FerroChina Limited (FerroChina or the Company) announced that Merrill Lynch has been appointed as its exclusive financial advisor to assist with a review of potential strategic alternatives available to the Company (the Strategic Review). The Strategic Review will examine and consider available opportunities with the objective of enhancing shareholder value.
In line with FerroChina’s vision of becoming the world’s largest and most efficient independent galvanised steel manufacturer, the Strategic Review will focus primarily on exploring long-term, value enhancing strategic partnerships, which may or may not result in the issue of new shares and/or other securities by the Company.
There is no assurance or guarantee that the Strategic Review will result in any specific strategic or financial transaction and no timetable has been set for its completion. FerroChina anticipates that no further announcements will be made regarding the Strategic Review unless there are material developments.
Listed on the Main Board of the Singapore Exchange on 19 May 2005, FerroChina Limited is a leading manufacturer of galvanised steel coils in Asia. Today, under the leadership of an international management team which has a combined industry experience of over 100 years, FerroChina is one of the largest independent flat steel value-added processors in China, with an annual group processing capacity of 900,000 metric tonnes ("mt"). Located in Dongbang Industrial Park, Changshu, PRC, FerroChina's customers are mainly steel distributors in the PRC and abroad. Our customer portfolio has changed, with the proportion of direct end customers from the construction, agricultural and infrastructure sectors having increased in numbers as we developed more customised products for these sectors. Our Group has also successfully diversified our dependence on the China market by exporting nearly 41% of our products to more than 30 countries globally. During the past two years, our Group's focus has been on capacity growth through expansion plans and mergers and acquisitions.
OKP Holdings Limited has secured two contracts totalling S$41.2 million from the Land Transport Authority. A S$28.5million contract in relation to the widening of Eunos Link and Jalan Eunos from Airport Road to Sims Avenue was clinched through wholly-owned subsidiary, Or Kim Peow Contractors (Pte) Ltd.
The scope of work to be carried out in relation to the widening of this 3.5 kilometre stretch of road includes the design and construction of three new pedestrian overhead bridges, road pavement, re-surfacing and drainages as well as covered linkways. Work on this project has started and is expected to complete by end-October 2010. The other contract – valued at S$12.7 million – was secured through another wholly-owned subsidiary, Eng Lam Contractors Co (Pte) Ltd. This relates to the repairs and upgrading of roads and road-related facilities in the Central Sector – including the Ang Mo Kio, Bishan-Toa Payoh, Tanjong Pajar and Jalan Besar areas - over a two year period from April 2008 to April 2010.
Some of the works to be undertaken in relation to this contract include the repair, construction and reconstruction of roads, kerbs, footpaths and other road-related facilities, the installation and realignment of vehicular guardrails and railings, and the inspection of roads and rectification of defects.
OKP Holdings Limited 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. It was listed on the Singapore Exchange of Singapore Dealing and Automated Quotation System (SESDAQ), now renamed CATALIST, on 26 July 2002. Established in 1966 by Founder and Chairman, Or Kim Peow, OKP has two core business segments, Civil & Building Construction and Road Maintenance. The Group tenders for both public and private civil engineering and infrastructure construction projects, which involve the construction of urban and arterial roads, expressways, vehicular bridges, flyovers, airport infrastructure and oil & gas related infrastructure for petrochemical plants and oil storage terminals as well as the maintenance of roads and roads related facilities and building construction-related works.
Asia Environment Holdings Limited (the Company) announced that its wholly owned subsidiary, WB Engineering & Consultancy Pte Ltd (WB Engineering), has secured a contract worth Thai Baht 188.3 million (approximately S$8.02 million) to supply fiberglass reinforced plastic pipes (FRP Pipes) for a water treatment project in Thailand.
The project, owned by the Provincial Waterworks Authority in Thailand, is an improvement and expansion of existing waterworks in Samut Sakhon Province, which is about 35 kilometres from Bangkok.
The progressive delivery of the FRP Pipes will have a positive impact on the consolidated net tangible assets and earnings per share of the Company for the current financial year.
