Sunpower Group Ltd. (Sunpower), announced that its wholly-owned subsidiary, Jiangsu Sunpower Technology Co. Ltd, has tied up an export partnership agreement with China Petrochemical International Co. Ltd, (Sinopec Intl), a wholly-owned subsidiary of China Petroleum & Chemical Co.Ltd, (Sinopec Corp).
The agreement marks a further strengthening of the relationship between the businesses of both Sunpower and Sinopec, as Sunpower positions itself as one of the key suppliers of Sinopec. The Group stands to benefit from the added opportunity of tapping into Sinopec’s vast global network to greater market its products of pressure vessels, energy savings & environmental protection systems and pipe supports.
Sinopec’s expansive network of customers spans across the globe, namely in the United States of America (USA), Canada,
Russia, India, Brazil, Middle East as well as the South-East Asia.
PRC-based Sunpower Group Ltd. specializes in the design, R&D and manufacture of customized energy saving and environmental protection products using heat transfer technologies. Its products range from heat pipes and heat exchangers to pipe supports, waste gas and energy recovery systems, and pressure vessels. They are used in various industries such as petrochemical, steel and transportation, particularly in energy projects that benefit from the products’ energy-saving features. Sunpower has a strong customer base and is a member of both China Petroleum and Chemical Corporation (SINOPEC) materials supply network and China National Petroleum Corporation (CNPC) first-tier network. These memberships pre-qualify the Group to supply products to companies in the SINOPEC and CNPC groups. Till date, the Group has 11 patents registered in China to its proprietary heat technologies.
Boustead Singapore Limited (Boustead) is announced that its wholly-owned subsidiary, Salcon Pte Ltd (Salcon) was awarded a S$175 million-equivalent (152.7 million Libyan Dinahs) EPC turnkey contract to design, construct and upgrade a major water infrastructure system (the Contract) in Libya. The Contract was secured together with a local joint venture partner, a state-owned utilities company. According to the terms of the joint venture, Salcon will hold a 65 per cent interest in the Contract. Commencing in July 2008, the Contract comprises two phases to design, construct and upgrade a water and wastewater infrastructure system in Tarhunah, a 731 hectare township located approximately 80 kilometres south east of Libya’s capital, Tripoli. The Contract is expected to be completed by the first quarter of 2011.
Under Phase I of the Contract, the joint venture will upgrade Tarhunah’s water and wastewater service networks. Phase I is expected to fulfil the water and wastewater requirements of the community until 2015. Phase II consists of the construction of new water and wastewater service networks, pumping stations and additional water treatment plants to meet the future requirements of the community in 2025. The local community will benefit from the Contract through enhanced employment opportunities, skills training and technology transfer offered by Salcon.
The award of the Contract comes shortly after a jointly-organised business mission to
Libya in May 2008 by the Singapore Business Federation and International Enterprise Singapore, which Boustead had participated in.
Established in 1828, Boustead Singapore Limited is a progressive global Infrastructure Related Engineering Services and Geo-Spatial Technology Group listed on the Singapore Exchange. Focusing on the engineering and development of key infrastructure supporting economic growth in the public and private sectors of developing nations, our strong suite of Engineering Services comprises:
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- - Oil & Gas/Petrochemicals;
- - Solid Waste Energy Recovery;
- ?? Water & Wastewater Engineering;
- ?? Real Estate Solutions;
- - Industrial Real Estate Solutions; andv
- - New Township.v
Under our Geo-Spatial Technology arm, we provide professional services and exclusively distribute ESRI geospatial technology – the world’s leading geographic information systems and location intelligence solutions – to major markets across Australia and South East Asia. Our location intelligence solutions are essential to effectively plan, deploy and manage key infrastructure and resources in countries.
KS Energy Services Limited (KS Energy announced that the Company is proposing a two for five rights issue to raise up to
S$174 million. Shareholders can subscribe to two new rights shares for every five existing shares held.
KS Energy will issue up to 109,355,010 rights shares at S$1.60 each, subject to approvals
from the relevant regulatory authorities and the shareholders of the Company.
The net proceeds from the rights issue of up to approximately S$174 million will be used to repay its bank borrowings, fund its capital equipment acquisitions and for working capital requirements.
