Soilbuild Group Holdings Ltd (the Company) wishes to inform that it has acquired 100% of the equity shares, comprising two ordinary shares in the capital of SB (Solaire) Investment Pte. Ltd. [SB (Solaire)], a newly incorporated company in Singapore.
The paid up capital of SB (Solaire) is S$2 and its principal activity is that of property development, investment holding and the management of commercial properties.
The investment in SB (Solaire) 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 Soilbuild Group for the current financial year ending 31 December 2008.
Soilbuild Group Holdings Ltd (Soilbuild) can trace its roots to the founding of Soil-Build Pte Ltd on 11 May 1976 by three shareholders, Mr Fong Ying Wah, Mr Lee Choon Bu and Mr Lim Chap Huat. From their initial investment of S$25,000 in 1976, the Group has grown from strength to strength over the past 30 years. Through their vision of nurturing the spirit of entrepreneurship, the founders have actively sought to attract and develop a professional management team to bring the Group forward. Today, Soilbuild is an award-winning integrated property developer with a development portfolio of mid to high-end residential properties and business space properties for multi-national corporations and SMEs.
Sino-Environment Technology Group Limited (the Group or SINO-ENV) announced that on 7 April 2008, Sino-ENV has through its wholly-owned subsidiary, Fujian Thumb Environmental Facilities Co., Ltd. (Fujian Facilities), successfully secured the agreement (the Agreement) with Catalysts & Chemicals Industries Co., Ltd. (CCIC) for the transfer of technology pertaining to the production of catalysts for deployment in de-nitrogenation (deNOx) of flue gas for coal-fired power plants.
The Agreement provides for close technical exchange and cooperation between the Group and our technical partner, CCIC. The Group’s ability in securing world class technical partnership with CCIC is a testimony to our commitment to continuing technical innovation and excellence. This cooperation with a world class technology partner, CCIC marks an important milestone in SINO-ENV’s strategy in positioning the Group in the environmental solution for power plants in the People’s Republic of China (PRC). Our Group’s ability to deliver world class deNOx catalysts through the cooperation with CCIC will enhance our marketing strategy for our network of IPP customers. The Group will roll-out the initial production facilities at our Fuzhou Plant. The initial design of the facilities for production of deNOx honeycomb-type catalysts will allow annual capacity of 6,000m3. Future expansion of our production capacity is anticipated in tandem with the future growth in deNOx environmental solution.
The plant will be operational in 1Q2009. The Group will manufacture deNOx honeycomb-type catalysts for use in the Group’s own deNOx projects as well as for sale to third party environmental solution providers in the PRC. Based on the initial capacity of 6,000m3, the Group expects revenue contribution of about RMB300 million in 2009. For 2009, the Group expect to invest RMB265 million in capital expenditure including royalty fees.
Sino Environment Technology Group limited (SinoEnv) is an environmental protection and waste recovery solution provider in the PRC. SinoEnv is the market leader in the treatment, management and recovery of volatile organic compounds (VOC), in particular toluene, from wastegas The company’s decision to focus on toluene is due to its high commercial value and wide usage by many industries, thereby resulting in good market potential for the treatment, management and recovery of toluene in various industries. In this respect, the company helps customers to achieve the twin objectives of treating polluting wastegas as well as recovering valuable toluene for use in their manufacturing processes.
CATALIST-listed infrastructure and civil engineering firm OKP Holdings Limited has secured a S$13.3 million road maintenance contract from the Land Transport Authority.
The contract, secured through wholly-owned subsidiary company, Eng Lam Contractors Co (Pte) Ltd, is for the painting and cleansing of road related facilities in the East Sector – including the East Coast, Marine Parade, Pasir Ris - Punggol and Tampines areas -- over a two-year period.
The scope of work includes supply and laying of asphalt concrete, repair to curbs and road related facilities, improvement to road related facilities, cleansing of traffic signs, street name boards, directional signs and gantry signs and inspection of roads, walkways, flyovers and related facilities and structures. Work has started and completion of the works is scheduled for March 2010.
OKP is a leading home-grown infrastructure and civil engineering company in the region, specialising in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads, as well as civil construction works for petrochemical plants and oil storage terminals in the oil and gas sector.
Global Voice Group announced it concluded an agreement with S+M Schaltgeräte Service und Vertriebs GmbH (S+M Schaltgeräte), one of the leading providers of Hard- and Software Solutions in Germany.
