Chemoil Energy Limited announced that the Company has, through its wholly
owned subsidiary, Anand Sea Shipping Limited, disposed of MT. Anand Sea to Glory
Town Investments Ltd (Glory Town) for a consideration of US$26,500,000.
In view of the earlier than scheduled commencement of the land based storage terminal, the fuel oil market being backdated until the end of this year and anticipated decline in the second hand tonnage market, the Group considered it commercially prudent to dispose the floating storage facility given the attractive purchase offer.
The Directors are of the view that the disposal is in the best interests of the Group as the disposal price is favourable compared the current market price of ships of equivalent size and age.
At the Group level, the disposal of MT. Anand Sea will result in a net gain for the current financial year with a corresponding increase in the net tangible assets.
Chemoil Energy Limited ("Chemoil" or the "Company") is one of the world’s largest and leading integrated physical suppliers of marine fuel products. With physical operations and service centres in many of the world’s busiest ports, including Los Angeles, New York, Houston, Singapore, Panama and the Amsterdam-Rotterdam-Antwerp region, Chemoil acts as a "gas station" for ships, providing fuelling services to its customers. These customers include a diverse group of ocean-going ship owners and ship operators engaged in the international container, tanker and bulk carrier trades. The Company owns or leases terminal capacity for the storage and blending of fuels and barging facilities for the delivery of marine fuel, which allows for the full integration of marine fuel delivery service in each of the markets that it serves. By participating in all key stages of the marine fuel supply chain, Chemoil is able to provide its customers with global single supplier convenience, competitive pricing, access to specialised products, customised term contracts and a fully integrated marine fuel delivery service whilst capturing margins at every stage.
Ezra Holdings Limited announced that it has acquired the entire issued and paid-up share capital of the following newly incorporated companies as stated below:
a) With regard to Emas Offshore Limited, 100 ordinary shares each of £1 for £100; and
b) With regard to Lewek Scarlet Shipping Pte. Ltd., 2 ordinary shares each of US$1 for US$2.
Emas Offshore Limited and Lewek Scarlet Shipping Pte. Ltd. are now wholly-owned subsidiary companies of Ezra.
Ezra also wishes to announce that its associated company, Intan Offshore Sdn Bhd has acquired the entire issued and paid-up share capital of the following newly incorporated companies as stated below:
i) With regard to Lewek Swift Shipping Pte Ltd, 2 ordinary shares each of US$1, for US$2; and
ii) With regard to Sarah Pearl Shipping Pte Ltd, 2 ordinary shares each of S$1, for S$2. These 2 companies are now wholly-owned subsidiary companies of Intan Offshore Sdn Bhd.
Ezra is an integrated offshore support solutions provider for the oil and gas industry. The business was founded in 1992. Today, Ezra is listed on the Singapore Exchange Securities Trading Limited ("SESDAQ") and recently promoted to Mainboard on 8th December 2005. Its headquartered in Singapore. Its offshore support services division provides offshore support vessels for charter, as well as ship management services for its own, and for third party vessels. The Group also has a marine services division that provides marine supplies and engineering services. It has grown to be a market-driven business leader in the offshore support services and marine services industries in the Asia Pacific region.
AusGroup Limited has won an A$6.0 million plus contract to fabricate an iron ore car dumper to be used by BHP Billiton, the world’s largest diversified resources company.
Under the terms of the contract, AusGroup will fabricate an iron ore car dumper for Metso Minerals, a leading global supplier of equipment, service and process solutions to several industries. This iron ore car dumper will be used by BHP Billiton for an iron ore project in Western Australia. Contract operations have commenced and are estimated to be completed by FY2008.
This is AusGroup’s 4th car dumper project and the first to be used by BHP Billiton. Previous projects were for East Intercourse Island, Dampier Port Upgrade and Fortescue Metal Group.
AusGroup Limited is a mainboard-listed energy & resources specialist. It is primarily based in
Australia, where it is a dominant player in the supply of total engineering solutions, which includes fabrication, mechanical installations and maintenance. Being involved in the building, maintaining and upgrading of infrastructure, plant and equipment used in the extraction and processing of energy & resources, AusGroup is well positioned to benefit from the increasing capital investments in these industries. Through its acquisition of Cactus Engineering, AusGroup has established a presence in Singapore, which will be used as a platform to more regional growth.
