FSL Trust Management Pte. Ltd. (FSLTM), Trustee-Manager of First Ship Lease Trust (FSL Trust), announced that it has completed the acquisition of the second Yang Ming vessel, YM Elixir, from a wholly owned subsidiary of Taiwan-based and -listed Yang Ming Marine Transport Corporation (YML).
YM Elixir has concurrently been leased back to YML for a lease term of 12 years with a purchase option for YML at the end of the lease term. As previously announced on 12 May 2008, FSL Trust had entered into a conditional agreement to acquire three container vessels from YML for a total consideration of US$210 million. YM Elixir is the second of the three vessels. Acquisition of the first vessel, YM Eminence was completed on 20 May 2008. The third and last vessel, currently under construction, is expected to be delivered in end October 2008, subject to documentation, closing and financing.
The acquisition of YM Elixir is fully funded by FSL Trust's second US$200 million revolving credit line. FSL Trust has hedged the interest rate risk with an interest rate swap to fix the interest rate exposure until the maturity of the facility. YM Elixir, a 4,250 TEU containership, will trade in YML's Intra-Asia and Asia-Europe liner services.
The acquisition of the first two vessels, YM Eminence and YM Elixir, is expected to be
significantly accretive to FSL Trust's distribution per unit (DPU), raising projected DPU for Q3 FY2008 to US3.05 cents. Guidance on the DPU accretion for the third vessel will be announced once financing has been secured.
First Ship Lease Trust is a provider of leasing services on a bareboat charter basis to the international shipping industry. Upon successful closing of the third Yang Ming vessel by end October 2008, FSL Trust will have a diverse portfolio of 23 modern and high quality vessels, consisting of seven containerships, nine product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers. These vessels have an average age of approximately 3.2 years^, and an average remaining lease period of approximately 9.2 years^ (excluding extension periods and early buy-out options).
C2O Holdings Limited (the Company) announced that Stamford Corporate Services Pte Ltd has been appointed as the Company’s continuing sponsor and the Company will be transitioning to the Catalist sponsor-supervised regime (the Transition).
In connection with the Transition, the Company has today submitted a listing undertaking to the SGX as required under the Catalist rules.
The effective date of the Transition (the Effective Date), which will be no less than 1 month from the date of this announcement, will be announced via SGXNet in due course.
From the Effective Date onwards, the Company will comply with the Catalist rules on an on-going basis.
The core business of C2O is engaged in the distribution of Printers & Imaging Products, Digital Entertainment Products, Telecommunication Products and Mobile Phones Accessories. C2O is an established distributor with 18 years track record. It has won several awards since 2000 in recognition of its sales and services.
DMX Technologies Group Limited (DMX or the Group), a leading information technology enabler and digital media provider, announced today a strategic global partnership with Stratus Technologies (Stratus), a leading global business continuity service solutions provider, which will significantly improve the delivery of digital media content to customers.
The non-exclusive alliance combines DMX’s Digital Video solution with Stratus’ Voiceover-
Internet Protocol (VoIP) solution to offer a fully converged IPTV (Internet Protocol
Television) application to better address customer demand in today’s convergent environment. DMX’s Digital Video solution, which is developed and provided by the Group’s 100 per cent- owned subsidiary BEE Mediasoft Limited (BEE), offers a complete range of digital and interactive video solutions and services including an entire IPTV suite. The agreement will also allow BEE’s Vision TV product – a comprehensive and integrated middleware solution for television (TV) operators – to be ported onto Stratus’ highly resilient fault tolerant ftServer system to guarantee uninterrupted and 99.999 per cent reliable delivery of IPTV applications to both DMX and Stratus’ existing and potential customers despite any hardware failure.
DMX Technologies is a leading information technology enabler and provider of a wide range of digital media software and solutions. The Group specialises in providing integrated IT solutions to enable telecom operators, cable TV operators, mobile operators, media corporations and enterprises to deliver enhanced services to their end-users. Its
solutions range from providing service operators and enterprises with network security, network management and optimisation, to providing systems that enable digital media services. The Group owns a suite of proprietary multimedia software, which provides a platform for the delivery of enhanced TV and interactive value-added services over broadband, cable, mobile or other network media. Established in 1999 and listed on the Singapore Stock Exchange, DMX has built an extensive regional network of offices in Asia, including Greater China, Indonesia, Korea, Malaysia and Singapore.