Under the terms of the agreement, Global Voice provisioned host¦nex, a managed hosting environment connected globally through a highly scalable global IP backbone. S+M Schaltgeräte required a highly reliable and secure platform to support the rollout of an age verification program via mobile phones for the sales of tobacco products at cigarette vending machines. The requirement was driven by the revision of a statute by the German commission of youth and media protection (KJM) in November 2006, which demanded better protection of minors in tobacco sales.
Global Voice Group developed a highly available platform comprising premium collocation and global IP connectivity ensuring extremely fast, efficient and highly reliable Internet access. Global Voice, through its global peering agreements, was uniquely positioned to deliver the highest quality IP Transit connectivity with minimum hop, minimum latency and minimum packet loss all under the highest industry service level agreements. The solution is to be deployed and managed from Global Voice’s best in class datacenter facility in Frankfurt and includes a range of managed services.
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.
Sihuan Pharmaceutical Holdings Group Ltd. (Sihuan or the Group), a leading manufacturer of cardiocerebral vascular (CV) drugs in China, has bought a majority stake in Shandong R&D Company (Shandong R&D), one of the country’s foremost pharmaceutical drug research firms.
This purchase of a 60% stake in Shandong R&D for RMB 62.5 million will pave the way for Sihuan to advance into the international healthcare market. Specialising in CV-related and anti-infection drugs, Shandong R&D screens, designs and matches chemical compounds, and analyses drug efficacy. It is one of China’s top pioneers in "me too" and "me better" drugs. "Me too" drugs have their origin in successful existing drugs and often replicate them structurally. When "me too" drugs are improved to provide greater therapeutic benefits, they are known as "me better" drugs.
Following the acquisition, Sihuan will take Shandong R&D beyond its current focus
to use its core competencies in "me too" and "me better" technology to step up the
Group’s development of CV drugs.
Sihuan is a leading manufacturer of cardiocerebral vascular (CV) drugs in China. Its products are sold via an extensive network of more than 2,500 distributors across China. Group revenue is driven mainly by CV drugs, in particular Kelinao, Chuanqing and Anjieli.
Kelinao is China’s best-selling peripheral vasolidation drug based on the drug purchases of a sample of 257 hospitals. Sihuan manufactures drugs at its own production facilities but also engages third-party contract manufacturers. In addition, it is the exclusive distributor of several drugs for an unrelated pharmaceutical company. The Group is led by an experienced management team headed by chief executive Dr Che Fengsheng and co-founder Dr Guo Weicheng. Together, they have over 15 years of experience in the sales and marketing of pharmaceutical products and management of pharmaceutical companies. Sihuan’s R&D emphasis helps drive its product development pipeline, which boasts over 70 drugs. Its R&D team works together with renowned third-party research institutions such as the Academy of Military Medical Sciences.
Mercator Lines (Singapore) Limited (Mercator) announced that it has entered into a Charter Party Agreement with Italian shipping company Augustea Atlantica SrL Charterers, for the time charter-in of a 91,800-dwt gearless Post Panamax vessel.
The new vessel is for a one-time charter-in over a period of 10 years, at a total charter hire of US$27,000 per day including overtime. It is scheduled for delivery between April 1, 2010 and October 15, 2010. The gearless Post Panamax vessel, belongs to a new generation of mega ships that are built to diameters that are compatible with expanding canal capacities.
With the Panamanian government’s political mandate to go ahead with a US$5.25 billion canal expansion project last year, the Panama Canal is expected to double in capacity by 2014. This increase in canal capacity will allow the transit of higher cargo volumes of larger vessels at relatively lower transits and water utilisation.
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.
Olam International Limited (the Company) announced the increase of its investment in the following wholly-owned subsidiaries:
(1) OLAM POLSKA SP. Z.O.O.
The Company has increased its investment in Olam Polska Sp. Z.o.o. from PLN866,000 to PLN4,366,000 through subscription of an additional 3,500 shares of PLN1,000 each at PLN1,000 per share fully paid.
(2) OLAM ARGENTINA S.A.
The Company has increased its investment in Olam Argentina S.A. from ARS12,000 to ARS3,050,000 through subscription of an additional 3,038,000 common, non-endorsable registered stocks, of ARS1 par value each, at ARS1 per share partially paid.
(3) OUTSPAN IVOIRE S.A.
The Company has increased its investment in Outspan Ivoire S.A. from XOF3,000,000,000 to XOF3,500,000,000 through subscription of an additional 50,000 shares of XOF10,000 each at XOF10,000 per share fully paid.
(4) OUTSPAN BRASIL IMPORTACÃO E EXPORTACÃO LTDA.
