Vega Company Limited (the Offeror), an indirect wholly-owned subsidiary of The HSBC Private Equity Fund 6 L.P. (HPEF6) announced its intention to make a voluntary conditional cash offer (the Offer) for all the issued and paid-up shares (the Shares) in the capital of Sing Lun Holdings Limited (Sing Lun or the Company). The Offer is conditional upon the Offeror obtaining acceptances in respect of such number of Shares which, together with Shares acquired or agreed to be acquired before or during the period of the Offer, will result in the Offeror and parties acting in concert with it holding Shares carrying more than 50 per cent of the voting rights attributable to all the Shares as at the close of the Offer. As at the date hereof (the Announcement Date), the Offeror has received irrevocable undertakings from the founder shareholders of the Company (namely, (i) Sing Lun Investments Private Limited,
(ii) Lee Kwok Kie @ Patrick Lee (PL) (the Chairman and Chief Executive Officer of the
Company) and (iii) Mark Lee Kean Phi (ML) (the Chief Operating Officer of the Company) to accept the Offer in respect of approximately 53.48 per cent of all the Shares in aggregate. The Offeror will be joined by the key management executives of the Company, PL and ML, to take the Company forward.
Following receipt by PL and ML of the relevant cash consideration for the Shares to be tendered by them in acceptance of the Offer, PL and ML will, through Focus Return Investments Inc., a company incorporated in the British Virgin Islands, subscribe for new shares in the capital of the Offeror, representing between 8.7 per cent to 15.8 per cent of the enlarged share capital of the Offeror in the aggregate. Separately, ML will also subscribe for additional new shares in the capital of the Offeror, representing between 1.3 per cent to 2.3 per cent of the enlarged share capital of the Offeror. Following such subscription, PL and ML will be appointed as directors of the Offeror. The Offeror believes that the Offer represents an attractive proposition to shareholders to realise their investment in the Company for cash at a premium to the last transacted share price, the volume-weighted average price (VWAP) per Share for the one month, three month and six month period prior to the Announcement Date.
The Offer rice of S$0.46 per Share represents:
- a premium of 50.8 per cent over S$0.305, being the last transacted share price on 20 March 2008, the last trading date prior to the release of the holding announcement by the Company in relation to the Offer on 24 March 2008;
- a premium of 17.9 per cent over S$0.390, being the last transacted share price on 28 March 2008, being the last trading date prior to the Announcement Date;
- a premium of 42.4 per cent over S$0.323, being the VWAP for the one month period prior to the Announcement Date;
- a premium of 58.1 per cent over S$0.291, being the VWAP for the three month period prior to the Announcement Date; and
- a premium of 55.9 per cent over S$0.295, being the VWAP for the six month period prior to the Announcement Date.
The Offeror also believes that the privatisation of the Company will allow the Company to focus its resources on its business operations as it will be able to dispense with the expenses and management resources in connection with the maintenance of its status as a listed entity, and will provide it with the benefit of greater management flexibility, thereby allowing the Company to operate with greater speed in the dynamic business environment which the Company is operating in.
Sing Lun Holdings Limited was incorporated in Singapore on 30 December 1999 and is listed on the Main Board of the Singapore Exchange Securities Trading Limited. It is an integrated one stop apparel provider that provides a full supply chain solution to its customers by offering design and development, global sourcing, compliance standards monitoring, order management, manufacturing and distribution services. Its product coverage include knits, woven and sweaters, and covers three growing industry segments, namely, performance sportswear, fashion wear and specialised children apparel.
Raffles Education Corporation Limited announced that its subsidiaries (i) Raffles Lasalle (Shanghai) Education Consulting Co., Ltd (Raffles Lasalle); (ii) Value Vantage Investment and Management (Hangzhou) Co., Ltd (Value Vantage Hangzhou), (iii) Rongchuang Software Technology (Shanghai) Co., Ltd (Rongchuang Shanghai) (collectively, the Company's Subsidiaries, together with
(iv) Shanghai Shengxin Commercial Consulting Co., Ltd (Shanghai Shengxin) (the Company's Subsidiaries and Shanghai Shengxin collectively, the Purchasers) have on 28 March 2008 (the Signing Date) entered into a sale and purchase agreement (the Sale and Purchase Agreement) with (i) Hefei Wanbo Social Undertakings Development Group Co., Ltd (Wanbo Development Group); and (ii) Hefei Lanjing Technology and Trade Co., Ltd (Lanjing Trade Company) (collectively, the Vendors) in relation to the proposed acquisition (the Proposed Acquisition) of Wanbo Technology Vocation College (the Wanbo College) by way of the acquisition of the entire equity (the Equity) of Hefei Wanbo Education Management Co., Ltd (Wanbo Education Management).