KS Energy Services Limited (KS Energy or the Group) announced that it has secured the first of two (2) six-months extension with effect from 29 June 2008, to its rig management contract with Consafe Offshore AB, a wholly-owned subsidiary of Prosafe SE for the management of the Safe Esbjerg (Accommodation Rig), a 140-bed accommodation jackup rig currently operating in the North Sea for Maersk Olie og Gas AS, Denmark.
Its wholly-owned subsidiary, Atlantic Marine Services Denmark BV (AMS), who has been managing this accommodation rig since June 2005, will now be continuing with its rig management services until the end of 2008 with a possible six months extension thereafter. KS Energy owns AMS through Atlantic Oilfield Services Ltd (AOS). AOS, a wholly-owned subsidiary, which started the rig management to service Maersk, is responsible for all management functions of the Accommodation Rig including provision of qualified personnel, maintenance, spare parts, class requirements and technical services.
The extension of this rig management contract, which will generate revenues of Euro 2.75 million (approximately USD4.25 million), will contribute positively to the financial performance of KS Energy in FY2008.
KS Energy Services Limited (KS Energy) is a leading one-stop energy services provider to the global oil & gas (O&G) and petrochemical industries. The shares of KS Energy are traded on the main board of the Singapore Exchange.
The Singapore Computer Systems (SCS)-Hewlett-Packard Singapore (HP) consortium announced today that it has been awarded the Grid Service Provisioning project by the Infocomm Development Authority (IDA) of Singapore to provide and deliver software, computing power and storage as a pay-per-use, on-demand, on-line service to business enterprises and public sector agencies.
These services will be delivered through the National Grid, which will give companies and consumers affordable, secure, on-demand access to high performance computing, software and data storage services.
SCS and HP have a partnership that has spanned more than 20 years. The latest
project marks another key milestone in this proven partnership – evolving one aspect of the partnership from a supplier-system integrator relationship into a shared service partnership model.
The SCS-HP grid service provider targets to build a network of on-demand applications, services, storage and compute components. Applications built for the SCS-HP consortium will run entirely on demand, eliminating the need for developers or partners to create and manage their own data centre or IT infrastructure. It also provides a viable option to business users who want minimal investments and effort in setting up and maintaining their hardware and software applications but still demand reliable technology in the IT components they choose to use. The SCS Data Centre will power the grid computing resources offered by the SCS-HP consortium, with an initial base of 2,400 processors and 16 terabytes of Storage.
Established in 1980, Singapore Computer Systems (SCS) provides trusted ICT services
to enterprise clients across multiple sectors, including Government, Defence, Education,
Healthcare, Logistics and Financial Services. It offers an extensive range of services including IT infrastructure, applications management services, business solutions, managed services, converged communications and business continuity management services. SCS has operations in Singapore, Brunei, China, Indonesia, Malaysia, the Philippines and Thailand. It has been listed on the Mainboard of The Singapore Exchange since 1991.
DMX Technologies Group Limited (DMX or the Group) announced that its 100 per cent-owned subsidiary, BEE Mediasoft Limited (BEE), has secured a milestone contract with Keppel FELS Limited, a wholly-owned subsidiary of Keppel Offshore & Marine Limited, a global leader in offshore rigs, raised platforms and other offshore support facilities, ship repair and conversion including FPSOs and specialized shipbuilding.
The strategic deal will accelerate the expansion of DMX’s Digital Media Group, the Group’s strongly emerging second core business, into new business sectors – the booming offshore industry of the global oil and gas (O&G) and maritime hospitality. BEE, a leading solution provider for digital and interactive TV services and 100 per cent-owned Singapore subsidiary of DMX, will develop the Offshore Internet Protocol Television (IPTV) Entertainment System which is the world’s first such advanced offshore entertainment system. It will be based on BEE’s highly advanced self-developed IPTV product suite, which comprises:
- Vision TV – comprehensive and integrated middleware solution for TV operators offering enhanced digital video services;
- Vision AMS or Asset Management System – facilities effective control and management of on-demand digital content:
MOSS – next-generation Media Operating Support System that allows convergence of voice, data and video services over cable, Direct-to-Home, IP and mobile networks.