The Company has increased its investment in Outspan Brasil Importacão E Exportacão Ltda. from BRL2,700,000 to BRL6,000,000 through subscription of an additional 3,300,000 shares of BRL1 each at BRL1 per share fully paid.
The above transactions were funded by internal resources and are not expected to have any significant impact on the financial position of Olam group for the current financial year.
Olam is a leading global integrated supply chain manager of agricultural products and food ingredients, sourcing 14 products with a direct presence in 56 countries and supplying them to over 4,000 customers in more than 60 destination markets. With direct sourcing and processing in most major producing countries for its various products, Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and teak wood. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is now a component stock in the revamped Straits Times Index (STI). Olam received three prestigious honours at the Singapore Corporate Awards 2007 and the "Most Transparent Company" Award (Commerce) at the SIAS Investors’ Choice Awards 2007. It was also named one of Singapore’s top 10 globalised companies by International Enterprise ("IE") Singapore in its third annual Singapore International 100 Ranking 2007.
HLN Technologies Limited (HLN or The Group) announced that it has secured a US$3.7 million contract to supply a world-renowned technology customer with high-grade, thick aluminum plate for use in the manufacturing of wafer fabrication chambers.
Listed on 25 November 2005, HLN Technologies Limited ("HLN Tech") is involved in the manufacture and sale of a wide range of customized precision metallic, elastomeric and polymeric components and a regional MSC player, which are used in a variety of industries principally in office automation, consumer electronics and automotive industries. HLN Tech has in-house material formulation and compounding facilities where it blends the mixture of elastomers and other ingredients to make rubber compound, a raw material used in the production of its precision elastomeric and polymeric components. Beside the manufacture and sale of customized precision elastomeric and polymeric components, HLN Tech also specializes in providing precision polymeric die-cutting services according to customers’ design specification and requirements. Its production facilities are located in Singapore; Johor, Malaysia; Batam, Indonesia, Shenzhen and Suzhou, PRC and supported by sales offices in Singapore, Batam, Indonesia, Shenzhen and Suzhou, PRC and Italy. Its customers include multinational corporations with presence in South East Asia, Japan, USA and the PRC.
Natural Cool Holdings Limited (the Company or the Group) announced that the Company’s subsidiary, Natural Cool Investments Pte Ltd (Natural Cool Investments or Purchaser) has entered into a sale and purchase agreement (the SPA) with Inter-Roller Engineering Limited, (the Vendor) for the purchase of 20 Benoi Crescent, Singapore 629983 (the Property) (the Acquisition).
The Property is a 2-Storey Detached Factory with tenure of 30 years commencing from 1 November 1989 with an extension for the further leasehold term of 30 years upon the expiry thereof. It has an approximate land area of 13,285.1 square metres. The purchase price for the Property is S$11.5 million (the Purchase Price). The Purchase Price was arrived at on a "willing buyer willing seller" basis after taking into account the Valuation Report dated 6 March 2008 by GSK Global Pte Ltd and various commercial factors including the location of the Property and comparing recent transacted prices in the vicinity. Based on the Valuation Report, the open market value of the Property is S$11.9 million.
The Company is of the view that Purchase Price for the Property is fair and reasonable. A 5% deposit of the Purchase Price being S$575,000 has been paid to the Vendor. The remaining sum of S$10,925,000 shall be paid on completion of the SPA. The Purchase Price, which is payable in cash shall be fully funded through internal funds and bank borrowings.
Established in 1989 and listed on Catalist (formerly known as SESAQ) in May 2006, Natural Cool provides installation, maintenance, repair and replacement services for air-conditioning systems to the residential segment, both public and private; and commercial sectors, which include factories, offices, condominiums, schools and hospitals, in Singapore. In addition, the Group sells air conditioning components and tools used for the installation and servicing of air-conditioning business. The Group also manufactures and sells switchgears through mechanical and electrical (M&E) contractors to public and private property developments. Started in 2003, the Group’s switchgear division designs and manufactures switchgear products customised to meet specific requirements of its customers. The Group has extended its geographical reach into the region since 2005 and now has a presence in China, India, Cambodia and Vietnam. Its subsidiary, VNS Manufacturing (S) Pte Ltd, the Group’s switchgear division that specialises in the design, manufacture and sale of switchgear products, was recently awarded an exclusive distributorship by Indian-based, Larsen & Toubro Limited ("L & T") for the exclusive marketing of L & T’s electrical standard products in Singapore. Founded in 1938, L & T is India’s largest engineering and construction conglomerate with interests in electrical, electronics and information technology.