Pursuant to the terms of the Sale and Purchase Agreement, the Companies'
Subsidiaries will acquire an aggregate of ninety-nine (99) per cent of the Equity.
Shanghai Shengxin will acquire the remaining one (1) per cent of the Equity.
The consideration (the Consideration) payable by the Purchasers for the Proposed Acquisition shall be RMB 208,500,000. Raffles LaSalle has paid the Vendors a deposit of RMB 10,550,000 (the Deposit). The Deposit shall be offset against the Consideration payable. The Consideration shall be paid to the Vendors in five (5) installments according to the milestones as set out in the Sale and Purchase Agreement, with the last installment to be paid not later than 31 March 2009. The Consideration will be funded either through external financing arrangements to be entered into by the Company, internal resources, or a combination of both external financing and internal resources. The Consideration was agreed upon following arms’ length negotiations between the Company and the Vendors on a willing-buyer and willing-seller basis.
The Proposed Acquisition is part of the Group's strategy to expand its footprints in key strategic cities in the PRC, and is complementary to the Company's business in the PRC.
Listed on the Main Board of the Singapore Exchange, Raffles Education Corp is the leading education group in Asia. Since establishing its first college in Singapore in 1990, the Group has grown to operate 28 colleges in Asia Pacific under 5 education brand names – Raffles University, Hartford Institute, China Education Limited and Shanghai Zhongfa College and Oriental University City.
Swiber Holdings Ltd (the Company) wishes to announce that Kreuz International Pte. Ltd. (Kreuz), a wholly-owned subsidiary company of the Company and Principia Recherche & Development SA has set up a joint venture company, known as Principia Asia Pacific Engineering Pte. Ltd. (Principia) for the purposes of providing offshore and marine Engineering and Research and Development services in South East Asia.
The Company will hold a 49% stake in Principia. The issued and paid up capital of Principia is US$100,000.00 comprising 100,000 shares. The Company has invested US$49,000.00 in Principia.
The principle activity of Principia is to undertake the supply and sale of studies, design of offshore and marine facilities, as well as related services including but not limited to research and development, scientific software and monitoring systems in the offshore and marine industry in South East Asia.
The investment in Principia is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 December 2008.
Established in 1996, Swiber is today an integrated offshore Engineering, Procurement, Construction, Installation and Commission ("EPCIC") contractor with supporting in-house offshore marine capabilities.
- Offshore EPCIC Services: Leveraging on our strong engineering capabilities, we provide a full suite of EPCIC services which can be customized according to project requirements.
- Offshore Marine Support Services: We charter support vessels, including logistics support, to customers both on a time charter and bareboat charter basis. As at 17 September 2006, we have a fleet of nine operating vessels, comprising five tug boats and four barges.
By integrating our complementary services, we are able to provide customers with one-stop solutions for all the relevant stages of their offshore oil and gas projects.
Boustead Singapore Limited (Boustead or the Company) announced that its 91.7%-owned subsidiary, Boustead Projects Pte Ltd (Boustead Projects) – a leading specialist in industrial real estate solutions – has been awarded a S$15 million turnkey contract to build a warehouse and office facility (the Facility) for Luxasia Pte Ltd (Luxasia) at Paya Lebar iPark in Singapore.
Luxasia is the leading distributor of renowned global fragrance and cosmetics brands in
Asia. Formed in 1986 in Singapore, it has grown into a regional business employing
more than 1,200 staff in 10 countries, namely Singapore, Malaysia, Indonesia, Thailand,
Philippines, Taiwan, Hong Kong, China, India and Vietnam. Some of the famous fragrance and cosmetics brands distributed include Burberry, Bvlgari, Calvin Klein, Guerlain, Issey Miyake, La Prairie and Prada.