DMX’s pioneering IPTV System will be one of the several best-in-class solutions to be
showcased in the 440-men New Generation Floatel that Keppel FELS is currently building for its customer, Floatel International Ltd.
Floatels are accommodation semi submersibles that cater to the additional workforce required for offshore construction, maintenance services or platform decommission work. Floatels also render construction support with their large deck areas and crane support for the handling of goods and materials. Based on the DSS20NS DP3 design co developed by Keppel’s R&D arm, Deepwater Technology Group and Marine Structure Consultants, the new generation floatel will meet the stringent regulations for worldwide operation including the Norwegian North Sea sector – and the first to be equipped with Dynamic Positioning 3 capabilities ensuring safer operations in deepwater and harsh environments. To suit the floatel’s specific offshore and marine industry requirements, BEE will customize the IPTV System to offer safety-focus and “instant messaging system” with all onboard:
- Safety Movie & Quiz for the oilrig platform
- Helicopter Scheduling
- PA/GA System for emergency alarm
- On-board Messaging System
- “Self-help” Entertainment and miscellaneous features: superior quality television
DMX Technologies is a leading information technology enabler and provider of a wide
range of digital media software and solutions. The Group specialises in providing integrated IT solutions to enable telecom operators, cable TV operators, mobile operators, media corporations and enterprises to deliver enhanced services to their end-users. Its solutions range from providing service operators and enterprises with network security, network management and optimisation, to providing systems that enable digital media services. The Group owns a suite of proprietary multimedia software, which provides a platform for the delivery of enhanced TV and interactive value-added services over broadband, cable, mobile or other network media. Established in 1999 and listed on the Singapore Stock Exchange, DMX has built an extensive regional network of offices in Asia, including Greater China, Indonesia, Korea, Malaysia and Singapore.
Asia Environment Holdings Ltd (Company) announced that the Company has entered into a framework agreement with YTL Corporation Berhad (YTL) on 18 June 2008, (Framework Agreement) , with the intention to explore and discuss further working opportunities together in accordance with matters contemplated under the broad framework stated in the Framework Agreement.
The Framework Agreement covers the following:
(i) The Company will enter into an exclusive technical agreement with an appointed
company of the YTL group of companies (YTL Company) whereby the YTL Company shall provide technical advisory and consultancy services to the Company as regards general consultation on queries with respect to design and specification, equipment procurement, construction and engineering, project and operations management of water and wastewater treatment projects in China.
(ii) The Company and YTL have agreed to grant each other a first right of refusal to collaborate in all future projects in respect of water related projects (including wastewater treatment solutions and the manufacture, fabrication, sale and installation of equipment for water and wastewater treatment systems) secured by both parties in China.
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.
Epure International Ltd (Epure, the Group) is announced that its wholly owned Beijing Sound Environmental Engineering Co., Ltd (Beijing Sound) has secured a RMB360 million deal that sets several milestones for the leading turnkey water and wastewater treatment solutions provider in China.
The latest RMB360 million contract marks not only Epure’s first design-build-operate (DBO) municipal project, but also the first integrated DBO model to be applied to China’s water treatment sector. With this contract, Epure’s orderbook has now passed the RMB1 billion mark to reach a record RMB1.16 billion.
The RMB360 million contract consists of nine wastewater treatment plants. The plants have a total treatment capacity of approximately 150,000 tonnes per day, including wastewater treatment and construction of the necessary support systems in Shangluo and Ankang cities. The central and local governments will be providing financial support for these projects. Construction is expected to commence in the third quarter of 2008 and is expected to be completed in about 30 months.