Inter-Roller Engineering Limited (the Company) wishes to announce that it has entered into a conditional sale and purchase agreement dated 8 April 2008 (the Sale and Purchase Agreement) with Natural Cool Investments Pte Ltd (the Purchaser) for the sale of leasehold property at 20 Benoi Crescent, Singapore 629983 (the Leasehold Property) by the Company to the Purchaser (the Proposed Disposal).
The Purchaser is a subsidiary of Natural Cool Holdings Limited (Natural Cool), a company listed on the Singapore Exchange Limited.
The sale price of S$11,500,000 was arrived at a willing buyer willing seller basis and was negotiated on an arm’s length basis. The Purchaser has paid the sum of S$575,000, being a 5% deposit of the sale price and shall pay the remaining sum of S$10,925,000 on completion of the Sale and Purchase Agreement.
Inter-Roller Engineering Limited is an international engineering corporation listed on the Main Board of the Singapore Stock Exchange. ISO 9001:2000 certified, we are one of the world's leading engineering companies in the design and manufacture of Airport Logistics Systems such as Airport Baggage Handling Systems, In-flight Catering Systems, Air Cargo Handling Systems and Parcel Handling Systems.
Ascendas Property Fund Trustee Pte. Ltd. (APFT), as Trustee-Manager of Ascendas India Trust (a-iTrust), wishes to announce that its
indirect subsidiary, Information Technology Park Investment Pte Ltd has been amalgamated with its holding company,
Ascendas Property Fund (India) Pte Ltd, with effect from 19 March 2008. Following the amalgamation, Ascendas Property Fund (India) Pte. Ltd. (the Singapore SPV), which holds shares in trust for a-iTrust will hold 92.8% of the issued share capital of Information Technology Park Limited.
The said transaction is not expected to have any material impact on the net tangible assets or distribution per unit of a-iTrust for the financial year ending 31 March 2009.
Ascendas India Trust (a-iTrust), seeded by four world-class IT parks in India, provides investors an opportunity to invest in India's fast-growing economy. a-iTrust is established with the principal objective of owning income-producing real estate1 used primarily as business space in India. a-iTrust may acquire and develop land or uncompleted developments to be used primarily as business space, with the objective of holding the properties upon completion.
Soilbuild Group Holdings Ltd (Soilbuild) has won the Concept-and-Fixed Price Tender (CPT) called by JTC Corporation (JTC), to develop and lease Fusionopolis Phase 2B. The proposed development is a 16-storey multi-tenanted facility at one-north that will cater to the infocommunications, media, science and engineering research and development industries. This is Soilbuild’s fifth CPT win awarded by JTC.
With a site area of 7,734 square metres (sq m) and a plot ratio of 6.5, the proposed Fusionopolis Phase 2B facility can be developed up to a maximum gross floor area of 50,271 sq m. It will comprise an office space white component approximating 7,200 sq m and a retail space of 300 sq m.
The development cost is estimated to cost about $148 million and will take 22 months, till the second half of 2009, to complete.
JTC welcomes its first public-private developer partnership within the Fusionopolis cluster. This is part of JTC’s effort to facilitate the active private sector participation in the industrial property market.
Soilbuild is an integrated property developer with an established track record of more than 30 years, whose portfolio includes residential and business space properties. Led by an experienced management team that blends a strong entrepreneurial spirit with extensive technical expertise, the Group has a unique business strategy. It enhances returns and manages risks by shortening its investment-to-sales cycle. By leveraging on its strengths in design and innovation, Soilbuild maximises yields on its properties. The Group has successfully acquired and developed a range of residential properties, mainly in prime urban districts. Projects under development include Leonie Parc View and One Tree Hill Residence, and completed properties include Pinnacle 16. Since 2005, Soilbuild has developed a wide portfolio of properties purpose-built for business use by MNCs and SMEs. It has worked closely with JTC Corporation under the Developer Partnership Programme and leveraged on its expertise in ‘design, build and lease/sell’ schemes to become a leading player in the business space segment. Upcoming projects include Fusionopolis Phase 2B and Tuas Connection, and completed properties include Eightrium @ Changi Business Park and Kranji Linc. Since 1998, Soilbuild has won five Enterprise 50 Awards and five Singapore SME 500/1000 Awards.
Rickmers Trust Management Pte. Ltd. (RTM), trustee manager of Rickmers Maritime (the Trustee-Manager) announced that it
has secured new credit facilities amounting to US$627.5 million with leading international banks, amidst a demanding credit environment.