Rising up six floors with a gross floor area of over 19,700 square metres, the Facility has been designed specifically to meet Luxasia’s increasing warehouse and office requirements in Singapore. Located at the 15-hectare Paya Lebar iPark, the Facility will have a promenade façade to complement the vision for Paya Lebar iPark, which aims to create a vibrant enterprise ecosystem for the work centric community and a unique place for innovation that incorporates work, learn and play elements. This is aligned with Singapore’s shift from a manufacturing economy towards value creation and a knowledge-driven economy. The Facility is the fifth project undertaken by Boustead Projects at Paya Lebar iPark.
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.
Global Voice Group announced that it now offers connections to Europe’s largest Internet Exchanges, namely AMS-IX (Amsterdam Internet Exchange), DECIX (German Internet Exchange), LINX (London Internet Exchange) and SFINX (Service for French Internet Exchange) amongst others. Members of the Internet Exchanges are now enabled with Global Voice’s unique single source, seamless long-haul to last-mile, door2door networking solutions throughout Europe’s largest cities and economies.
AMS-IX, DE-CIX, LINX and SFINX are leading Internet Exchanges in Europe and boast in
excess of 820 International members including the world’s largest Carriers, Content Providers, Internet Service Providers (ISPs), Mobile Operators and Internet Centric Organisations. The networks of Internet Service Providers, telecommunications carriers, content providers, hosting providers and the like, unite at the Internet Exchanges to exchange IP traffic with one another. All members of these Internet Exchanges are now enabled with Global Voice Group’s massive capacity solutions delivered on all-optical fiber either door2door or via the over 150 datacenters across Europe which are connected to Global Voice’s network. Global Voice can connect the exchanges in capacities ranging from 1GigE to 10G wavelengths, with ready for service availability in days from order.
Global Voice Group is Europe’s foremost provider of mission-critical, extreme performance and capacity data services. We serve large Corporations, Carriers and
Service Providers door2door. All our services are delivered over our wholly owned €1.3 billion pan-European all-fiber optic network. Our infrastructure 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. Global Voice was awarded the prestigious title of “Best New Entrant” in 2006 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 Corporations and carriers alike. Global Voice Group, traded as euNetworks in Europe, is headquartered in Frankfurt, publicly listed on the Singapore stock exchange (SGX: H23.SI). Global Voice is a member of euro-one, a unique collaboration to deliver infrastructure and next generation networking solutions connecting Eastern, Central, Western Europe and North America.
Mercator Lines (Singapore) Limited (Mercator), a leading Indian-owned international dry bulk shipping company focused on high growth markets such as India and China announced that it has entered into a Memorandum of Agreement (MOA) for its purchase of a geared Panamax dry bulk carrier, “YK Titan”, with Tanagra Shipping, S.A. from the Republic of Panama. This is the first vessel acquired by Mercator since its IPO listing on December 14, 2007. It is currently hired on a time charter-in basis by Mercator. The new vessel is of capacity 69,221 dwt and is scheduled for delivery between July 1 and August 31, 2008 at a total consideration price of approximately US$65.5 million, tentatively proposed to be financed by Mercator’s IPO proceeds.
YK Titan is a 1997-built vessel constructed by Tsuneishi Shipbuilding Co. Ltd., Japan. Its geared feature, comprising a loading and unloading system onboard the vessel itself, provides it with a distinct advantage over gearless vessels through its ability to operate in ports with underdeveloped infrastructure, such as the Indian and Indonesian ports in which Mercator regularly operates. Mercator currently operates a fleet of 11 dry bulk vessels, seven owned and four chartered-in, comprising geared and gearless Panamaxes and Kamsarmaxes with an aggregate capacity of 829,057 dwt. The acquisition of YK Titan will expand Mercator’s owned fleet to eight ships comprising four gearless Panamax and
Kamsarmax ships and four geared Panamaxes.
The acquisition is expected to have a positive impact on Mercator’s net tangible assets per share, earnings per share and operating results for the current financial year ending March 31, 2009. The Sellers and negotiating Charterers are unrelated to the Directors and controlling shareholder of the Company. None of the Directors and controlling shareholders of the Company has any interest, direct or indirect, in the Charter. No new directors will be appointed to the Board of Directors of the Company in connection with this Charter. The Charter is in the ordinary course of the Company’s business.