Sitra Holdings (International) Limited announced that the Company has entered into a memorandum of understanding with Epicentr K, a company established under the laws of Ukraine, for a proposed joint venture in Singapore. EpiCentr K is the operator of the Ukrainian leading Do-It-Yourself (DIY) EpiCentr chain of hypermarkets, which offers a wide variety of items for construction, decoration and furnishings as well as other items (“Products”) to the retail market in Ukraine. Under the MOU, the Company and EpiCentr intend to enter into a joint venture through the establishment of a joint venture company in Singapore by the name of “BMG Global Pte Ltd” or such other name as the parties may mutually agree (JVCo). The JVCo is intended to have an initial paid-up capital of US$10 million to be held by the Company and EpiCentr in equal proportion.
The main objectives of the JVCo are to carry out the following activities, in such form and
manner as the parties may mutually agree:-
(a) to act as the sourcing agent and supplier of EpiCentr in the procurement and supply of Products sourced from within Asia;
(b) to act as the sourcing arm for hypermarkets especially for the growth nations in Eastern and Central Europe, for building materials ranging from hardware, sanitary ware, decorative items and others;
(c) to participate in the development of new EpiCentr hypermarkets in Ukraine; and
(d) to participate in property development in Ukraine.
The proposed joint venture is subject to the necessary regulatory, corporate and other
approvals and permits and third party consents being obtained, whether in Ukraine,
Singapore or elsewhere in respect of the transactions contemplated under the MOU.
Sitra Holdings (International) Limited is a leading brand-centric distributor of quality wood-based products and lifestyle outdoor furniture.
Aztech Systems Ltd reaffirms its continuous growth of its ADSL2/2+ broadband modem product sector. During its half-year results announcement in July this year, the Group reported that there was continual strong demand for its ADSL2/2+ broadband modems and expects to hit record number this year.
The Group is now pleased to announce that to-date, it has received firm orders for 1.5 million
units of ADSL2/2+ broadband modems under a contract win to a key customer in North
America, to be delivered by end of the year.
The Group further projected additional orders of 2 million units for FY2008. The entire contract is valued at approximately US$50 million.
Asymmetric Digital Subscriber Line (“ADSL”) is a commonly used data communications technology that tranmits Internet data over copper telephone lines faster than a conventional 56k analog modem. In the first quarter of 2007, the worldwide broadband lines totaled 298 million, of which ADSL dominated the sector with 197million subscribers. The United States has the biggest number of ADSL lines, with 60.4 million subscribers to date while increasing approximately 2.9 million lines over each quarter. Other top ADSL countries include China, Germany, UK, France, Japan and Korea.
Incorporated in 1986, and listed on the Main board of the Singapore Stock Exchange, Aztech Systems Ltd specializes in the design and manufacturing of voice and data communications solutions. Headquartered in Singapore, Aztech today has over 2,500 employees worldwide with strong R&D, design and manufacturing capabilities. Supported by its 6 sales offices in Singapore, Hong Kong, China, USA, Germany and Malaysia, the Company provides OEM/ODM, contract manufacturing and retail distribution business.
Food Empire Holdings announced that its flagship brand, MacCoffee® has been awarded SuperBrand status again in Russia in the Consumer Goods (B2C) category.
The award will be unveiled in a tribute event to be held in Novinsky Passage, Moscow in end January 2008. This SuperBrand program is represented in more than 70 countries and it congregates the most successful and outstanding international brands and giving recognition to these brands and trademarks, which made up the component elements of the economic growth and personify its economic power.
The SuperBrands in Russia were selected by the expert council on the basis of the volume of sales and recognition of trademarks, which are carried out by the partners of the SuperBrands
Program, ACNielsen and KOMCON.
SGX Mainboard-listed Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. Food Empire Holdings’ products are exported to over 59 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina and the US. The Group has established offices worldwide including Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam.
Global Voice Group announced that QCNS
International, a leading provider of online travel services in Europe, has concluded an agreement with Global Voice for the provision of a high availability transaction platform. Under the terms of the agreement, Global Voice will deploy host¦nex, a highly secure solution comprising best in class co-location, managed services and
high performance Tier 1 IP transit supporting more than 350,000 global booking requests annually.
QCNS, one of the world’s fastest growing online travel specialists, required a highly available and stable platform to support their burgeoning customer base of in excess of 250,000 travellers worldwide. With a rapidly expanding database of hotels, car rental agencies and airlines, QCNS made the decision to upgrade their existing solution to a mission critical environment that would match both current and future needs.
Following consultation with QCNS, Global Voice designed a bespoke, integrated hosting and communications solution, redundantly linking QCNS environments via a dedicated fiber connection and delivering Tier 1 IP connectivity for the fastest and most reliable Internet access. The solution is to be deployed and managed from Global Voice’s premium, high power density datacenter facility in Frankfurt.
