Raffles Education Corporation Limited
(RafflesEducationCorp or the Group) announced that it has on May 23, 2008, entered into an agreement to fully acquire Shaan Xi Ruizhi Education Investment Co., Ltd (SXRZ), through its wholly-owned subsidiary in China, Value Vantage Investment and Management (Hangzhou) Co., Ltd (VVIM).
SXRZ is a company involved in the business of secondary and higher education investment, providing consulting services in relation to vocational and technical education, training and international education. It also manages and operates a higher vocational institute, Shaan Xi Electronic Information Institute, which provides diploma courses in computer science & information technology.
Under the terms of the agreement, VVIM will fully acquire SXRZ for a purchase consideration of RMB 44 million (approximately S$8.7 million), from the existing shareholders of SXRZ. The acquisition will be funded either through external financing, internal resources,
or a combination of both external financing and internal resources.
Listed on the Mainboard of the Singapore Exchange, RafflesEducationCorp is the largest private education group in Asia. Since establishing its first college in Singapore in 1990, the Group has grown to operate three universities and 19 colleges across nine countries in the Asia-Pacific region: Singapore, China, India, Vietnam, Malaysia, Thailand, Mongolia, Australia and New Zealand. The Group also owns the Oriental University City in Langfang, Hebei Province, China – a 3.31 million square metres self-contained campus. Within this campus, there are 19 colleges with 57,000 students.
Global Voice Group announced that it has concluded an agreement with German IT Services Provider ICF Systems AG (ICF). Under the terms of the agreement, Global Voice will deploy IP¦nex – a next generation suite of massively scalable, high performance IP solutions – providing ICF with the highest performance access to the Internet.
ICF Systems AG, one of the foremost IT Service Providers in Germany, demanded a secure and highly available IP solution to service their ever increasing customer base in the financial and industrial sectors. Global Voice Group provided ICF with Tier 1 IP transit connectivity from Global Voice Group’s datacenter in Frankfurt, enabling ICF with the fastest, most reliable and secure Internet access, warranting the entire solution under a single Service Level Agreement (SLA).
IP¦nex is Global Voice Group’s suite of IP based solutions delivered over Tier 1
IP Transit and dedicated Global Voice infrastructure in the main. Due to our
unrivalled peering relationships and ownership of an extensive pan-European
network, Global Voice is uniquely positioned to deliver best in class communications solutions required for carriers, service providers and corporations alike.
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 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’s product set ranges from On- Demand Networking and Solutions to Bespoke Networking. We have pre-provisioned over a terabit of capacity throughout our network, meaning we can deliver solutions such as datacenter, internet exchange or stock exchange connectivity in hours, not months. Global Voice Group, traded as euNetworks in Europe, is headquartered in Frankfurt, publicly listed on the Singapore stock exchange. Global Voice is a member of euroone, a unique collaboration to deliver infrastructure and next generation networking solutions connecting Eastern, Central, Western Europe and North America
Devotion Energy Group Limited (the Company) announced that its wholly-owned subsidiary, Guangzhou Devotion Domestic Boilers Manufacturing Co., Ltd (GDD), has acquired 51% equity interest of Shaoxing Aike Electric Co., Ltd (Shaoxing Aike). Shaoxing Aike was incorporated in Shangyu city, Zhejiang province, PRC in October 2007 with an authorised share capital of RMB 3.0 million. Shaoxing Aike is currently in the business of design, manufacturing and sales of electric equipments, manufacturing and sales of mechanical and electronic integration products, general import & export business, and etc.
GDD invested RMB 2.04 million into Shaoxing Aike and acquired 51% equity interest of enlarged share capital of RMB 4.0 million of Shaoxing Aike. The consideration was arrived on the basis of net assets value of Shaoxing Aike as at 31 October 2007, which was audited by Shangyu Tongji Assets Appraisal Co., Ltd, an independent China valuer appointed by GDD. The acquisition was satisfied by internally generated funds of GDD.
Shaoxing Aike has the technical ability to manufacture and supply GDD with its own brand gas injection valves and blowers, which are currently supplied to the Company by overseas manufacturers at a premium. With the rapid growth of domestic boiler business of the Company, it is essential for the Company to explore alternative raw material supply channel and secure the supply effectively and economically. The acquisition of Shaoxing Aike would enable the Company to tap into the raw materials domestic market for its domestic boiler products.