Mercator, which commenced operations in 2005, has established a market presence
in the Indian coal transport market, specializing in the transportation of dry bulk commodities such as coal into India from Australia and Indonesia, and iron ore from India to countries such as China, Japan and South Korea. With the strong support of its ultimate parent company, Mercator Lines Limited (MLL India), the second largest private sector shipping company in India (by aggregate fleet tonnage capacity), Mercator also provides its customers with complete and customized logistics solutions from the load port to the point of usage. The Group services primarily large thermal-based power plants and steel companies, and has established strong relationships with its customers, including reputable names such as Arcelor Mittal Group and Tata Power.
Aiming to capture mega interior fit-out deals in the booming real estate sector of Singapore and the region, Design Studio Furniture Manufacturer Ltd, (Design Studio) has strategically partnered up with the world’s fifth largest interior fit-out contractor, Dubai-based Depa United Group (Depa).
Design Studio is Singapore’s leading premier furniture manufacturer, product and interior fitting-out specialist. Its order book stood at a record S$152 million as at end FY2007, including work for the Burj Dubai, Ritz Carlton Hotel and Apartments at the Dubai International Financial Centre, Scotts Square and Goodwood Residences, to name a few. Dubai-based Depa United Group is one of the largest interior contractor and specialist fit-out company in the Middle East and North Africa. Recently Depa United Group announced that it would have primary listing of its shares on the Dubai International Financial Exchange and a listing of global depositary receipts on the London Stock Exchange.
The partners will complement each other’s strengths to capture higher value deals. With Design Studio’s niche position in Singapore and Depa’s excellent track record and expertise, the joint venture (JV) would be able to pitch for projects worth over S$50 million.
Their JV company, DDS Asia Holdings Pte Ltd (DDS), in which Depa United Group holds 55% and Design Studio 45%, will target interior contracts in the hospitality & commercial segments within Singapore, Malaysia, Thailand, Indonesia and Vietnam.
In Singapore, DDS will form a wholly-owned subsidiary, DDS Contracts & Interior Solutions Pte Ltd (DDS Singapore), which will ride on the real estate & construction growth in Singapore. DDS Singapore is a specialist company poised to be a significant player offering a comprehensive fit-out suite, including turnkey and retrofitting services, to new and existing hospitality and commercial projects.
Design Studio has three complementary and versatile core businesses that yield positive outcomes in a wide spectrum of residential and commercial developments across major countries around the world. The core business are the supply and installation of manufactured furniture products to private residential developments, interior fit-out services to hospitality and commercial projects and distributorship of renowned imported brand names and exporting two premium in-house brands to overseas markets. In addition, Design Studio’s core competitive advantage as a specialist in the area of paneling and thermoformed products provides its clients with relevant advice on designs, material usages and costing during the planning stage of the project, right through to final execution. With high-end luxury projects like the Burj Dubai, Trump International Hotel (US), St. Regis Hotel (Singapore) and Ritz Carlton Hotel and Apartments (in the Dubai International Financial Centre) under its belt, Design Studio has created a niche in the premiere segment of this industry.
Asia Silk Holdings Limited (the Company) wishes to announce that its wholly-owned subsidiary, Wuxi Dingqui Silk Co., Ltd. (WXDQ), has established a new subsidiary company namely, Yixing Dingjia Textile & Garment Co., Ltd., with details as follows:-
Name of subsidiary: Yixing Dingjia Textile & Garment Co., Ltd. (Yixing Dingjia) Country of incorporation: People’s Republic of China
Registered share capital: RMB3,000,000
Principal activities: Manufacturing and sales of textile and garments
Percentage of interest owned by WXDQ 100%: A wholly-owned subsidiary of WXDQ
Our Company was incorporated in Singapore on 20 February 2004 as a private limited company under the name of "Asia Silk Holdings Pte. Ltd.". On 14 March 2005, we converted to a public limited company and assumed our present name, "Asia Silk Holdings Limited". We specialise in spun silk yarn and fabric manufacturing. Our wide range of spun silk yarn is sold to knit wear manufacturers in the PRC who in turn serve international apparel brands. Part of our spun silk yarn is also used for the in-house production of our spun silk fabrics which are supplied to local and overseas garment manufacturers for the manufacture of garments for international apparel brands such as Polo Ralph Lauren, Liz Claiborne, Tommy Bahama, Talbots and Ann Taylor.