Rickmers Maritime will benefit from attractive interest rates, which range from 0.95% to
1.20% above US$ LIBOR per annum. A significant portion of the credit facilities will be
hedged thereby fixing its future cost of debt financing. In the current low interest rate
environment, the overall cost of these credit facilities will be lower than that which was
secured for the existing facility.
The three new credit facilities, amounting to US$497.5 million, have been secured with
the following banks:
- BNP Paribas as lead bank together with Fortis, HSBC, ING, and Scotia Bank
In addition, Rickmers Maritime has arranged for a US$130.0 million top-up facility on its existing IPO credit facility, with HSH Nordbank, DBS and Citibank.
With US$45.0 million of this existing facility undrawn, these new credit facilities will increase Rickmers Maritime’s available debt financing in place to approximately US$672.5 million, which will be used to partly finance the nine previously announced 4,250 TEU panamax containerships due to be delivered in 2008 and 2009.
After signing conditional memoranda of agreement to acquire 13 vessels, Rickmers
Maritime will grow its fleet to 23 vessels from its initial contracted fleet of 10 containerships, bringing its aggregate capacity to 131,560 TEU over the next three years.
Rickmers Maritime is a 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 consists of a fleet of 23 containerships, including 13 containerships, as announced on 19 March 2008 which Rickmers Maritime has signed conditional memoranda of agreement to acquire. These vessels, ranging between 3,450 TEU and 13,100 TEU, will have, on delivery to Rickmers Maritime, long-term, fixed-rate time charters in place, allowing Rickmers Maritime to maintain stable operating cash flows and high utilisation rates.
COSCO Corporation (Singapore) Limited (COSCO or the Company), a leading ship repair, shipbuilding & marine engineering and dry bulk shipping group, is pleased to announce that its 51%-owned COSCO Shipyard Group ("CSG") had won high-value offshore and tanker building contracts totaling approximately S$402.4 million or US$292.3 million.
CSG signed the new offshore platform contract worth RMB923 million (approximately US$131.8 million or S$182.1 million) with an American owner for constructing a hull of semi-submersible production unit. Though priced in Chinese-Yuan, the contract provides that payment will be made in US-Dollar at the prevailing exchange rate on payment date. The unit will be fabricated in COSCO Nantong Shipyard and its new offshore construction facilities in Qidong. Deposit of US$3 million has been received and the project is targeted for completion in 2010.
CSG had also been awarded a contract by a Danish owner to build two 59,000-dwt shuttle tankers with total valued of €101.2 million (approximately US$160.5 million or S$220.3 million). The two tankers will be constructed in COSCO Nantong Shipyard and are scheduled to be delivered around June and December 2011. This is the second shuttle tanker building contract of Cosco Nantong Shipyard after the yard secured contract to build two 10,500-dwt shuttle tankers two months ago. The customer had agreed to pay 65% of the contract value as first installment.
Listed on the main board of the SGX, COSCO Corporation (Singapore) Ltd ("COSCO") is a leading ship repair, shipbuilding & marine engineering and dry bulk shipping group. The Group owns 51% of the largest shipyard group in China, COSCO Shipyard Group, and a fleet of 12 dry bulk carriers. It also operates shipping agencies. COSCO is the listed subsidiary of China Ocean Shipping (Group) Company, the largest shipping group in China.
AusGroup Limited (AGL or AusGroup or the
Group) announced that its Singapore subsidiary, Cactus Engineering & Trading Pte Ltd (Cactus) has received additional orders from Aker Kvaerner to build riser telescopic joints (Telescopic Joint).
This is in addition to the S$7-10 million initial contract secured by Cactus in August 2007.
Telescopic joint is a critical component of the drilling riser string that connects the drilling rig platform to the sea-bed structure. This specialized equipment facilitates vertical movement of a drilling vessel during drilling operations.
In addition, Cactus’ production capacity expansion is on schedule with the fabrication workshop on schedule to commence operations in June 2008 while the machining workshop will commence works by January 2009. Both facilities have overhead cranes and have floor areas of more than 4000 square metres. This represents a production space increase of approximately 70% above the current two properties owned by Cactus. The additional space will bring about addition value- adds that will be developed through efficiency and external assembly areas.
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.
Anwell Technologies Limited (Anwell or The Group) has announced that the name of their subsidiary "Dongguan Anwell Electronics Co. Ltd." will be changed to "Anwell Thin Film and Vacuum Technology Ltd." The management will dedicate this subsidiary to explore further opportunities with the Group’s core competencies in Thin Film and Vacuum Coating Technologies. In the near future, optical disc production equipment will remain as the Group’s primary business to capture the opportunities in Blu-ray technologies.