Devotion Eco-Thermal is a specialist in the development and fabrication of energy saving and environmentally friendly central heating infrastructure and related thermal equipment. We offer an extensive range of products ranging from the industrial grade thermal equipment, such as our customized steam boilers for industrial users, to domestic heater for individual household user marketed under the "Squirrel" series of domestic boiler. We are also a turnkey central heating facilities service provider to townships, residential estates and commercial properties through long term Build Own Operate contracts with municipal authorities, properties developers and owners.
Swissco International Ltd (Swissco or the Group), announced that the Group has agreed to present the National University of Singapore (NUS) with a cash gift of S$200,000, to provide bursaries for qualified medical undergraduates who are in need of financial assistance.
An expendable bursary fund will be set up at the Yong Loo Lin School of Medicine, with two bursaries valued at S$20,000 each to be awarded annually to needy students.
Named as the Swissco International Bursary by NUS in recognition and appreciation of Swissco’s contribution, these bursaries will be used to support students whom have met the University’s approved guidelines from their freshman year till graduation, as long as these students meet the University’s financial means testing in subsequent years.
With a history that dates back to 1970, Swissco is today one of the leading Singapore marine company that provides a modern fleet of offshore support vessels and specialised marine transport solutions to the oil and gas industry within South East Asia and beyond. Our Group also operates tugboats, barges and boats for charter in the Out-Port-Limit (OPL) catering to the ships passing Singapore on route to next ports. Swissco also operates a 3000DWT dockyard and 2 slipways in Singapore with the capabilities to carry out dry-docking and afloat repairs for its own fleet as well as for customers operating smaller to mid-sized vessels. Swissco received an award for “Most Transparent Company Award 2007” during the SIAS INVESTORS’ CHOICE AWARDS 2007.
Swissco International is a Singapore-based marine service provider for the shipping and offshore Oil and Gas industries. With vessel deployment spanning from Indonesia, Malaysia, Vietnam and Thailand—even as far as East Africa, Japan and Russia—our Group is renowned for providing complete marine and shipping solutions to a wide variety of customers. Our Group owns and operates a young fleet of offshore support vessels, OPL boats, tugs and barges. Our investments also include a private waterfront facility that handles fabrication and warehousing in Singapore; a ship repair yard with a 3,000 DWT and two slipways which has the capacity to provide dry dock and a float repairs for mid-sized suppport vessels.
Raffles Education Corporation Limited
(Raffles Education Corp or the Group) announced two joint ventures (JV) with Educomp Solutions Ltd. (Educomp) in India and China. This represents the Group’s first partnership in India and accelerates its growth in one of the largest markets in the world.
Educomp is the first education company to be listed in India, and the country’s largest K-12 education company. Established since 1994 and listed in 2006, Educomp has grown into one of India’s largest listed companies by market capitalisation, with a valuation of 68.9 billion Indian Rupee (INR) (approximately S$2.2 billion) as at May 26, 2008. With its dominant niche focus in the K 12 education market, which covers from kindergarten through to 12 years, Educomp has fortified its position as the forerunner of various pioneering initiatives in the education space. Educomp has built up a strong track record, working with over 7,000 schools across India, the United States and Singapore, as well as with various governments and ministries from other countries. The JV in India will bring the entire suite of the Group’s professional development programmes and courses to the country, providing Educomp’s large student population with meaningful alternatives when they graduate from high school. Educomp currently works with six million school students and aims to widen its reach to 10 million students by 2010. Some of the Group’s programmes and courses that will be brought to India include award-winning programmes in design, executive management, and hospitality. The JV in India will also be committed to localise and create India-specific programmes and courses, to address the employability gap in the country. Under the terms of the JV, the existing Raffles Design Institute in Mumbai will be merged into the JV operations. The 50:50 partnership is targeted to receive a total of
approximately US$100 million investment from both parties, and programmes will be
rolled out over the next two to three years.
In China, the JV will bring the entire suite of Educomp’s extensive programmes and products for K-12 education to the country. Educomp’s successful products such as
Smart Class™ and ICT Solutions, as well as online programmes such as MathGuru, have revolutionised delivery of education content in classrooms in India. Both parties plan to invest a total of about US$50 million over two years in the China JV.
Listed on the Mainboard of the Singapore Exchange, Raffles Education Corp is the largest private education group in Asia. Since establishing its first college in Singapore in 1990, the Group has grown to operate three universities and 20 colleges across nine countries in the Asia-Pacific region: Singapore, China, India, Vietnam, Malaysia, Thailand, Mongolia, Australia and New Zealand.