Asia Environment Holdings Ltd is one of the leading integrated water and wastewater treatment solution providers in the People's Republic of China (PRC). Listed on the Singapore Exchange, the Group offers a comprehensive range of products and services that cover the entire spectrum of water and wastewater treatment, from planning and design to manufacturing and fabrication, construction, installation, operations and maintenance. Since its IPO in 2003, the group has also undertaken Build-Operate-Transfer (BOT) projects in water and wastewater treatment for municipals and townships.
Noble Group Limited (Noble) announced that syndication for its USD700 Million Revolving Letter of Credit and Guarantee Facility (the Facility) has successfully closed. The committed facility provides Noble with additional capacity to issue guarantees and stand-by letters of credit in support of its continuing revenue growth.
The Facility represents a 40 per cent increase over its previously signed US$500 Million Facility and extends the maturity for an additional two years. The deal was well received in the banking market with an all-in pricing on a blended utilization basis of 87 basis points per annum for top-tier participating banks.
Syndication efforts were led by the 4 mandated lead arrangers - ING Bank N.V.; The Royal Bank of Scotland; Société Générale Corporate & Investment Banking; and Standard Chartered Bank (Hong Kong) Limited. The general syndication was joined by 12 additional banks: ICICI Bank Limited, Hong Kong Branch; KfW IPEX-Bank GmbH; The Bank of Tokyo Mitsubishi UFJ, Ltd.; Commerzbank Aktiengesellschaft, Hong Kong Branch; DBS Bank Ltd; Lloyds TSB Bank plc, Rotterdam, The Netherlands; CITIC Ka Wah Bank Limited; Deutsche Bank; Commonwealth Bank of Australia; Banco Santander, S.A.; Arab Bank plc, Singapore Branch and KBC Bank N.V.
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.
Zhonghui Holdings Limited that its wholly owned subsidiary in the PRC, Shaanxi Zhonghui Environmental Conservation Co., Ltd. (Shaanxi Zhonghui), has signed a Sales & Purchase Agreement on 3 February 2008 and a Supplemental Agreement on 6 April 2008 with Beijing Ruihe Investment Co. Ltd. for the sale of Xingping BOT project-in progress (the Transaction).
Total purchase consideration is RMB 27 million which is slightly above the original construction cost of RMB 26.6 million incurred by Shaanxi Zhonghui.
A non refundable deposit of RMB 1 million was received by Shaanxi Zhonghui on 7 April 2008 and the remaining amount of RMB 9 million and RMB 17 million will be due to Shaanxi Zhonghui in 60 and 200 working days respectively.
The Group provides a suite of waste management systems solutions that include technical advisory services, design, supply, delivery, installation, commissioning and after sales support. Our customers are primarily municipalities. Our waste management systems are designed with specialised technologies. We utilise our patented technologies and proprietary know-how to design our systems and solutions to satisfy our customers’ need for an efficient and integrated waste management system.
Swiber Holdings Limited (Swiber or together with its subsidiaries, the Group) announced that it has clinched a contract with NuCoastal (Thailand) Limited for the engineering, procurement, supply, and construction of a Single Point Mooring (SPM) calm buoy.
The contract is valued at S$7,752,576. The buoy will be constructed at the yard of Swiber’s wholly-owned subsidiary, Kreuz Shipbuilding & Engineering Pte Ltd.
The buoy is targeted for delivery in 4th quarter of 2008. Upon completion, the buoy will be used by NuCoastal at its Songkhla field in Thailand as a permanent mooring system for a 30,000 dead weight tonne (DWT) Floating Storage and Offloading (FSO) vessel. NuCoastal, which is a wholly owned subsidiary of Coastal Energy Company, is an existing customer of Swiber. In November 2007, NuCoastal awarded Swiber a US$25 million project to drill a series of offshore wells in Thailand.
Swiber is a niche service provider to the Offshore Oil and Gas industry offering a wide and integrated range of offshore EPCIC, marine support and drilling services across the Asia Pacific and the Middle East. Since its foundation in 1996, Swiber has been dedicated to transforming the company into a world class leader in the Offshore Oil and Gas industry. Today Swiber is a billion dollar, public-listed company on the Singapore Stock Exchange with an eminent position among global Offshore Oil and Gas engineering and construction organisations. With an extensive and growing fleet of 29 vessels, comprising 13 tug boats, 10 barges, 1 crane barge (Dalihao), 1 jack up barge, 1 accommodation barge, 2 submersible barges and 1 pipelay barge (Swiber Conquest), and more than 500 employees in strategically located offices in the region, the Swiber name is synonymous with excellence, safety, innovation and value among its customers.