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 core activities of KS Energy are in the distribution and capital equipment charter and services. For it distribution business, KS Energy ranks as one of the leading distributors of oil and gas equipment, spare parts, consumables and industrial products in the region. Together with
Aqua-Terra Supply Co., Limited (Aqua-Terra or ATS) and SSH Corporation Ltd (SSH), the KS Energy group distributes more than 60,000 oil and gas related products comprising more than 140 international brands of products. Following the acquisition of Atlantic Oilfield Services Ltd (AOS) in May 2007, KS Energy now has the capability to supply, as well as operate capital equipment, including on-shore and off-shore rigs.
Rickmers Trust Management Pte. Ltd., Trustee-Manager of Rickmers Maritime (the Trust) announced that ANL Warrain, a 4,250 TEU vessel in its portfolio of containerships, is now flying the Singapore flag. ANL Warrain, which was reflagged from Marshall Islands to Singapore ship on Saturday, is the third vessel in Rickmers Maritime’s fleet of containerships to operate under Singapore maritime laws. Ital Festosa, a 3,450 TEU vessel and CMA CGM Onyx, a 4,250 TEU vessel, were reflagged in November 2007 and January 2008 respectively.
Delivered to the Trust in October 2007, ANL Warrain operates on an eight-year, fixed rate time charter to leading shipping company CMA CGM. The vessel, which was previously known as CMA CGM Purple is currently plying the Far East – Australia trade route after servicing the Far East – US route. The vessel was renamed to mark the change in deployment.
Rickmers Maritime is a Singapore business trust (Trust) formed to own and operate containerships under long-term, fixed-rate charter contracts to leading container liner shipping companies. Its objectives are to offer first class services to its customers, grow the fleet, provide stable and growing cash flows and maximise value for its Unitholders. Managed by Rickmers Trust Management Pte. Ltd., the Trust aims to provide its Unitholders with regular quarterly cash distributions, while reinvesting a portion of its operating cash flow, to ensure long-term growth and sustainability of the Trust. Rickmers Maritime is sponsored by the Rickmers Group, which is based in Hamburg, Germany. Rickmers Group was founded and is controlled by Mr. Bertram R.C. Rickmers, whose family has more than 170 years of experience in the shipping industry.
Olam International Limited (Olam) and Wilmar International Limited (Wilmar) announced the formation of a 50:50 joint venture company named Olam Wilmar Investment Holdings (OWIH) to acquire a 20 per cent interest in PureCircle Limited (PureCircle), the leading producer of natural zero-calorie, high-intensity sweeteners from the stevia plant, from existing shareholders for an aggregate consideration of US$106.2 million.
In parallel, OWIH and PureCircle have also entered into a memorandum of understanding for the development of a strategic partnership, which will focus on the following areas:
- Determine an optimum plan for the development and efficient management of
commercial scale stevia plantations and outgrower programmes in existing and new locations;
- Assist in the development of efficient commercial scale crude extraction
facilities to support the plantation activities; and
- Assist in developing sales and marketing strategy, to accelerate and strengthen PureCircle’s sales growth including leveraging the respective distribution network of Olam and Wilmar.
Consequently to this transaction and recognising the strategic nature of the
partnership, OWIH becomes the single largest shareholder in PureCircle and will be invited to take a seat on PureCircle’s board of directors.
Olam is a leading global integrated supply chain manager of agricultural products and food ingredients, sourcing 16 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 40 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), MSCI Singapore Free and DAXglobal Agribusiness Index.
Ascendas India Trust (a-iTrust) announced the inauguration today of Vega, a new 402,000 square feet building at The V, Hyderabad. It also marks the full completion of The V, a development of over five phases on the 19-acre site. Valued at S$222 million (INR 654 crores), the Ascendas-managed IT Park comprises 22 per cent of aiTrust’s S$1 billion asset portfolio. The other assets in the portfolio include International Tech Park Bangalore, International Tech Park Chennai and CyberPearl in Hyderabad.
The V’s 1.3 million square feet of quality space now houses over 10,000 skilled IT & ITES professionals on its campus-like premises within the HITEC City IT zone. The V and CyberPearl, also developed and managed by Ascendas, have contributed to the growth of Hyderabad’s IT industry, making it one of India’s leading IT corridors. Like the other buildings in The V, namely Auriga, Mariner, Orion and Capella, Vega is named after constellations and stars that aid in navigation. Vega can accommodate up to 3,000 employees and is already 92 per cent occupied upon completion. Its tenants include existing clients that have taken up more space at the park, such as JDA Software, and new clients such as Usi Internetworking Solution (an AT&T unit), Rhythm & Hues Studios and Avaya.