Epure is one of China’s leading turnkey water & wastewater treatment solutions providers. Backed by extensive R&D and technical expertise, it has successfully completed many award-winning projects. The Group develops proprietary technologies and customises them into effective turnkey solutions for industrial and municipal projects. It has a strong marketing network in China, where it is much sought after for its strong design and engineering project management capabilities. In 2006, Epure diversified into the management of water treatment plants. It is also looking to co-invest in BOT (build-operate-transfer) and TOT (transfer-operate-transfer) projects. The Group plans to expand into other parts of the supply chain, orchestrating the entire eco-protection process.
DMX Technologies Group Limited (DMX or the Group), a leading information technology enabler and digital media provider, announced today that it has secured another landmark contract. This time, DMX will implement an interactive digital TV platform for Tai’An Cable TV (Tai’An CATV) in Shandong Province, People’s Republic of China (PRC). As part of the contract, BEE Mediasoft Limited (BEE), a leading solution provider for digital and interactive TV services and 100 per cent-owned subsidiary of DMX, will supply EdgeSmart and multimedia operation support system (MOSS) for Tai’An CATV, which is in the process of digitising its CATV platform. DMX will also collaborate with third party vendor to jointly supply the set-top-box (STB).
EdgeSmart, BEE’s proprietary software based on open standard, has features like
“smartcard-less” conditional access system and STB resource management system
(STBRMS). “Smartcard-less” conditional access system reduces cost and improves
system reliability by eliminating the use of smartcard and its related modules in STB while STBRMS helps CATV operators save on STB firmware license fees. MOSS is a highly operable and cost-effective system that gives CATV operators a flexible pricing capability to better address the evolving CATV market and thus strengthens the operators’ market position and maximise their ARPU. MOSS also enables operators to offer personalised services to their subscribers. The contract marks the first digitisation project in PRC’s broadcasting industry to employ a complete solution with EdgeSmart and MOSS. DMX will continue to deploy this cost effective, highly operable and manageable solution for other CATV operators. Participation in this project will further reinforce DMX as a market leader in transforming the PRC CATV analog market to digital.
At this initial stage, Tai’An CATV plans to digitise half its subscriber base of 400,000 households spread across the suburbs of Tai’An City. It selected DMX over other vendors for its strong capability in digital software development and experience in CATV digitisation. The contract is not expected to have a material impact on DMX’s net tangible assets or earnings per share for the financial year ending 31 December 2008. Chinese government has mandated that all households CATV in China should be digitized by 2015. With currently more than 150 million CATV subscribers migrating to Digital CATV, the number of subscribers for digital CATV is estimated to grow from 24 million to 125 million by 2012. The growth will be translated to an estimated Pay TV market worth of US$2.4 billion by 2012 according to the latest MPA research estimates. DMX’s technological offering to Tai’An CATV comes under the Group’s Digital Media segment, the second core business for DMX under their recently re-aligned strategy, the other being Infrastructure Enabling.
DMX Technologies is a leading information technology enabler and provider of a wide range of digital media software and solutions. The Group specialises in providing integrated IT solutions to enable telecom operators, cable TV operators, mobile operators, media corporations and enterprises to deliver enhanced services to their endusers.
Its solutions range from providing service operators and enterprises with network security, network management and optimisation, to providing systems that enable digital media services. The Group owns a suite of proprietary multimedia software, which provides a platform for the delivery of enhanced TV and interactive value-added services over broadband, cable, mobile or other network media. Established in 1999 and listed on the Singapore Stock Exchange, DMX has built an extensive regional network of offices in Asia, including Greater China, Indonesia, Korea, Malaysia and Singapore.
BreadTalk Group Limited (BreadTalk), a leading lifestyle food and beverage group,
Aspac F&B International Pte Ltd (Aspac), Star Food Pte. Ltd. (Star Food), a joint venture between BreadTalk and Aspac, and Carl Karcher Enterprises, Inc. (CKE), a subsidiary of CKE Restaurants, Inc. announced
that they have signed a Commitment Agreement to open 100 Carl’s Jr.® restaurants in the People’s Republic of China (“PRC”) by March 2016.
The Commitment Agreement calls for the execution of Master License Agreements which will grant Star Food’s wholly-owned PRC subsidiaries the right to develop restaurants under the Carl’s Jr.® brand in the municipalities of Beijing, Shanghai and Tianjin as well as the provinces of Zhejiang and Jiangsu in the PRC.
