Bowsprit Capital Corporation Limited as manager of First Real Estate Investment Trust has entered a Memorandum of Understanding with Nantong Rich Hospital Co. Ltd. to invest in the property assets of a hospital with more than 500 beds in Jiangsu Province, PRC by way of subscription of redeemable convertible cumulative preference shares in a special purpose vehicle to be incorporated offshore by Nantong.
The MOU provides for an exclusivity period of three months for the conduct of due diligence on the Property and for the Manager to negotiate and finalise terms and conditions for the redeemable convertible cumulative preference shares.
Positioned to capitalise on the growing demand for healthcare services in Asia, First REIT is a Singapore-based real estate investment trust which aims to invest in a diversified portfolio of income-producing real estate and/or related assets in Asia that are primarily used for healthcare and/or healthcare-related purposes.
Lifebrandz Ltd. (the Company) refers to the announcement made on 17 April 2007 on the non-binding Memorandum of Understanding (the MOU) entered into with Yee Fook Khong and Gerald Ho Shih Kwong on 13 April 2007 to consider the acquisition of a group of companies in the People’s Republic of China.
The MOU provides, inter alia, that the parties agree to endeavour to enter into the definitive sale and purchase agreement within four (4) months from the date of signing of the MOU or such other date as the parties may agree.
The Company wishes to announce that the parties require additional time to formalise the terms and conditions of the sale and purchase agreement and have mutually agreed, by way of a supplemental letter entered into on 17 August 2007 (the Supplemental Letter), to extend the effective date for finalising and signing of the sale and purchase agreement by a further two (2) months from the date of the Supplemental Letter.
Lifebrandz Group was established in July 2001 and has been listed on the Singapore Exchange Main Board since 18 June 2004. LifeBrandz is a brand development and management Group with interests in lifestyle-related sectors, leveraging on its core competence in developing brands that it created and owns, into successful brands which meet customers' needs.
China Petrotech Holdings Limited (the Company or CPHL) is pleased to inform shareholders that its wholly-owned subsidiary,
Petroservice Engineering Inc. (PEI), has signed a new MOU with PT Pertamina EP (Pertamina) that paves the way for CPHL to provide technical oilfield services at its production oil fields. Under the MOU, PEI will deploy its technical staff to conduct the first trial program at one of Pertamina’s working area, the Pendopo Area, in South Sumatra. In the trial program, PEI will conduct ZW-PQP Combined Water Profile and Shut Off, and Oil Displacement Technique for suspended High Water Cut Wells at Pertamina’s 3 to 10 production wells.
The objective is to accelerate and optimize incremental oil production at the production wells. If this trial project shows results of positive incremental oil recovery, Pertamina and PEI will then sign further agreement whereby PEI will provide technical oilfield services at Pertamina’s selected oil blocks that are in production.
The MOU arises as Pertamina recognises the abundance of hydrocarbon and related substances in Indonesia which can potentially be developed. The MOU covers a 6 months period. CPHL does not expect this project to have any impact on its financial performance in the current year.
China Petrotech Holdings Limited is a provider of technological solutions and services for the upstream activities of the PRC oil and gas industry.
AsiaPharm Group Ltd. (AsiaPharm or the Group), a leading specialty pharmaceutical group in the People’s Republic of China (PRC) focusing on the research and development (R&D), production and sale of natural drugs and drug delivery systems (DDS), announced today that its wholly owned subsidiary Shandong Luye Pharmaceutical Co., Ltd (Luye) has signed an exclusive product distribution agreement with leading Korean drug maker LG Life Sciences Ltd. (LGLS) for its proprietary osteoarthritis drug – Hyruan Plus Inj.® (Sodium Hyaluronate or Hyruan Plus) – a hyaluronic acid injection for osteoarthritis of the knee joint.
This exclusive distribution agreement gives Luye the full rights to distribute Hyruan Plus within the PRC with targeted sales of approximately 1.34 million units over the next 5 years. Hyruan Plus – a natural complex sugar of the Glycosaminoglycan family – is injected into the patient’s affected joint to suppress cartilage decomposition resulting from bone abrasion, thereby relieving pain and reducing inflammatory effects. Osteoarthritis is a common ailment afflicting aged populations across the world. According to figures from the “China Pharmaceutical News”, Osteoarthritis affects 78.5% of the PRC population above 60 years old. Osteoarthritis mainly affects weight-bearing joints (like the knees), following degeneration of cartilage and synovial fluid (hyaluronic acid) due to old-age, obesity, injury or genetics.
