster for telecommunication services.
The launch of Gems TV’s programs in Japan marks the Company’s maiden entry into the Asian TV shopping market. Besides Japan, Gems TV’s programs are broadcast in US, UK and Germany.
Gems TV Holdings Limited (GemsTV) specializes in manufacturing genuine colored gemstone jewelry in exclusive handcrafted designs which are sold directly to customers through a "reverse auction'' system via television home shopping and the Internet. GemsTV eliminates the need for multiple intermediaries by vertically integrating the traditional gemstone and jewelry supply chain.
FerroChina Limited (FerroChina or the Group), announced the establishment of a new service centre in Tianjin to target the fast growing market in Tianjin Binhai New Area. This new initiative is expected to pave way for the Group to penetrate into Northern China and contribute positively to the Group’s revenue estimated to be RMB500 million.
In addition, with the acquisition of Superb Team having cleared with the Securities Industry Council and garnered the support of all warrant holders of Superb Team, the completion is targeted to be in October. Going forward, the Group will need to purchase approximately 3.5 million metric tonnes of Hot Rolled Coil. It has entered into a definitive supply agreement with Tianjin No. 1 Steel Group Co Ltd, a company controlled by the Tianjin Municipal Government. FerroChina expects to save approximately RMB60 million annually resulting from the joint procurement of 600,000 metric tonnes on the enlarged group basis.
The supply agreement is for 600,000 metric tonnes covering a 3-year period from 1 August 2007 to 1 August 2010, with an option to renew, subject to mutual agreement.
FerroChina, a PRC-based company listed on the Main board of SGX-ST on 19 May 2005, is a leading manufacturer of galvanized steel coils in Asia. Today, under the leadership of an international management team, FerroChina is one of the largest independent flat steel value-added processors in China, with an annual
group processing capacity of 900,000 metric tonnes (mt)
Shanghai Asia Holdings Limited (the Company or SAH) is pleased to announce that
the Company has through its wholly-owned subsidiary, Shanghai Asia Company Pte Ltd (SACPL) entered into a joint-venture with
Shanghai Enyuan Industrial Co., Ltd (Shanghai Enyuan) and pursuant thereto, both parties have established a Sino-foreign joint venture company, Jiangyin Zhongen Lamination Materials Co., Ltd (JLMC) in the Peoples' Republic of China (PRC).
LMC was incorporated with a registered capital of US$0.6 million. SACPL has a 52% equity interests in registered capital of JLMC, whilst the remaining 48% equity interests are held by Shanghai Enyuan. The total proposed investment of JLMC is US$0.8 million. The principal activity of JLMC is the manufacture and sale of polyester (often referred to as “mylar”) laminated foils. Mylar laminated foils are used mainly in packaging and food applications, insulating materials, electronic and acoustic cable wrappings. JLMC will utilise the thin aluminium foil manufactured by the SAH Group’s associate, Jiangsu Zhongji Lamination Co., Ltd and its subsidiary, Jiangyin Aluminium Industries Co., Ltd. for the production of mylar laminated foils.
Shanghai Enyuan is a major reseller and distributor of polyester laminated foils in the PRC and has been actively involved in many aspects of the aluminium industry: domestic trading, processing, investment and international business. It is the main agent for many major manufacturers’ products such as beer wrap foil, household foil, container foil, heat seal foil, pharmaceutical foil, decorated foil, fin stock, cable wrap foil, cigarette foil and food packaging foil. The company is based in Shanghai and has established sales branches in Nanhai, Suzhou, Kunming, Wenzhou, Guiyang and Hong Kong.
Shanghai Asia is one of the pioneers specialising in gravure printing of cigarette paper packaging for leading cigarette brands of the major cigarette manufacturers in the PRC.
CNA Group Ltd (the Company) refers to its announcement on the 26th June 2007 wishes to
announce that it has completed the formation of the joint venture with Tawjeeh Services And Commercial Investments Co. Ltd (Tawjeeh), an affiliate of Saudi Economic & Development Co. Ltd
(SEDCO), in respect of the wholly-owned subsidiary of the Company, CNA Integrated Technologies, LLC (CNA Integrated). PacificQuest, a controlling shareholder of the Company is an affiliate of SEDCO.
Following the completion of the aforesaid joint venture (the CNA-SEDCO Joint Venture), the
Company and Tawjeeh beneficially own 50% plus 1 share and 50% less 1 share of the total share capital of CNA Integrated respectively. The acquisition of additional shares in CNA Integrated by the Company and/or its nominee was funded from the proceeds of the issue of shares by the Company to PacificQuest, an affiliate of SEDCO, which was completed on 10 April 2007.
The CNA-SEDCO Joint Venture is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 December 2007.