Willas-Array Electronics (Holdings) Limited (Willas-Array or The Group) net profit rose 17.1 per cent to HK$46.7 million for the full year ended 31 March 2008, up from HK$39.9 million last year. Group revenue grew by 15.6 per cent from HK$2.2billion to HK$2.5 billion.
For FY2008, sales contributions from China increased 32.6 per cent to HK$1,303.8 million, while sales contributions from Hong Kong inched up 5.1 per cent to HK$1,124.5 million. Together, the two markets account for 95.3 per cent of the total group revenue.
Overall gross margin rose 11.7 per cent from 11.4 per cent in the previous year. Based on the latest full-year results, basic earnings per share increased from 13.43 HK cents to 14.82 HK cents in FY2008. Net asset value per share increased to 122.69 HK cents as at March 31, 2008 compared to the previous year. In light of the good results, the Directors of the Board have recommended a first and final dividend of 1.3 Singapore cents per share. If approved at the Annual General Meeting on July 28, 2008, the dividend will be paid out to shareholders on 20 August 2008.
Established in the early 1980s and listed on the Main Board of the Singapore Exchange in 2001, Hong Kong-based Willas-Array is principally engaged in the distribution of active and passive components for use in the audio/video, telecommunications, industrial, consumer and computer segments. Backed by long-standing relationships with over 20 reputable Principals, Willas-Array carries a wide product mix, distributing and marketing in excess of 10,000 product items which cater to over 2,000 active customers. Its main markets are in Hong Kong and China.
OKP Holdings Limited ("the Company") is pleased to announce that Or Kim Peow Contractors (Private) Limited ("OKPC"), a wholly-owned subsidiary of the Company, has increased its issued and paid-up capital from $8,300,000 to $15,500,000 by capitalisation of $7,200,000 from its retained profits.
The net tangible assets and earnings per share of the Company for the financial year ending 31 December 2008 is not expected to be materially affected by the increase in share capital of OKP.
OKP Holdings Limited (OKP) is a leading homegrown 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, airport infrastructure and oil and gas related infrastructure for petrochemical plants and oil storage terminals. Established in 1966 by Founder and Chairman, Mr Or Kim Peow, OKP has two core business segments, Construction and Maintenance. The Group tenders for both public and private civil engineering and infrastructure construction projects. Our works involve the construction of urban and arterial roads, expressways, vehicular bridges, flyovers, airport infrastructure and oil and gas-related infrastructure for petrochemical plants and oil storage terminals as well as the maintenance of roads and road-related facilities and construction-related works.
KSH Holdings Limited (KSH or the Group) announced that the Group, through its wholly-owned subsidiary Kim Eng Seng Realty Pte Ltd (KSHR) has entered into a joint venture agreement (the Agreement) with Multi Wealth (Singapore) Pte Ltd. (Multi Wealth), a wholly-owned subsidiary of Bursa Malaysia-lised company, IOI Properties Berhad and LBH Pte Ltd (LBH) for the development of a prime freehold site at Mergui Road (the site).
The Site, with a land area about 74,355 square feet with a plot ratio of 2.8, was acquired in November 2007 by Mergui Development Pte Ltd (Mergui) at a total consideration of S$120 million. Prior to the joint venture, Mergui was a wholly-owned subsidiary of KSHR, which in turn is a wholly-owned subsidiary of the Group.
Multi Wealth had on May 26, 2008 subscribed for 5,300 ordinary shares at a cash consideration of S$5,300, LBH subscribed for 1,200 shares at a cash consideration of S$1,200 while KSHR subscribed for 3,500 shares (inclusive of one subscriber’s share) at a cash consideration of S$3,500. Under the Agreement, KSHR will now hold a 35 percent equity increase in Mergui while Multi Wealth and LBH will each hold 53 percent and 12 percent of the share capital respectively. The issued and paid up capital of Mergui has increased to S$10,000.
We are a well established construction, property development and property management group with operations in Singapore, Malaysia and the PRC. Our Group’s principal activities are as follows, construction in Singapore and Malaysia; and property development and property management in the PRC. We act as main contractors in construction projects for private and public sector customers in Singapore and for private sector customers in Malaysia. Our construction businesses in Singapore and Malaysia are carried on by our wholly-owned subsidiary, KSHEC, and our wholly-owned Malaysian subsidiary, Techpath, respectively. Our clients typically include property developers, land owners and governmental bodies.
Sinopipe Holdings Limited (Sinopipe) and its subsidiaries (collectively the Group), who are engaged in the design, manufacture, distribution and installation of a variety of plastic pipes and pipe fittings, announced today that it has signed its first Build-Transfer (BT) master agreement with 扬州市公铁水联运物流集聚区管理委员会 and 扬州市维扬区人民政府.