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’ intercity network linking Europe’s largest economies, with high density ‘last-mile’ metropolitan fiber networks in 15 of Europe’s leading cities. Global Voice was recently awarded the prestigious title of “Best New Entrant” by leading telecommunications publication, Capacity Magazine. The award was granted to Global Voice following their acquisition of a pan-European fiber network thus extending their unique proposition of delivering private fiber networks – an offering the judges felt is of immense value to large Corporates and carriers alike. Global Voice Group, trading as
euNetworks in Europe, is headquartered in Frankfurt, publicly listed on the Singapore stock exchange (SGX: H23.SI). Global Voice Group is a member of euro-one, a unique collaboration of fiber optic network providers to deliver infrastructure and next generation networking solutions, connecting Eastern, Central, Western Europe and North America.
Food Empire Holdings Limited announced
that its MacCoffee Rally Team in Ukraine has won the European Cup stage of the
International “Yalta PRIME Rally”.
The race was contested by Ukraine’s best rally teams and professional drivers from across Europe. The rally is famous for the difficult terrain covered and is considered the most complex stage of the Yalta Prime Rally. With the President of Ukraine as its patron, the race attracted more than 200,000 spectators including politicians, business people and international journalists.
The MacCoffee Team had to overcome stiff competition from 80 rally crews from a diverse range of countries, including Ukraine, Russia, Lithuania, Georgia, Czech Republic, Sweden, Austria and Italy. This stage win puts MacCoffee team in first position in the overall Championship.
SGX Mainboard-listed Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. Food Empire Holdings’ products are exported to over 59 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina and the US. The Group has 18 offices established worldwide including Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam.
Popular Holdings Limited (the "Company") wishes to announce that the Company has acquired 2 ordinary shares of RM1 each in the capital of Seashore Publishing (M) Sdn Bhd.
Seashore (M) has an authorised share capital of RM100,000 divided into 100,000 ordinary shares of RM1 each. The principle activities of Seashore (M) are in the business of publishing and distributing books, articles and other printed materials.
The Directors of Seashore (M) are Mr Chou Cheng Ngok, Ms Lim Lee Ngoh and Mr Wee Chooi Khuan.
The above investment was funded through internal resources and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the Company for the most recently completed financial year.
POPULAR is making fast and extensive inroads into the Greater China market, especially in China and Taiwan. We have marketing offices / subsidiaries in Beijing, Shenzhen, Guangzhou and Taipei. Our business activities cover many major cities and provinces in China. POPULAR has the network, content and the platform, to grow our business and expand into new products, markets and businesses. The synergy between our three core businesses enables us to be the Edu-Channel of East Asia.
Inter-Roller Engineering Limited announced that the Company has incorporated a wholly-owned subsidiary, Inter-Roller Airport Logistics System (Suzhou) Co., Limited in Suzhou, China. IR Suzhou will have the capability to handle design, project management, and manufacture of airport logistics system, specifically for the needs of the China market.
This new setup in Suzhou will further strengthen the Group’s foothold in China market as the Group can now participate in domestic tenders that are not opened to international foreign players. With IR Suzhou, we would be able to provide better service to the local customers, including a quicker delivery time.
IR Suzhou has a registered capital of USD1,050,000 and the capital is expected to be fully paid up within a year. The investment in IR Suzhou is entirely funded from internal source. The investment by the Company is not expected to have any significant impact on the net tangible assets per share or earnings per share of the Group for the current financial year.
Established in 1979, Inter-Roller Engineering Limited (“Inter-Roller”) is an international
engineering company listed on the Main Board of the Singapore Exchange Securities Trading
Limited. ISO 9001:2000 certified, Inter-Roller specialises in designing and building Airport
Logistics Systems such as Airport Baggage Handling systems, In-flight Catering Systems and Air-Cargo Handling Systems.
“..During the year, we were fortunate to receive several acknowledgements and awards for our efforts. Our leading brand, MacCoffee, was awarded the "Choice of the Year" award in Ukraine, in recognition of the strong level of consumer support for the brand. In Singapore, Food Empire Holdings is once again recognized as one of the most valuable brands in Singapore. According to the "Singapore's Most Valuable Brands" award, our portfolio of brands is valued at S$98.4 million. We were also awarded the IE Singapore International 100 Award as one of the top overseas revenue generating companies in Singapore. In Russia, our flagship brand, MacCoffee, has been awarded the SuperBrand status in the B2C category. Our Group has also won the Star Packaging Award for 6 years consecutively.”
Tan Wang Cheow, Chairman and Managing Director
Food Empire Holdings Limited