TT International Limited (the Company) is pleased to announce that it has established a S$250,000,000 Multicurrency Medium Term Note Programme (the MTN Programme). The Company has appointed DBS Bank Ltd. to act as Arranger and Dealer of the MTN Programme.
Under the MTN Programme, the Company may from time to time issue notes (Notes) in Singapore dollars or in other currencies, in various amounts and tenors, and may bear fixed, floating or variable rates of interest. Hybrid Notes and zero coupon Notes may also be issued under the MTN Programme. The Notes will be offered by the Company pursuant to exemptions invoked under Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore.
The net proceeds from the issue of the Notes (after deducting issue expenses) will be used for the purpose of refinancing the existing borrowings of the Company and its subsidiaries (the Group), financing the corporate funding requirements and general working capital of the Group. Application has been made to the Singapore Exchange Securities Trading Limited (SGX-ST) for permission to deal in and quotation for any Notes which are agreed at the time of issue thereof to be so listed on the SGX-ST. Such permission will be granted when such Notes have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of the SGX-ST and quotation of any Notes on the SGX-ST is not to be taken as an indication of the merits of the Company, its subsidiaries, its associated companies or such Notes.
Hong Kong's City Telecom (CTI) and Singapore's M1 and StarHub today signed the Consortium Agreement, as part of its bid to design, build and operate the passive infrastructure network capable of delivering ultra-high broadband speeds for Singapore.
In conjunction with the signing, all three parties today announced the official name of the Consortium that will bid for the Next Gen NBN’s Network Company (NetCo). Called Infinity Consortium, it reflects the potential of the alliance in delivering next-generation broadband technology to Singapore. The design of the Infinity Consortium logo aptly reflects this belief.
The Infinity Consortium is on track to submit its bid on 5 May 2008 in response to the Infocomm Development Authority (IDA) of Singapore’s Request-for-Proposal (RFP) for the NetCo.
The Next Gen NBN is part of Singapore's Next Generation National Infocomm Infrastructure (Next Gen NII), formed to entrench Singapore’s Infocomm hub status and open the doors to new business and social growth for the country. Next Gen NII comprises complementary wired and wireless networks to ensure Singaporeans enjoy seamless connectivity.
StarHub, Singapore's second largest info-communication company, offers a full and diverse range of information, communications and entertainment services over its advanced fixed, cable, mobile and Internet platforms. Targeting both consumer and corporate markets, StarHub operates a full two-way 3.5G mobile network in addition to its GSM network, a nation-wide HFC network that delivers multi-channel cable TV services (including Digital Cable and High Definition Television) as well as ultra-high speed residential broadband services, and an extensive fixed business network that provides a wide range of data, voice and wholesale services. Launched in 2000, StarHub has become one of Singapore's most innovative info-communications providers, and the pioneer in 'hubbing' - the ability to deliver unique integrated and converged services to all its customers. StarHub is listed on the SGX-ST.
Darco Water Technologies Limited (the Company or Darco or the Group) announced that the Group has received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) to transfer to the SGX Mainboard.
The effective date of the transfer will be on the 7th May 2008.
Listed on SGX Catalist in 2002, Darco is a provider of integrated engineering and knowledge-based water treatment solutions. Established in 1999 to design, fabricate, assemble, install, commission and service engineered water systems for industrial use in Singapore and Malaysia, Darco has developed systems and services based on both membrane and ion exchange technologies. Within a span of three years, Darco has formulated over 200 engineered water system solutions. The Group, which has operations in Singapore, Malaysia, the PRC, Taiwan, Philippines and Indonesia, serves companies across diverse industries – electronics, semiconductor, textile, food and beverage, printed circuit board and pharmaceuticals and municipal water and wastewater projects.
Swiber Holdings Limited (Swiber or together with its subsidiaries, the Group) of Singapore and CUEL Limited (CUEL) of Thailand, today signed a Memorandum of Understanding (MOU) which will allow both companies to jointly pursue offshore EPCIC (Engineering,
Procurement, Construction, Installation and Commissioning) projects in the Asia Pacific region.