The Yangzhou BT project, spanning approximately 3.88km² of the logistics hub in Weiyang District, Yangzhou City, Jiangsu Province, the People’s Republic of China (the PRC), is estimated to be worth approximately RMB 660 million in total construction and development fees over a planned period of about three years. This project comprises the design and development of piping network worth approximately RMB 175 million, to be fully undertaken by the Group, as well as the design and construction of other infrastructures such as road network in the stipulated area worth approximately RMB 485 million, to be contracted by the Group to experienced third party contractors.
Overall, the Group’s role is that of a BT project developer. In accordance with the requirements of the Yangzhou BT project, the Group will be setting up a wholly-owned BT project company in Yangzhou City, Jiangsu Province, the PRC to undertake the development of the Yangzhou BT project. The new company will be responsible for the phase-by-phase organisation and implementation of construction works, management of capital resources and project finance. Upon the completion of the entire Yangzhou BT project and the receipt of all project payments, the project company will be de-registered.
The entire Yangzhou BT project will be completed over a number of phases. The first phase will be worth approximately RMB 80 million, of which the design and development of piping network will be worth approximately RMB 36 million. Work for this first phase is expected to commence in July 2008 and be completed by the end of 2008. Subsequent phases will be initiated in accordance with the Yangzhou BT project master plan and each phase will involve the signing of individual agreements detailing the project value, scope of work and payment schedule.
The Group will receive 15% of the project value of each phase as down payment upon the signing of the respective individual agreements, with the balance outstanding being paid in stages over a period of three years from the date of the respective individual agreements thereon. Securities in the form of land or other assets will be given as collateral pending the receipt of the balance outstanding.
The BT business model is an enhancement of the Group’s existing business model. With the BT business model, the Group can add infrastructural project management and development capabilities to its current strengths in the design, manufacture and supply of plastic pipes and pipe fittings. The Yangzhou BT project is expected to have an impact on the Group’s financial statements starting from the current financial year until the completion of the project.
Established since 1994, we (Sinopipe Holdings Limited and its subsidiaries) are primarily engaged in the design, manufacture, distribution and installation of a variety of plastic pipes and pipe fittings for use in various types of piping systems and networks in applications such as drainage and sewerage, water supply, telecommunication, power supply, water saving irrigation and gas supply.
China Milk Products Group Limited
(China Milk), one of the largest companies in the People’s Republic of China (PRC) specialising in the production of pedigree bull semen, pedigree dairy cow embryos and raw milk, saw a 27.0 per cent jump in its full-year net profit for the period ended 31 March 2008 to RMB480.6 million. Operating profit for the full year rose 22.4 per cent to hit RMB495.1 million. These were achieved on the back of a 23.5 per cent rise in full-year revenue to RMB546.8 million, spurred by the shortage of raw milk in China. Of the 5,350,225 straws of pedigree bull semen, 32,700 pedigree dairy cow embryos, and 41,300 tonnes of raw milk produced by the Group for the year ended 31 March 2008, 5,415,000 straws of pedigree bull semen, 25,250 pedigree dairy cow embryos, and 41,297 tonnes of raw milk were sold, while the balance was for internal consumption.
On a segmental basis, the sale of pedigree bull semen remained the Group’s most significant core business, representing 69.3 per cent of total revenue in FY2008. The sale of bull semen grew 9.6 per cent to RMB379.1 million. The sale of pedigree dairy cow embryos registered the highest growth, escalating 74.1 per cent to RMB63.1 million, accounting for 11.6 per cent of total revenue, whilst the sale of raw milk, which contributed 19.1 per cent to the Group’s total revenue, grew by 72 per cent to RMB104.6 million due to increased production as well as higher prices of raw milk. The overall improvement across all three product segments can be attributed to the Group’s expanded herd size and improved productivity. As at 31 March 2008, driven by the Group’s internal breeding programme and the import of 2,157 Australian Holsteins in January 2008, China Milk’s total herd size of pedigree bull sires, young sires and dairy cows grew 24.3 per cent to 18,390, from 14,789 as at 31 March 2007.
In FY2008, China Milk’s basic earnings per ordinary share improved 27.5 per cent to 65 RMB cents, based on 738,600,000 ordinary shares. Net asset value per ordinary share rose to RMB2.46, from RMB1.83 as at 31 March 2007. Spurred by rising milk prices, the dairy industry in China is expected to continue with its vigorous growth. This phenomenon is largely sparked by the rapid economic growth in China, which in turn led to an increasing consumer demand for healthier and nutritious foods and beverages in China.