CNA Group Ltd. is an award-winning specialist in the provision, design, implementation and maintenance of advanced integrated control and automation systems and IT solutions that enable intelligent buildings and facilities. We are primarily focused in the turnkey development of integrated control and automation solutions, the provision of system maintenance and value-enhancement services and the sale of environmental control and engineering products.
Chemoil Energy Limted announced that it has become the first provider of marine fuel supply services in the Gulf of Mexico for over five years. The operation will enable Chemoil to expand its customer base to include companies that operate fleets of Very Large Crude Carriers (VLCCs), thereby increasing sales volumes and developing market share. At the same time, the offering will help tanker owners and operators to achieve significant operational efficiencies that have a positive impact on their bottom-line.
Operated by Chemoil Latin America, the new service commenced during the first week of August 2007 and will allow VLCC owners to receive marine fuel while they work cargo in the Lightering Zones off the U.S. Gulf Coast, rather than sourcing fuel separately in traditional supply locations in the Caribbean. In addition to the advantages of saving time and reducing costs through consolidating lightering and refueling operations, customers will also benefit from competitive fuel prices, therefore making further cost savings.
Fuel deliveries will be made by a Chemoil time chartered 17,000DWT tanker. Built in 2006 this tanker is double-hulled and fully equipped and manned for safe and efficient ship to ship operations. All deliveries will be Marpol-compliant and will meet HSE standards. Furthermore, the vessel's fast pumping capabilities of up to 1,000 metric tonnes per hour will enable Chemoil to reliably supply customers with large quantities of fuel quickly to optimise service efficiency, avoid delays and enable the company to maximise potential sales volumes.
Chemoil is one of the world's largest and leading integrated physical suppliers of marine fuel products, delivering over 13 million tonnes of fuel in 2006. The company has a global presence with integrated operations in Los Angeles, New York, Houston, Singapore, Panama and the ARA region (Antwerp, Rotterdam and Amsterdam). It owns or leases strategic assets including terminal capacity for fuel storage and blending, and barging facilities for marine fuel delivery. Chemoil employs over 200 staff in various offices in the United States, Singapore, Panama, Netherlands, Monaco and India. It participates in all key stages of the marine fuel supply chain, as well as markets and sells jet fuel, unbranded gasoline and diesel fuel.
China Aviation Oil (Singapore) Corporation
Ltd (CAO) wishes to announce that the non-binding Memorandum of Understanding (MOU) which it entered with its parent company, China National Aviation Fuel Group Corporation (CNAF) and BP Investments Asia Limited (BP) regarding the possible injection of operating assets by CNAF and BP into CAO, will expire on 28 October 2007. The MOU was executed concurrently with the investment agreement entered into by the parties in relation to the equity restructuring of CAO.
On 5 December 2005, CAO, CNAF and BP signed the MOU with the view to increasing CAO’s asset base, earning capacity and prospects, and thereby further enhancing shareholder value. Since then, CAO, CNAF and BP have been in active discussions to identify suitable assets that are synergetic and complementary to CAO’s business for injection into CAO.
Any such asset injections would be considered interested person transactions and would be subject to valuation on a fair market basis and the requirements of the listing rules of the Singapore Exchange Securities Trading Limited.
China Aviation Oil (Singapore) Corporation Ltd ("CAO") was incorporated in Singapore on 26 May 1993. It was listed on the mainboard of the Singapore Exchange Securities Trading Limited on 6 December 2001.
The single largest shareholder of CAO is China National Aviation Fuel Group Corporation ("CNAF"), formerly known as China Aviation Oil Holding Company ("CAOHC") or China National Aviation Fuel Holding Company, one of the largest state-owned enterprises in China. CNAF owns 51% of the Company's shares. BP Investments Asia is a strategic investor of CAO, owning 20% of CAO shares. Aranda Investments Pte Ltd, a subsidiary of Temasek Holdings Pte Ltd, currently owns 4.65% of CAO shares. The Company's current principal activities are jet fuel procurement and investment holdings in strategic oil-related businesses. CAO is preparing to resume trading of oil-related products when it has put in place all appropriate risk management and organisational system and structures.
Global Voice Group, (SGX: H23.SI), owner and operator of one of Europe’s highest capacity fiber networks and provider of mission critical infrastructure and services, today announced that it has signed a deal with LHB (Internationale Handelsbank Aktiengesellschaft).
Under the terms of the agreement, Global Voice have provisioned Metro|nex, connecting LHB’s headquarters to a highly secure disaster recovery facility via dedicated Ethernet, and delivering Tier 1 IP connectivity for the most secure and highly available Internet access.