Founded as an F&B operator in Singapore in 2000 and listed on the SGX in 2003, BreadTalk has rapidly expanded to become a distinctive household brand owner that has established its mark on the world stage with its bakery, restaurant and food atrium footprints. Its brand portfolio comprises BreadTalk, ToastBox, Food Republic, Din Tai Fung and J Co. With global staff strength in excess of 2,000 employees
across 12 countries, the Group has a network of 199 bakery outlets, with 83 owned outlets in Singapore, PRC, Malaysia, Hong Kong and Thailand, and 116 franchised outlets across Asia and the Middle East. It also owns and operates 5 world-renowned Din Tai Fung restaurants in Singapore, as well as 27 award-winning Megabite / Food Republic food atria in Singapore, PRC, Hong Kong and Malaysia.
Marco Polo Marine Ltd (Marco Polo Marine or the Group), a growing integrated shipping group, is pleased to announce that it had via its wholly-owned subsidiary, Marco Polo Shipping Pte Ltd (MP Shipping), entered into agreements to dispose 6 Singapore-flagged vessels to a third party for an aggregate cash consideration of about S$12.5 million (the Disposal). The cash consideration for the Disposal is derived at on a willing-buyer willing-seller basis, based on market valuation by marine surveyor.
The Disposal, which constitutes an integral part of the ordinary business of the Group, is carried out as part of the fleet renewal policy adopted by the Group. Under the policy, the majority of the vessels owned by the Group are maintained at less than 5 years old.
The Disposal is expected to result in MP Shipping registering an aggregate gain of about S$4.0 million, and the same is expected to contribute positively to the Group’s consolidated profit after tax for the second half of the financial year ending 30 September 2008. MP Shipping enjoys tax exemption under Section 13A of the Singapore Income Tax Act in respect of all its chartering income derived from its Singapore-flagged vessels.
Marco Polo Marine is a growing integrated shipping group principally engaged in the ship chartering and shipyard businesses. The Group’s ship chartering business includes the provision of chartering, re-chartering and transhipment services of tugboats and barges to its customers and end-users from the mining, commodity, trading, shipping, construction, infrastructure, property development and land reclamation industries. The transshipment services it provides involve the transportation of coal mined in Indonesia to coal operators for their onward transportation to energy power plants in the South East Asia regions. The Group’s shipyard is strategically located in Batam, Indonesia, occupying a total land area of approximately 348,705 square metres, with a seafront of approximately 650 metres. Presently, the Group is in the process of expanding its shipyard. When completed, its shipyard is expected to be one of the larger shipyards in Batam.
Megachem Limited (the Company) announced that the Company through its subsidiary, Megachem (Shanghai) Pte
Ltd (MSPL), has increased its investment in the share capital of Megachem International Trading (Shanghai) Co., Ltd (MITS) by US$300,000.00.
Subsequent to the above subscription, MITS remain a wholly owned subsidiary of MSPL.
The above investment was funded through internal resources and is not expected to have any material impact on the earnings per share and the net tangible assets per share of the Company for the most recently completed financial year.
Established in 1988, MegaChem has since emerged as a leading chemical player in Singapore and the region. Listed on the Singapore Stock Exchange in 2003, it is today a global one-stop specialty chemical solutions provider, offering integrated value-added services including manufacturing of proprietary chemicals, contract manufacturing tailored to customers’ needs as well as international distribution of specialty chemicals.
“…The Group has identified the cable industry as the next, near term growing market. During the last few years, the Group has spent considerable effort and resources in designing a unique, cost-effective, total solution for cable operators. In particular, we have developed multi-media software with the aim of transforming these cable operators into world-class operators offering advance interactive TV services. The inroads that we have made with a large provincial operator in Central China, Beijing Gehua, Inner Mongolia and others, where there are in total more than 9 million cable subscribers confirm acceptance of our software and solution. With these large reference customers, we work towards replicating our successes further in the market; as operators strive to meet the timeframe to convert to digital TV broadcasting and providing advanced interactive TV services by 2015.”
Chief Executive Officer
DMX Technologies Group Limited