Along with the new business structure of the Group, it is scheduled to complete the R&D for the Group’s first thin film solar module production equipment in the second half of 2008. The subsidiary will explore the various opportunities that Thin Film and Vacuum Technologies can be applied in. Some of these applications are: TCO and ITO coatings, Thin Film Solar Cell, Low-E coatings on glass and etc.Currently, the Group is on track to complete their R&D for the solar cell production system and has already completed the R&D for the large scale sputtering machine. The machine is capable of sputtering metallic thin film, ITO ("Indium Tin Oxide"), TCO ("Transparent Conductive Oxide") and Low-E ("Low-Emissivity) glass.
The PECVD tool for deposition of p-i-n silicon thin film is expected to be finished by June 2008. The group is expected to offer complete turnkey solution for the thin film solar cell manufacturers by FY09.
Anwell Technologies Ltd. ("Anwell") is a global leader in providing integrated business solutions for the optical media replication business. The Group’s activities include the design, manufacture and sales of innovative and cost efficient optical media replication systems. The Group also provides customers with the necessary technical expertise, business knowledge, production systems and service support worldwide. In 2007, the Group built a synergistic platform by integrating into optical media replication business. Leveraging with its core competencies in high-precision and automation technologies, Anwell is targeting to be a world class equipment manufacturer in different high-technology industries.
Sihuan Pharmaceutical Holdings Group Ltd. (Sihuan or the Company) announced that its manufacturing arm, Beijing Sihuan Pharmaceutical Co., Ltd (Beijing Sihuan), has obtained approval from China’s State Food And Drug Administration (SFDA) to manufacture and sell injections of monosialotetrahexosylganglioside sodium, which uses the product name "Aogan" and is commonly known as "GM-1". The Board is of the view that the launch of this product will represent another milestone for Sihuan.
GM-1 aids neurologic repair and clinical recovery in cases of vascular or traumatic central nervous system injuries. The drug uses GM-1 ganglioside, a portion of the cell membrane that helps control cell growth, development and healing following an injury. The drug is also used on patients with Parkinson's disease, who suffer damage to certain brain cells.
Currently, GM-1 is one of the few drugs in China which are able to repair and recover the damaged cells. GM-1 in injectable form was imported into China a decade ago. The drug was well-received and demand is growing at an average rate of 20-30% a year. The market size for GM-1 has grown from RMB 400 million in 2006 to RMB 600 million currently. The launch of GM-1 will improve our product mix and complement our offerings in the cardiocerebral vascular sector. Paired together, GM-1 and Kelinao help mitigate damage to brain cells, while GM-1 and Chuanqing can improve blood circulation so as to aid recovery.
Sihuan’s GM-1 is of a higher quality than that used in existing products in the market. Research and clinical trials were conducted by renowned experts from China’s Academy of Military Medical Sciences. The actives sourced are approved by the US Food and Drug Administration and is already used there for the manufacturing of a similar drug approved to treat Parkinson’s disease. As a result, Sihuan will enjoy advantages in terms of pricing and sales in China.
A leading pharmaceutical company in the field of cardiocerebral vascular drugs in the PRC, Sihuan Pharmaceutical Holdings Group Ltd focuses on the research and development (R&D), production as well as sales and marketing of cardiocerebral vascular (CV) and noncardiocerebral vascular (NCV) drugs in different forms and dosages.
United Fiber System Limited (Unifiber) announced that its wholly owned subsidiary, PT Marga Buana Bumi Mulia (PT MBBM) has on 10 April 2008 executed the Engineering, Procurement and Construction Contract (EPC Contract) and the Supplier’s Credit Agreement (Supplier’s Credit Agreement) with China MCC20 Construction Co. Ltd (MCC20) for the construction of a bleached hardwood kraft pulp mill in South Kalimantan with a capacity of 600,000 air dry tonnes per annum (the Project).
Under the EPC Contract, MCC20 is responsible for, inter alia, the design, engineering, procurement and supply of all machinery and equipment, civil work, construction and the installation work required to set up a complete pulp mill for a consideration value of approximately US$893 million. MCC20 shall be responsible for financing 75 per cent of the total development costs in the form of a supplier’s credit (terms described below) and PT MBBM shall be responsible for the remaining 25 per cent (the Advance Payment).