LHB, part of the NLB Group, is one of Europe’s largest financial institutions specialising in providing financial services to companies in Eastern Europe. Operating in a highly regulated sector LHB required a highly secure and highly redundant communications solution connecting their headquarters with their disaster recovery site. Global Voice enabled LHB with a dedicated Ethernet solution for the secure and speedy back up and storage of critical data. To further enhance LHB’s communications, Global Voice Group deployed Tier 1 IP Transit for the fastest, most reliable Internet access with minimum contention.
Metro¦nex is the Global Voice Group’s metro based solution designed for companies that need to link multiple offices, locations or exchanges for the real-time sharing of applications, speedy transfer of data or the storage and replication of data. Metro¦nex is deployed over dedicated fiber for unrivalled security and scalablilty.
Global Voice Group owns and operates one of Europe’s highest capacity fiber networks and provides mission critical communication infrastructure and services to large corporations, carriers, and service providers. Constructed at a cost in excess of €1.3 billion, Global Voice’s all-fiber optic network uniquely combines ‘long-haul’ inter-city network linking Europe’s largest economies, with high density ‘last-mile’ metropolitan fiber networks in 15 of Europe’s leading cities.
Rickmers Trust Management Pte. Ltd. (RTM), the trustee manager of Rickmers Maritime, is pleased to announce that it has entered into a memorandum of understanding to acquire four 13,100 TEU container vessels (the Vessels) from Polaris Ship management Company Limited (Polaris). This is pursuant to the right of first offer granted to RTM through the Omnibus Agreement dated 24 April 2007 entered into among (1) RTM (acting on behalf of Rickmers Maritime), (2) Rickmers Holding GmbH Cie. KG, (3) Pacific Holdings International GmbH & Cie. KG and (4) Mr. Bertram R. C. Rickmers. These new acquisitions will increase Rickmers Maritime’s current total contracted fleet capacity by 128% from 40,910 TEU to 93,310 TEU. The Vessels are scheduled to be delivered from Hyundai Heavy Industries Co., Ltd. (HHI) in South Korea between August and November 2010.
Each of the Vessels will commence service upon delivery with a 10-year, fixed-rate time charter to A.P. Møller - Mærsk (the Charterer), trading for Maersk Line, which is the world’s largest container liner shipping company in terms of current capacity and order book. Upon expiration of the initial 10-year charter period of each Vessel, the Charterer has 2 consecutive options to extend the charter period for an additional 30 months each. The Vessels have been chartered out at attractive hire rates, which for competitive reasons cannot be disclosed at this time. The purchase of the Vessels is expected to be accretive to Rickmers Maritime’s distributable cash flow once the Vessels are delivered and in operation. The transaction will increase
Rickmers Maritime’s current aggregate contracted revenue to approximately US$1.4 billion.
The Vessels will be built based on HHI’s new design for 13,100 TEU vessels. The design
maximises the number of containers that can be loaded, while at the same time meeting the new International Maritime Organisation’s regulations for the placement of fuel tanks inside the double hull of a vessel. With a length of 366 metres, breadth of 48.2 metres and a cargo carrying capacity of 140,530 metric tonnes, the Vessels are among the largest container vessels to be built. Powered by MAN B&W 98,250 horsepower engines with improved fuel efficiency, the Vessels’ service speed will be 24.7 knots.
Rickmers Maritime is a newly constituted Singapore business trust formed with the objective of owning and operating containerships under long-term, fixed-rate charters to container liner shipping companies.
Rickmers Maritime’s asset portfolio, both owned and contracted, consists of 14 containerships including the four 13,100 TEU vessels announced today. Its current fleet in operation comprises 6 vessels ranging between 3,450 TEU and 5,060 TEU.
Managed by Rickmers Trust Management Pte. Ltd., Rickmers Maritime aims to provide its
Unitholders with regular quarterly cash distributions. Rickmers Maritime intends to grow its fleet through accretive acquisitions, in order to increase distributable cash flow per Unit.
Midas Holdings Limited (Midas), one of the leading manufacturers of aluminium alloy extrusion products and polyethylene pipes (PE Pipes) for infrastructure and transport industries in the PRC, announced today that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd has secured a RMB 50.2 million contract from Changchun Railway Vehicles Co., Ltd to supply aluminium alloy extrusion profiles for 32 train sets (1 train set = 6 train cars), an equivalent of 192 train cars for the Shanghai Metro Line 7 project.
Midas is the sole supplier of aluminum alloy extrusion profiles for this project.
The contract, which is expected to be fulfilled between 2007 and 2009, will have a positive impact on the Group’s 2007, 2008 and 2009 financials.