The inauguration ceremony was graced by Guests-of-Honour, Dr (Smt) J Geeta Reddy,
the Honorable Minister for Major Industries, Sugar, Commerce & Export Promotion, Government of Andhra Pradesh, India, and Mr Gan Kim Yong, Acting Minister (Manpower), Singapore.
Asia’s and Singapore’s first listed Indian property trust, a-iTrust was listed on the main board of the Singapore Exchange Limited on 1 August 2007. It is established with the principal objective of owning income producing real estate used primarily as business space in India, and real estate-related assets in relation to the foregoing. It is a premier business space investment trust backed by strong underlying fundamentals of the Indian economy and its growing information technology and real estate sectors. Managed by Ascendas Property Fund Trustee Pte Ltd and supported by its Sponsor, Ascendas Land International Pte Ltd, a-iTrust seeks to deliver stable distributions and positive returns to unitholders.
DMX Technologies Group Limited (DMX), announced that it has recently secured a Managed Security Services (MSS) contract to provide managed security services for Anji-TNT Automotive Logistics Co. (Anji-TNT). Anji-TNT is a leading specialised third-party logistics provider (3PL) to the automotive market in China.
Established in February 2008, Vantage is a Managed Services brand of DMX, which fits into the Group’s Infrastructure Enabling business and complements DMX’s Infrastructure Solutions by providing a complete suite of services to become a one-stop-shop for DMX’s enterprise customers. Besides specialising in enterprise network system management, the security management services offerings include proactive security devices management, security performance management and monitoring, security policy management. In addition, round-the-clock, all year risk management security services are also offered through the Vantage Security Operation Centres in countries where DMX operates.
The Anji-TNT 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.
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.
Courage Marine Group Limited, a dry bulk shipper focused on infrastructure and energy related commodities, has once again demonstrated just how tightly and effectively it runs its ship by finishing first in Marine Money’s industry-acclaimed annual rankings. Triumphing over 98 other companies, Courage Marine has been named the world’s best shipping company for 2007 by Marine Money International, a highly respected provider of maritime company analysis that tracks the financial performance of the world’s most noteworthy shipping groups.
Courage Marine has surprised many by beating out far larger groups such as Cosco Holdings, STX Pan Ocean and AP Moller Maersk. Runner-up D/S Norden A/S has a fleet of 216 vessels to Courage Marine’s eight. Size is clearly not everything, however, as Courage Marine has proved by coming out tops in the overall performance rankings, which assess candidates based on measures such as total return to shareholders, profit margin, return on assets (ROA) and return on equity (ROE). In the individual categories, the Group placed first in ROA as well, with a figure of 52.6 per cent. For ROE, it clinched the ninth place, with a figure of 64.2 per cent.
Courage Marine also won kudos in the financial strength rankings, nabbing second place. In the individual categories, the Group topped the rankings in terms of credit rating, interest coverage and debt to capitalisation.
Courage Marine owns and operates eight dry bulk carriers that transport coal for Asia’s growing energy needs. Its fleet is deployed around Greater China, Japan, Russia, Vietnam, Indonesia, Bangladesh, and elsewhere in Asia. The vessels transport mainly dry bulk commodities such as coal, cement, cement clinker, iron ore, minerals and wood chips. This fleet of Handysize, Handymax and Panamax vessels allows greater flexibility in plying long and short voyages.
Epure International Ltd (Epure) announced it has completed the acquisition of Beijing Hi-Standard Water Treatment Equipment Co., Ltd (HSWTE) from Shanghai Jingke Investment Management Co., Ltd. Epure will pay approximately RMB208 million for the entire equity interest in HSWTE, which will peg the purchase at a price-earnings ratio of 10.0 times net earnings for the financial year ended 31 December 2007.
The acquisition will be fully funded by the net placement proceeds of approximately RMB318 million raised in July 2007.
HSWTE enjoys a strong leadership position in China’s water treatment industry, catering to both the industrial and municipal sectors with its standardised and customized equipments. Its excellent technical and integration capabilities, cost-efficient solutions and high-quality services are widely recognised. These, together with its ongoing collaborations with blue-chip MNCs, have enabled HSWTE to extend its reach beyond China to countries in South-east Asia, Europe, North America and South Africa. 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.
C20 Holdings Limited announced that ValueRight International Limited (VRIL), a wholly-owned subsidiary of Hadi International Marine Services Pte. Ltd., the Company's associated company, has entered into a charter contract for the charter of a second-hand offshore supply vessel (OSV), which it is in an advanced stage of acquiring, to Hadi Hamad Al-Hammam Establishment (HHAE), which is based in Saudi Arabia. Like the existing OSVs owned and chartered out by VRIL, the OSV to be acquired will also operate in Saudi Arabian waters to support the drilling operations of Saudi Aramco, one of the world's largest producers of oil.