In the EPC Contract, both parties agree on the standards with regards to the design and engineering, construction, procurement, testing, commissioning, check and acceptance, of which details of the specifications form an integral part of the contract. The main machineries for the Project are intended to be supplied by Andritz OY of Finland. The commencement of the work will take place within 90 days of the date of the contract. Prior to the effective date of the EPC Contract, both parties agree to work on among other things, the project scheduling, delivery schedule, the issuance of the performance bonds, the finalization of all related insurances and the financial closing for the Project. The mill is expected to be completed within 30 months after the effective date of the EPC Contract.
The Company was incorporated in December 1995 in the Republic of Singapore as Poh Lian Holdings Pte Ltd, a private limited investment holding company working in the construction industry. In conjunction with the initial public offerings, the Company was subsequently converted into a public limited company in May 1997 and changed its name to Poh Lian Holdings Limited. The Company has been listed on the main board of the Singapore Stock Exchange since then. In April 2002, the shareholders of the Company approved a plan to venture into the forestry and pulp businesses. The restructuring exercise involved the acquisition of the entire issued and paidup share capital of Anrof Singapore Ltd group of companies with a forest concession right and extensive forest plantations in Indonesia and with a licence to build and operate a bleached hardwood kraft pulp mill in Indonesia with an annual production capacity of 600,000 tonnes of pulp. The Company name was changed to United Fiber System Limited ("UFS") to reflect the new core businesses of forestry and pulp production.
SMB United Limited (the "Company") would like to announce that it has registered a wholly-owned subsidiary, SMB United (HK) Limited ("SMBHK").
SMBHK is incorporated in Hong Kong with an initial paid-up capital of HKD1.00. The principal activity of SMBHK is to carry out the businesses of manufacturing and trading of electrical and electronic goods.
The above investment in SMBHK is in line with the Group’s expansion strategy of increasing our market presence regionally.
The above investment is funded by 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 current financial year.
Headquartered in Singapore with a strong regional presence, our Group manufactures and distributes switchgears and other monitoring products, EDMI electronic revenue meters, our own widely-recognised Rudolf™ brand of controllers, instrumentation and power quality systems. In Singapore, our Group has a dominant market share in the switchgear arena. We provide comprehensive sales support and professional expertise for our diverse range of products to customers around the world. In EDMI, we also engage in the design, manufacture and sale of electronic revenue meters for use principally by utility companies involved in the generation, distribution and supply of electricity. Today, our proprietary web-based power system monitoring tool, PowerSignature, continues to make inroads into new regional markets. We are also a key provider of high-tech building automation and control systems and has carved a niche in the sanitary fittings and plumbing services market. Over the years, our Group has established a strong multiple-sector clientele base comprising a balanced mix of institutional, commercial and industrial customers.
Tiong Woon Corporation Holding Ltd (the Company) announced that it has increased its investment in Tiong Woon Thai Co., Ltd (TWTC) by the subscription of additional 60,000 ordinary shares at the par value of Baht one hundred (100) per share, paid in cash, in the capital of TWTC.
Consequent to the above, TWTC will have an issued and paid up capital of Baht twelve million (12,000,000).
The above investment is funded by internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year.
Tiong Woon Corporation Holding Ltd is a specialist and total integrated services provider in heavy lift, heavy haulage and marine transportation mainly serving the Oil & Gas, Petrochemical and Power industries. The Company manages turnkey projects for International Builders and Contractors from planning and design of heavy lifting and haulage requirements to the execution stage in which the heavy equipment is transported, lifted and installed at customers' facilities.
Sun East Group Limited (Sun East or the Group) announced that it will be issuing
US$8,000,000 zero coupon convertible bonds (the Bonds) due 2011 with 3,500 warrants (the Warrants). Holders of the Warrants can exercise their rights to subscribe for an aggregate of 29,932,608 new ordinary shares of par value HK$0.25 each in the capital of the Company (the Shares) at an initial exercise price of S$0.161 for each Warrant, subject to terms and conditions under the Warrants instrument to be entered into upon completion. The Bonds, if issued, will be in registered form in denominations of US$1,000 each and may be converted into conversion shares at any time from the date of issue to seven days prior to the third anniversary from the date of issue.
The conversion price of the Bonds is S$0.185 per Share, representing a 15.6% premium over S$0.16, the closing price of the Shares traded on the SGX-ST on April 10, 2008.