Founded in 2000, Midas is today a leading manufacturer of aluminium alloy extrusion
products and PE pipes, primarily for the transportation and infrastructure sectors in the
PRC. The Group operates three business divisions; namely, Aluminium Alloy, PE
Pipe and Agency and Procurement. Midas is the only PRC certified supplier to the world’s largest train manufacturers, ALSTOM SA, Siemens and Changchun Bombardier. Midas’ customers include ALSTOM Transport SA, Siemens International Trading Ltd, Bombardier Transportation, Changchun Railway Vehicles Co., Ltd, etc. The Group is also involved in high profile projects such as the Beijing – Tianjin High Speed Train Project, Regional Line Phase 1 Project, Shanghai MRT Line 1 Extension Project, Shanghai MRT Line 1 Extension 2 Project, Shanghai Line 2 Extension 1 Project, Shanghai Yangpu MRT Line Phase 1, Shanghai Metro Line 9 Project, Shanghai Pearl Line Project, Shenzhen MRT Line 1 Extension Project, Guangzhou MRT Line 3, Tianjin MRT, Nanjing MRT, Shanghai Metro Line 7 Project, the Circle Line project in Singapore, Metro Oslo MRT in Norway, Valero Rus Project in Russia, Desiro Mainline Project in Germany, Helsinki-St. Petersburg Project, Beijing Airport Terminal 3 and the Shenzhen Exhibition Centre. Midas also has a 32.5% equity stake in a Sino-foreign joint venture, Nanjing SR Puzhen Transport Co., Ltd, to engage in the development, manufacturing and sale of metro trains, bogies and their related parts.
Sinomem Technology (the Company), a global leading membrane process and engineering company, is pleased to announce that the Company has secured four new wastewater treatment/recycling projects in China with a total treatment capacity of 120,000 tonnes/days when the second phase of each project is completed. The total investment of phase 1 construction is estimated at RMB 73 million.
The award of new BOT projects shows that the company’s water business is well on track to meet our target to operate wastewater treatment/recycling facilities with at least
500,000 tonnes/day capacity by end 2009, which will turn its water business into a key earnings contributor and cash generator for the Group.
All newly awarded projects are located in areas that have severe water scarcity. This makes their wastewater recycling solution based on proprietary MBR technology very attractive for local governments and also provides unique business opportunity for the company.
Founded in 1996 and listed on SGX-Mainboard in 2003, Sinomem Technology Limited ("Sinomem" or the "Group"), is a leading integrated membrane technology company. Its business covers entire membrane industry value chain, namely membrane material manufacturing, membrane process & engineering, and downstream nutraceuticals production and wastewater treatment that employs membrane-based separation and purification technologies. The group's headquarters is located in Singapore. Sinomem's membrane process & engineering business involves process development, engineering design, equipment fabrication, system integration, on-site installation and commissioning and aftersales technical support. These products and services are provided under the branding of Suntar. The Group focuses mainly on China market and currently is the dominant membrane separation and purification solutions supplier for China's pharmaceutical and fermentation industries. The company's downstream business employs its proprietary membrane process and engineering solutions to produce nutriceutical/pharmaceutical products such as gibberellins, sorbitol etc. In addition, riding on its proprietary membrane bioreactor technology, the Group has recently expanded into wastewater treatment/recycling business.
Heeton Holdings Limited (Heeton or The Group) has acquired Grange Court at 74 Grange Road in prime District 10 for S$72.8 million for redevelopment into luxury apartments.
Nestled in a cul-de-sac off Grange Road and just minutes away from Orchard Road, the freehold property is spread over a total land area of 20,325 square feet. With a plot ratio of 2.1, this allows for a total gross floor area of 42,683 square feet to be built. This works out to be approximately $1,706 per square foot per plot ratio, excluding development charges.
Heeton acquired the property comprising 8 existing apartment units through a competitive tender. Construction is expected to commence in the middle of calendar year 2008 and is expected to last for up to approximately 3 years. The project is expected to be launched in the second quarter of 2008.
Heeton Holdings Limited was established in 1976, as a private company engaged in the ownership, lease and operation of retail outlets and wet markets, property investment as well as the development of small to medium-sized niche property projects. Heeton was listed on the Singapore Exchange in September 2003.
“..The successful strategy of deploying an integrated approach by first carefully selecting and tendering viable projects in an organised and objective manner, then aligning and using of optimal manpower, whilst setting out resources to continue active aggression on overseas marketing efforts has served well for the Group. We will persist with this wholesome framework as it serves as a catalyst for further growth. Our aggressive push in key economic powerhouses is paying off with increased business opportunities in USA, UAE's Dubai, Japan and Malaysia. The establishment of strategic partnerships and overseas offices and showrooms in prominent cities of these countries increased our visibility and awareness. Coupled with our track record in delivering timely solutions and quality products for our clients, we have been successful in winning contracts; in some highly profile projects, ranging from luxury hotels to residential developments across the global platform.”
Bernard Lim Leng Foo, Executive Chairman & CEO
Design Studio Furniture Manufacturer Ltd