The charter is for a period of one year and will commence after upgrading and maintenance work have been performed upon delivery of the OSV, with an option to extend for further periods on mutually agreeble terms. The charter hire for the OSV will amount to approximately US$2 million for the initial charter period of one year.
The Company will make a further announcement upon the acquisition of the OSV.HHAE will be providing all necessary services to maintain the OSV on behalf of VRIL and the cost of such services will be paid by VRIL.
C20 Holdings is engaged in the distribution of Printers & Imaging Products, Digital Entertainment Products, Personal Communication Products and Mobile Enhancement Products. We are an established distributor with 18 years track record. We are also engaged in providing Outsourcing Services. We are an Original Design Manufacturer (ODM) licensed by world leading brands such as Nokia and Samsung to design, manufacture and distribute mobile phone wearables. We provide logistics outsource services to the mobile phone manufacturers and telecommunications operators. Our outsource services include managing used mobile phones for the telecommunication operators and providing inventory management services to telecommunication operators.
Sihuan Pharmaceutical Holdings Group Ltd (Sihuan) announced that wholly owned Beijing Sihuan Pharmaceutical Co., Ltd (Beijing
Sihuan) has won yet another R&D grant, worth RMB2.6 million, from the Beijing Municipal Science and Technology Commission to conduct clinical research on a CV drug named piperphentonamine hydrochloride (PPTA).
PPTA is classified as a Category 1 drug and is the first of its kind to be developed in the PRC for use in strengthening and protecting the heart. This is Beijing Sihuan’s second research project to receive an R&D grant from the Commission. In 2006 and 2007, it clinched a combined R&D grant of RMB1.5 million from the Commission to carry out pre-clinical research on a coronary heart disease treatment drug called G20.
There is no ceiling on the total amount of grants that can be given out for research projects as these grants are given at the discretion of the relevant authorities. They are also awarded in stages when research milestones are met.
Sihuan is a leading manufacturer of cardiocerebral vascular (CV) drugs in China. Its products are sold via an extensive distribution network 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.
JEL Corporation (Holdings) Ltd. (JELCorp), announced that JEL Corporation (Far East) Pte Ltd, a wholly-owned subsidiary, has been awarded distribution rights for the entire range of Photographic products from Fujifilm Corporation.
Fujifilm, one of the major brands in the photographic business, is a strong addition to JELCorp’s brands portfolio.
With the appointment, JELCorp will now distribute Fujifilm papers, chemicals, film, digital cameras, Minilabs and printers for the Central Asian region, namely, Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan, and Tajikistan.
JEL Corporation is an established distributor of fast-moving consumer goods, consumer electronic, IT, photographic, mobility and timepiece products, with distribution networks spanning many emerging markets in Africa, Asia, the Middle East and the Americas. Headquartered in Singapore, JEL Corporation distributes a wide range of world renowned brands such as Apple, Acer, Targus, Linksys, Nikon, Casio, Samsung, Asrock, Foxconn, Tamron, TAG Heuer, Fendi, Dior, Movado, Armand Nicolet and Corum. The Group also distributes its two in-house brands, efiniti and Ecochem. efiniti, a product line for photographic industry, and Ecochem, a product that offers photo processing chemicals, which are able to complement our existing network and our principals' range of products.
“…As we seek to remain focus on capacity growth to drive earnings growth, we will continue to be sensitive to markets and stay mindful of the challenges ahead. Take for example, the recent heavy snowfall that wreaked havoc in 19 provinces in China. It turned out to be a blessing in disguise for FerroChina. As the snowstorm severed major railway lines, airport, highways and buildings, a slew of reconstruction business opportunities have presented itself to our Group! We have received orders for our galvanised steel coils relating to reconstruction works that are expected to take place in the second quarter of FY2008. To meet this sudden surge of orders in China, we are allocating 5% of our exports sales to domestic market. In addition, we will also progressively ramp up our production for thick galvanised steel coils which are used in the construction industry, to meet the spike in demand. As you can see, our approach to operating in a tough business environment is a pragmatic one. However, by accepting the challenges that come along with our expansion, we are confident that we have the systems and more importantly, the management team to deal with each issue as it arises.”
Chairman and Chief Executive Officer