The Company will be seeking shareholders’ approval for inter alia the proposed issue of the Bonds, the Warrants and the new Shares to be issued upon conversion of the Bonds and exercise of the Warrants at a special general meeting to be convened. It is also intended that the Group will be granted a US$7 million term loan facility by ABN AMRO N.V. (Hong Kong Branch).
Sun East intends to use the net proceeds for the partial redemption of US$15 million worth of Secured Floating Rate Notes (the Notes) due 2009, which were issued to Deutsche Bank AG, acting through its Hong Kong Branch, in January 2007, and the financing of the Group’s acquisition of the remaining 49% stake in its subsidiary, NuXD, as well as the potential acquisition of a strategic stake in ChinaWine Group Company Limited (ChinaWine). The remaining proceeds will be used for general corporate financing and working capital purposes. The Group intends to fully redeem the Notes through US$5 million of the net proceeds of the Bonds and the remaining amount from working capital as the Notes are subjected to an aggregate interest rate of 4.5% per annum and the 6-month London Interbank Offered Rate (LIBOR). In the event the Group decides not to exercise its Option or proceed with the ChinaWine Acquisition, the proceeds originally set aside for such purposes shall be applied towards the Group’s general working capital purposes. ABN AMRO N.V., London Branch is the arranger of this convertible bond issue.
Sun East is a consumer brand development and management group in the PRC. The Group develops and distributes a wide range of beauty, skincare and hygiene products which are sold under its own brands in the PRC and Hong Kong. The Group’s brand portfolio includes "3-Yuan" ("3源
") for beauty products, "Sha Lang Xue Fu" ("莎郎雪夫") and Miellé for skin care products and "Shao Bing" ("哨兵") for hygiene products. In February 2007, the Group added Cruiser ready-mixed vodka drinks and Coors Light beer to its brand portfolio with the acquisition of its 51% subsidiary NuXD
International Limited ("NuXD"). NuXD holds the exclusive distribution rights for Cruiser drinks in Taiwan, Hong Kong and the PRC, and for Coors Light beer and EFFEN Vodka products in Taiwan.
Sarin Technologies Ltd (Sarin or the Group) has entered into an agreement with the shareholders of Galatea Ltd (the Vendors) to acquire a 100% equity stake in Galatea, an Israeli company engaged in the development of a unique and innovative technology for the fully automated evaluation of internal features in rough and polished diamonds (the Acquisition).
Currently, there is no similar cost effective automated system for the evaluation of a diamond's internal features in the market. Galatea’s technology of fully automated internal feature evaluation will provide diamond manufacturers with a technology to significantly improve the realised yield of rough stones. The commercialisation of this technology will not only increase the Group’s revenue through product range expansion, but is also expected to boost the sales of Sarin’s existing rough diamond planning products.
The total consideration for the Acquisition is US$10.77 million, of which US$9 million is to be paid in cash and the balance through the issuance of 6,859,225 new shares of Sarin. The cash consideration will be funded by internal resources as well as proceeds from the Group’s IPO. Upon and subject to the achievement of certain annual sales targets, the Vendors shall be entitled to receive additional payments during a 4-year sales period from additional sales of the product, revenue generated from operations of the product in Sarin’s service centers as well as the potential future application of the technology to polished diamond evaluation.
Established in Israel in 1988, Sarin is a worldwide leader in the development, manufacture and sale of precision technology products based mainly on automated three-dimensional geometric measurement (metrology) for the production of polished diamonds. Sarin products provide smart solutions to the diamond dealer, manufacturer, retailer and gemologist in making the right decision at every stage and aspect of diamond design, manufacturing and sale. This includes determining the optimal yield from a rough stone, laser markings for cutting rough stones, a green-laser system for sawing, cutting and shaping of rough stones and an innovative facet polishing solution for rough diamonds. In addition, we provide products for measuring and analyzing polished diamonds, inscription on polished diamonds and technology that assist sales in jewelry stores. Hence, Sarin’s products increase the profit margins at all stages of the trade between the purchase price of rough stones and the price of polished diamonds.
"…Our record profits in 2007 reflect the enterprise of our team and the hard work put in by committed and loyal staff over the past few years. We would like to express our heartfelt appreciation for the consistent support of our customers, partners, shareholders, staff and the Board. We look forward to their continued support in the coming year as well. While there is some uncertainty over the near-term outlook, the Group is well-positioned to achieve greater success by being nimble and remaining prudent. Having forged ahead last year on the back of a robust economy and buoyant property market, I am confident that the Group is poised to reach new heights in 2008 by capitalising on new growth opportunities."
Fong Ying Wah
Soilbuild Holdings Ltd