SBased in Heilongjiang Province, China Milk’s primary operating subsidiary, Daqing Yinluo Dairy Co., Ltd is a National Leading Enterprise and has nine dairy farms, with a combined land area of approximately 1.83 million square metres. It is one of the largest companies in the PRC that specialises in the production and sale of pedigree bull semen, pedigree dairy cow embryos and raw milk.
Mainboard-listed Yoma Strategic Holdings Limited (Yoma, the Company) wishes to give an update on its latest Cyclone Nargis relief efforts in Myanmar (Yoma Relief Effort).
The overall Relief Effort encompasses several operational thrusts given the scale of the disaster. Just to recapitulate, Yoma, together with SPA Myanmar and First Myanmar Investment Company and several other enterprises, has voluntarily taken on the responsibility for the immediate and ongoing relief efforts for three areas of the Delta where Cyclone Nargis first hit. They are:
- Hainggyi Island off Cape Negrais on the Bay of Bengal;
- Ngapudaw Township, an island in the Pathein River north of Middle
- Hlaing Bone Township to the east of Middle Island between Laputa and Bogalay.
These are the hardest hit areas of the Irrawaddy Division’s Delta Region, a low-lying area estimated to be 700 square kilometres. from Ngapudaw down to Hainggyi Island, and a further 300 square kilometres. Surrounding Hlaing Bone. The whole 1,000 sq. km. area, accessible only by shallow-draft river boats or by helicopter, has an estimated population of 250,000 persons. The entire Relief Effort is coordinated through a Relief Command Centre in Yangon and to date, approximately S$1.2 million in donations has been pledged by individuals and organisations directly and indirectly to the Command Centre to aid in the effort.
The Irrawaddy Flotilla Company has kindly donated the Pandaw II Cruise Ship to be used as a hospital ship for the rescue effort. The ship was refitted and is supported by Save the Children, Mercy Malaysia and a team from Pun Hlaing International Hospital. The ship, which is currently moored quayside in Napudaw, will be acting as the main medical base for the operations in the area.
A further six pre-fabricated barrack-type buildings have also been put up in the towns of Thingangone, Magyibin, Kyone Bu, Pyinkayine, Hainggyi Island and Hlaing Bon to serve as outposts for the effective provision of medical facilities for the needy.
The Relief Effort also has currently five centres each more than sheltering 1,500 displaced persons and distributing water and food to the afflicted. In addition, as part of the distribution of food aid for example, we have been supported by international NGOs such as Save the Children, United Nations World Food Program, and the Red Cross Humanitarian Network as we provide effective and rapid logistical services for the distribution efforts on the ground. This includes physically taking charge of the actual storage and distribution of food aid to the people in the flooded areas, arranging barges and small boats to run up and down the rivers and canals in the delta and directly distributing the relief goods into the hands of the needy. Singapore Red Cross for example, through the Myanmar Red Cross, has pledged S$500,000 and we are helping them procure and distribute the necessary supplies.
On 8 May 2008, the Board of Yoma announced the set up a Relief Fund with an initial S$100,000, which is administered by Mr Kyi Aye, a director of the Company. To date, the total Relief Fund size is approximately S$120,000, including the pledge by Directors of the Company of 10 per cent of their Directors’
Fees for Financial Year ended 31 March 2008.
If any shareholder or member of the public wishes to join the Company in these efforts or contribute in any way to help alleviate the suffering of the Myanmar people caused by this natural disaster, please visit the Save The Children site at: https://www.savethechildren.org.uk/secure/5476.htm
In the meantime, if you have enquiries, please feel free to contact
Mr Lee Kam Seng at email: firstname.lastname@example.org or DID : 65 62232262
Mr Roger Poh at email: email@example.com or DID: 65 63233178
Yoma Strategic Holdings Limited (YSH or the Group) is a leading business corporation with current interests and activities in Myanmar and beyond. Registered in Singapore, YSH's principal activities involve the development of land, sale of private residential properties, construction, as well as design and project management for real estate developments in Myanmar and the PRC.
“…The U.S. represents the next major market opportunity for Biosensors. With a large collection of clinical data and continued advances in our technology, we aim to finalize our U.S. clinical trial plan this year and develop the foundation for U.S. commercialization. We will also strengthen Biosensors through our continued commitment to technology, particularly our intellectual property portfolio and various early-stage research projects, such as the Bio-Freedom polymer-free drug-eluting stent.”
Biosensors International Group Ltd