Swiber is a niche service provider to the Offshore Oil and Gas industry offering a wide and integrated range of offshore EPCIC, marine support and offshore drilling services across the Asia Pacific and the Middle East. CUEL is one of the regions foremost offshore EPC fabrication contractors having executed full EPC and EPCIC contracts primarily for operations within the Gulf of Thailand. The MOU will strategically combine the competitive advantages of Swiber and CUEL to offer existing and future customers with a consolidated source of expertise to provide turnkey solutions to the regional offshore Oil and Gas industry.
Swiber and CUEL expect to enhance revenue and earnings growth by cross-offering products and services between the two organizations. Both parties also expect synergies to arise which will allow the two organizations to combine resources, skill sets and market contacts to explore opportunities in the offshore EPCIC sector in the Asia Pacific region.
Swiber is a niche service provider to the Offshore Oil and Gas industry offering a wide and integrated range of offshore EPCIC, marine support and drilling services across the Asia Pacific and the Middle East. Since its foundation in 1996, Swiber has been dedicated to transforming the company into a world class leader in the Offshore Oil and Gas industry. Today Swiber is a billion-dollar, public-listed company on the Singapore Stock Exchange with an eminent position among global Offshore Oil and Gas engineering and construction organisations. With an extensive and growing fleet of 29 vessels, comprising 13 tug boats, 10 barges, 1 crane barge (Dalihao), 1 jack up barge, 1 accommodation barge, 2 submersible barges and 1 pipelay barge (Swiber Conquest), and more than 500 employees in strategically located offices in the region, the Swiber name is synonymous with excellence, safety, innovation and value among its customers.
KARIN Technology Holdings Limited (KARIN or the Group) announced they have increased their stake in an associate company Karltec
Information System (Shenzhen) Co., Ltd. (Karltec or the Company) from 35 per cent to 70 per cent.
This will be completed in the form of loan capitalisation. KARIN through its wholly-owned subsidiary, Karin Technology (BVI) Limited, will apply for 13,462 shares of Take Talent Investments Limited (Take Talent), a BVI registered company with 100 per cent ownership in Karltec.
Take Talent will capitalize the loan from Karin of HK$2,692,400 by the issue and allotment of 13,462 shares of Take Talent. After this loan capitalisation, KARIN will effectively hold 70 per cent of the issued share capital of Take Talent.
Listed on the Mainboard of Singapore Exchange (SGX) in March 2005, KARIN is a leading IT & Electronic Solutions and Services Group in Hong Kong and the People’s Republic of China with a strong track record of more than 30 years. Since 1977, they have been primarily engaged in the electronic components and computer distribution business for various segments of the electronics industry including the communications, computer, electrical appliances and utility segments. In 1990s, they expanded their business to include outsourcing services such as IC application design solutions and data storage management solutions. Since its listing on the SGX’s Main Board, KARIN has carved out a growing presence in three core segments Components Distribution, IC Application Design and IT Infrastructure – in the PRC and Hong Kong markets.
Hisaka Holdings Ltd launches its Initial Public Offering of 90 million invitation shares priced at 23 cents each.
Established in 1992, HISAKA has transformed itself into an automation solutions provider specialising in mechanical motion products. The range of services we provide includes metallic precision manufacturing, design, integration and commissioning of mechatronics systems. HISAKA is also ISO 9001:2000 certified for its high level of management system in the procurement and stockholding of factory automation control devices and parts, components for mechanical power transmission and supply, and manufacturing of electromechanical parts. We were also recipients of the Enterprise 50 and SME 500 awards. These are attestations to our rising prominence as The reliable automation solutions provider in Singapore. The basis of our success lies in our experienced management team and our well-established network of more than 1,600 customers and 300 suppliers, whom we have fostered long-term strategic relationships and secured new customers.
“…The challenging operating conditions in 2006 actually resulted in many industry players falling into negative territory. Samudera on the other hand, managed to remain profitable. This would not have been possible without the trust and support of our valued customers, the dedication and professionalism of our employees, the commitment of our agents and suppliers, and the encouragement of our shareholders. I want to take this opportunity to thank everyone who has contributed to the success of the Group, and I look forward to your journeying with us towards many more good years ahead.”
Samudera Shipping Line Ltd