Cambridge Industrial Trust Management Limited (the Manager), the Manager of Cambridge Industrial Trust ("CIT"), has identified 79 Tuas South Street 5 and Private Lot A1767800 Mukim 7 (located adjacent to 79 Tuas South Street 5) (the Properties) to be acquired by CIT at a purchase price of S$10,400,000 and S$7,600,000 respectively (collectively known as the Acquisitions).
In connection with the Acquisitions, RBC Dexia Trust Services Singapore Limited, as trustee of CIT (the Trustee), has entered into separate conditional put and call option agreements (the Option Agreements) with Creative Polymer
Industries Pte Ltd (Creative Polymer), and K-Plast Technology Pte Ltd (KPlast) respectively, to acquire the two Properties.
The Acquisitions are expected to be financed by debt or alternative funding sources in line with the Manager’s capital management strategy in optimising the funding of the Trust. The above Properties will be accretive to CIT’s distribution per unit.
Cambridge Industrial Trust ("CIT"), listed on the Singapore Exchange on 25th July 2006, is Singapore's first independent industrial real estate investment trust (REIT), and a conduit for investors to Singapore's high growth industrial sector. The Trust invests in income-producing industrial properties and has an existing portfolio of 42 properties valued at $949.8 million. They range from logistics and warehousing properties to light industrial properties, all located across Singapore’s key industrial zones. This provides a secure and stable yield to Unitholders. The management team is anchored by experienced professionals with a breadth of expertise in fund, asset and property management sectors regionally as well as locally.
KSH Holdings Limited (KSH or the Group) (KSH) announced that it has secured its first-time contract with Keppel Land Realty Pte Ltd (Keppel Land Realty), a subsidiary of Keppel Land Limited. The contract, worth approximately S$53 million, is for the construction of a luxury condominium development, Madison Residences, at Bukit Timah Road.
With this additional construction project, the existing order books of the Group’s construction business now stand at more than S$658 million, with the unfulfilled contract value for all existing contracts on hand expected to cover up till the third quarter of the Financial Year ending March 31, 2011.
Kim Seng Heng Engineering Construction (Pte) Ltd (KSHEC), the Group’s 100% owned subsidiary in Singapore, was awarded the contract for the design and construction of Madison Residences, an 18-storey condominium development with one basement carpark and communal facilities at Bukit Timah Road. Construction work is scheduled to commence in June 2008 and expected to complete within 130 weeks.
KSH Holdings is a well-established construction, property development and property management group with over 28 years of experience in the construction industry. Its principal activities are construction in Singapore and Malaysia, and property development and property management in the PRC and Singapore. The Group acts as main contractors in construction projects in both the public and private sectors in Singapore, and in the private sector in Malaysia. Its wholly-owned subsidiary, Kim Seng Heng Engineering Construction (Pte) Ltd, is currently registered with the Building and Construction Authority (“BCA”) with an A1 grading under the category CW01 for general building, which is currently the highest grade for contractors’ registration in this category, and allows it to tender for public sector construction projects of unlimited value.
Biosensors International Group, Ltd (Company, BIG:SP) announced the full launch of its BioMatrix® drug-eluting stent system in major
European markets as well as in key markets in the Middle East, Africa and Asia. Developed internally by Biosensors, BioMatrix is a unique drug-eluting stent system that combines a biodegradable polymer and the company’s proprietary limus drug, Biolimus A9®. The company received CE Mark for BioMatrix in January 2008.
Together with the commercial launch, Biosensors has also begun enrollment in a comprehensive patient registry to collect five year data on the safety and efficacy of BioMatrix in up to 5,000 patients. Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents and has developed a pipeline of next-generation products that are set to gain market share from traditional therapies such as conventional drug-eluting stents, bare-metal stenting and open heart surgery. It has three separate drugeluting stent programs, BioMatrix®, Axxion™, and BioFreedom™, a completely polymer-free drug-eluting stent.