Since its initial launch in South Korea in 2005, Hyruan Plus has been warmly received by the market with sales doubling to over RMB 135.0 million in 2006 from RMB 60.0 million in 2005. The product is currently sold in South Korea, South East Asia and Latin America; and has received sales approval from the European Union in June 2007.
Established in 1994, we are today a leading specialty pharmaceutical group in the People’s Republic of China (“PRC”) focusing on the research and development, production and sale of natural drugs and drug delivery systems. Fully equipped, integrated and GMP-certified, our ultra-modern facilities in Yantai and Nanjing enables us to carry out all aspects of pre-clinical evaluation – from pharmaceutical to pharmacology research, drug safety evaluation and clinical trials – as well as full production of our natural and new DDS technology drugs.
Oculus Limited (Oculus or the
Group), has secured a S$100 million financing facility from a major New York-based fund manager to fund its business expansion in renewable energy and oil services businesses.
The facility is a convertible bond – a financial instrument that gives the bondholder an option but not the obligation to convert its debt into equity.
Under the Bond Subscription Agreement, Oculus will issue up to S$100 million in
zero-coupon convertible bonds - in 50 successive tranches valued at S$2m per
tranche - to D.B. Zwirn Mauritius Trading No.3 Limited and its affiliates. The maturity date of each bond is 5 years after the date of the bond issue. After the issue of the initial tranche of S$2 million, either Oculus or D.B Zwirn would have the option to request for subsequent tranches within five years of the initial completion date of the first tranche.
D.B. Zwirn Mauritius Trading No.3 Limited is wholly-owned by D.B. Zwirn Special Opportunities Fund, L.P., a Delaware limited partnership managed by D.B. Zwirn & Co., L.P., a global Alternative Investments Manager and Merchant Capital Provider with over US$5 billion worth of assets under management.
The terms of the convertible bonds are favourable to Oculus. There is no interest payable on the bonds (zero coupon rate), no restrictions on future borrowings (no negative pledge), no restrictions on future equity raisings and no subordination of existing financing facilities. The Group will issue bonds only as and when needed. The facility can be terminated by either party.
Oculus Limited is focused on the innovation, manufacture and marketing of color lenses principally under the FreshKon® brand. The Group also offers disposable daily, bi-weekly and monthly clear lenses under the FreshKon® brand, and specialty products such as toric lenses, and gas permeable lenses under the
Boston brand. Oculus has a direct presence in Singapore, China, Hong Kong and Malaysia and its products are sold in more than 45 countries globally.
Swissco International Ltd, a SESDAQ-listed company, is pleased to announce that its wholly-owned subsidiary, Swissco
Offshore Pte Ltd has recently secured 2 contracts worth a total of S$13.78 million to be fulfilled up to 2008. This comes on the back of the Group’s decision to position itself as a one-stop provider of offshore support vessels.
The first contract is for the provision of a 48m offshore support vessel to a
Singapore-based company that specializes in offshore marine engineering services. The contract is for a 12-month period with a sale option in place at the end of the charter.
The second contract is entered into with a Malaysian company for the provision of an aluminum fast utility vessel up to end 2008. The vessel is the first of the batch of 3 being built in Western Australia, which the Group had taken delivery recently.
Both vessels are expected to be deployed within the South East Asia oil and gas fields. The Group presently operates a fleet of 24 vessels and expects to take delivery of 6 vessels for the rest of 2007 and 8 vessels in 2008. The Group targets to achieve a fleet size of 30-35 by end FY2008.
With a history that dates back to 1970, Swissco is today one of the leading operators of a young and modern fleet of offshore support vessels, providing marine services to the shipping and offshore oil and gas industries. It also operates tugboats, barges and boats for charter in the Out-Port-Limit (OPL), catering to the ships passing Singapore on route to next ports. Swissco also operates a 3000DWT dockyard and two slipways in Singapore with the capability to carry out dry-docking and afloat repairs for its own fleet as well as for customers operating smaller to mid-sized vessels.
Food Empire Holdings Limited (the Company) wishes to announce that it has on 20 August 2007 entered into a conditional sale and purchase agreement to dispose its entire 35 percent shareholdings in Custom Food Ingredients Sdn Bhd (the Custom Food).
The consideration for the Disposal is RM 9,997,394 and was based on a willing-buyer, willing-seller basis.
This transaction is not expected to have any material impact on the net tangible assets of the Company for the financial year ending 31 December 2007.
Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food and confectionery. It also has a wholesale business that trades in frozen seafood. Food Empire Holdings' products are exported to over 50 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina, Australia and the US. The Group has 18 offices (representative and liaison) in countries including Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam. Food Empire has more than 200 types of products under its own brands - MacCoffee, Klassno, FesAroma, Bésame, OrienBites, MacCandy, Kracks, MacFood, Zinties and Hyson.
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 concluded an agreement with Danish carrier GlobalConnect. Under the terms of the agreement, Global Voice will deploy private fiber lines in Hamburg over which GlobalConnect will deliver high capacity solutions in Hamburg, one of Europe’s largest and busiest ports.
GlobalConnect, one of Denmark’s largest providers, required a highly redundant and scalable private fiber network for delivery of services to their clients. Bespoke to GlobalConnect’s requirements, Global Voice will deploy priva¦nex, connecting GlobalConnect’s datacenter in Hamburg with multiple client locations within the Hamburg metropolitan area. Priva¦nex will enable GlobalConnect with a highly secure platform over which to deliver mission critical communications solutions to their Carrier and ISP customer base and will scale with current and future requirements.
Global Voice Group enables service providers with the ability to lease or buy a full end2end, metro or European fiber network infrastructure on which to rollout their broadband services or upgrade their existing legacy networks, without the delays and costs of construction. The ever increasing demand for new broadband related products such as video on-demand, video conferencing, triple play, Voice-over-IP, Digital and HDTV are driving the need for telecommunication companies to upgrade to end2end fiber.
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.
Boustead Singapore Limited (Boustead or the Company) is pleased to announce that
it has been awarded a record S$300 million contract to design and build a new township
in Libya, together with joint venture partner, General Construction & Building Company
(GCBC), the largest government construction company in the country.
According to the terms of the joint venture, Boustead will hold a 65% interest in the contract. Boustead-GCBC will design and build the new township with 1,164 single-storey semi-detached houses and supporting infrastructure at a 465-hectare site in the municipality of Al Marj. The new township includes amenities such as municipal water supply and sewage systems, education institutes and recreational facilities. Utilising Boustead’s advanced pre-cast system and propless framework system for construction, the new township project is expected to be completed within 24 months. The advanced pre-cast system has been adapted to incorporate a modern Arabic architectural façade that complements the cultural flavour of Libya.
Boustead-GCBC will appoint Surbana International Consultants Pte Ltd (“Surbana”) as the main consultant, marking Surbana’s foray into Libya. Surbana will contribute its vast
expertise in new township planning, having designed and developed 26 townships in
Singapore which provide quality homes for more than 85% of Singaporeans.
Established in 1828, Boustead Singapore Limited is a progressive global Engineering Services and Geo-Spatial
Technology Group listed on the Singapore Exchange. Offering an extensive range of specialised engineering services and geo-spatial solutions, we deliver professional answers customised to meet our clients’ specific requirements in a vast array of industries. Our strong suite of Engineering Services is geared to fulfil the stringent demands of specialised engineering
fields such as:
- Energy-Related Engineering;
- Oil & gas/petrochemicals;
- Solid waste energy recovery;
- Water & Wastewater Engineering; and
- Industrial Real Estate Solutions.
Under our Geo-Spatial Technology arm, we provide consulting services and exclusively distribute ESRI geospatial technology the world’s leading geographic information systems and geo-spatial solutions to major markets across Australia and South East Asia.
With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, Boustead is ready to serve the world. Boustead has undertaken projects in 72 countries globally.
Megachem Limited (Megachem or the Group), a global integrated specialty chemical solutions provider, today announced that it has secured a 3-year supply agreement with an MNC in the petrochemical sector in Singapore to supply lubricant additives.
Established in 1987, MegaChem is today a global one-stop specialty chemical solutions provider. We provide integrated value-added services including, global distribution, contract manufacturing of specialty chemicals as well as proprietary chemical products manufacturing to meet our customers' requirements.
“..With the upcoming Beijing Olympics and the rapid pace of digitalisation in the global market, the output of flat-panel TV is expected to grow at an annual rate of above 20%. This translates into strong growth prospects for our electronic tuner components and precision components and connectors businesses. Our strong industry position as the largest supplier for electronic tuner components will enable us to increase our market share for electronic tuner components and increase our market penetration rate for precision components and connectors.”
Zhang Zhong Liang, Executive Chairman
China Precision Technology Limited