Asia Power Corporation Limited (the Company) wishes to announce that the Company has entered into a Sale and Purchase Agreement with Chung Wah Development Ltd to acquire an additional 49% stake in Asia Hydro Power Investment Pte Ltd (AHPI) (the Acquisition).
The consideration for the Acquisition is US$603,000 and was arrived at on a willing seller willing buyer basis. Prior to the Acquisition, the Company owned 51% of the equity stake in AHPI. Pursuant to the Acquisition, AHPI is now a wholly-owned subsidiary of the Company.
The Acquisition will be funded through internal resources and is not expected to have any
material impact on the earnings per share and net tangible assets per share of the Company for the financial year ending 31 December 2008.
Noble Group Limited (Noble or the Company) announced on 3 April 2008 that the Company has placed approximately 100 million new shares with institutional investors. The placement was led by JP Morgan (S.E.A.) Limited. The placement raised gross proceeds of approximately S$209 million and was subscribed by leading institutional investors in Asia, Europe and North America.
The Placement is conditional upon, inter alia, approval in principle being granted by the Singapore Exchange Securities Trading Limited (SGX-ST) for the listing and quotation of the New Shares on the Official List of the SGX-ST.
The net proceeds of the share placement will be used for general corporate purposes and to support the Group's continued business expansion.
Noble Group (SGX: NOBL) is a market leader in managing the global supply chain of agricultural, industrial and energy products. We operate from over 80 offices in more than 40 countries, serving 4000+ customers. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation. With annual revenues exceeding US$20 billion, Noble continues its transition to owning and managing more strategic assets, sourcing from low cost producers such as Brazil, Australia and Indonesia and supplying to high growth demand markets including China, India and the Middle East. Today Noble owns coal and iron
ore mines, grain crushing facilities, sugar and ethanol plants, vessels, ports and other infrastructure to ensure high quality products are delivered in the most efficient and timely manner to its customers.
Lion Asiapac Limited (the Company) wishes to announce that Compact Energy Sdn Bhd (Compact), a wholly-owned subsidiary of the Company, intends to expand its limestone processing business.
Compact will shortly commence construction of the second phase of the limestone processing plant (Phase 2) which is located in Banting, Malaysia. It is expected to be completed by June 2009. Phase 2 comprises primarily a twin shaft kiln, a quicklime crushing plant and a limestone crushing plant; the expansion will create an additional capacity of an annual production of 70,000 tonnes of quicklime, 140,000 tonnes of fine lime and 240,000 tonnes of fine stone respectively, compared to the existing production capacity of 210,000 tonnes of quicklime per annum. Compact will lease additional premises from a related company of the Company’s substantial shareholder to house Phase 2.
The aggregate amount of capital expenditure (the Investment) for Phase 2 will be approximately RM 46 million (approximately S$21 million). The Investment will be funded by internal resources.
The Company was incorporated in Singapore on 6 December 1968 as a private limited company under the name of Metal Containers (Pte) Ltd. On 18 December 1981, it turned public and changed its name to Metal Containers Ltd. In 1996, the Company was acquired by The Lion Group from Malaysia and adopted its present name. The major shareholders are currently Lion Corporation Bhd (listed on Bursa Malaysia) and Silverstone Corporation Bhd. The Group currently operates the electronics business, limestone processing business and automotive component trading business, as well as holds investments in automotive businesses in China.
Meghmani Finechem Limited (MFL), a subsidiary of SGX Main Board-listed Meghmani Organics Limited (Meghmani or Company) has roped in IFC, a member of the World Bank Group, as a strategic investor for its chlor-alkali plant, which will employ environmental-friendly and energy efficient membrane cell technology.
The Company announced today that IFC will invest INR461 million, and provide a long term loan of up to INR800 million to MFL, to undertake the project. In addition to the equity investment and loan, IFC will also have the right to subscribe to warrants of up to INR50 million.
First announced in October last year, the project involves the development of a Caustic
Chlorine Complex (CCP) in Dahej in Gujarat at an estimated cost of INR554 million (equivalent to S$1203.85 million). This large-scale, company will produce caustic soda lye/flakes, chlorine gas and hydrogen gas in the first phase. Subsequent phases will involve downstream/derivative projects based on caustic/chlorine. The complex is to utilize 4th generation Membrane Cell Technology from Asahi Kasei Chemicals Corporation of Japan, one of the most established technology providers for the manufacture of chlor-alkali chemicals in the world. Meghmani sees the investment in this project as an opportunity for the Group to achieve inorganic growth in a diversified yet chemistry-related business with positive growth potential.
With its established track record in R&D capabilities gleaned from its years in the Pigments and Agrochemical industries, the Group is able to leverage on its excellent infrastructure for MFL such as its integrated manufacturing facilities, R&D laboratories and skilled work force. The caustic-chlorine chemicals are used in a multitude of industries including pigments, pesticides, production of metals and resource materials, pulp and paper, petroleum and natural gas extraction; manufacture of organic chemicals, plastics, industrial solvents, water treatment chemicals and pharmaceuticals. For Meghmani, MFL’s plant when ready will provide it with a ready and captive source of some of the basic chemicals as the Group consumes significant quantities of caustic soda, chlorine gas and derivatives of chlorine gas for its pigments and agrochemicals operations.
Established in Gujarat (India) in 1986, Meghmani is a manufacturer of Pigments and Agrochemicals. The Company specializes in the manufacture of green and blue pigment
products that span multiple applications such as printing inks, plastics, paints, textiles, leather and rubber. Its pigment customers comprise mainly MNCs who are leading players in their respective industries. Meghmani also produces a broad spectrum of commonly used pesticides for crop and non-crop applications such as public health, insect control in wood preservation and food grain storage. The Company counts amongst its customers leading pesticide manufacturers from North America, Europe, Latin America and Asia.
DMX Technologies Group Limited (DMX or the Group), a leading information technology enabler and digital media provider announced
that it has been awarded an initial contract to implement the first provincial scale interactive digital TV platform for cable TV operator, Neimeng Broadcast TV information Network Co. Ltd (Neimeng) of Inner Mongolia, China. Neimeng, the only cable TV operator in the province of Inner Mongolia, serves a total of about 1.4 million cable subscribers. Of these, about 1.2 million are digital subscribers. Aiming to become a world class operator, Neimeng seeks to offer enhance interactive TV services to its subscribers. Under this initial contract, DMX shall supply its multi-media software platforms and implement the roll out of interactive TV services such as Video on Demand (VOD) and Time Shifting TV (TSTV) in multiple cities across Inner Mongolia, in time for Beijing Olympics in August 08.
Interactive TV service is a new value-added service adopted by advanced cable operators. With interactive TV services, cable operators have a wider spectrum to increase and expand their revenue stream. To provide such services, operators typically have to make additional investment of between US$150 to US$180 per user on hardware and software platforms. A recent Deutsche Bank report stated that most TV subscribers in China want digital programmes and interactive services, with 67 per cent wanting VOD services and
49 per cent willing to pay for such services.
DMX Technologies is a leading information technology enabler and provider of a
wide range of digital media software and solutions. The Group specialises in
providing integrated IT solutions to enable telecom operators, cable TV operators,
mobile operators, media corporations and enterprises to deliver enhanced services to
their end-users. It’s solutions range from providing service operators and enterprises
with network security, network management and optimisation, to providing systems
that enable digital media services. The Group owns a suite of proprietary multimedia
software, which provides a platform for the delivery of enhanced TV and
interactive value-added services over broadband, cable, mobile or other network
media. Established in 1999 and listed on the Singapore Stock Exchange, DMX has
built an extensive regional network of offices in Asia, including Greater China,
Indonesia, Korea, Malaysia and Singapore.
"…With the start up of our milk processing plant, China Milk will be able to cater to the entire value chain of the dairy industry – from producing quality bull semen and cow embryos of Canadian origin aimed at enhancing the breed of China’s dairy cow population and raising its overall milk yield, to producing raw milk for dairy manufacturers, and now the move downstream to process raw milk for our customers. Our enhanced product offerings, which are complementary in nature, will not only drive the Group’s top line growth, they will also enable us to enjoy economies of scale and boost growth in profitability as well."
Liu Shu Qing
China Milk Products Limited