Parkway Trust Management Limited, as manager of Parkway Life Real Estate Investment Trust (Parkway Life REIT) announced the establishment by HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Parkway Life REIT) of the following wholly-owned subsidiary incorporated in Singapore:
Name: Parkway Life MTN Pte. Ltd.
Principal Activity : Provision of treasury services, including, from time to time, on lending the proceeds from issuances of notes under an unsecured multicurrency medium term note programme to HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Parkway Life REIT) Share Capital : S$1 comprising 1 ordinary share
None of the directors of Parkway Trust Management Limited or the controlling unitholders of Parkway Life REIT has any interest, direct or indirect, in the subsidiary or its formation.
Parkway Life REIT is Asia's largest healthcare REIT. Listed on the Singapore Exchange in August 2007, Parkway Life REIT invests in income producing real estate or real estate related assets in the Asia Pacific region (including Singapore) that are used primarily for healthcare and/or healthcare-related purposes.
MacCoffee, Food Empire’s flagship brand was voted the most productive brand, making the most valuable contribution of 52 per cent to the enterprise value of the Group according to Brand Finance, an international valuation agency based in UK.
A valuation study conducted by Brand Finance lent good insights into how Singapore’s intangible assets are performing on a global level. It validates the importance of intangibles and demonstrates the significant growth in global intangible value even in countries which have been dominated by the commoditised sectors. Intangible assets comprise of patents, technology, contracts, copyright, customer relationships, design rights, human capital including brands and brand portfolios. The study highlights local companies which have well-leveraged on their intangible assets and brands to drive greater value for their enterprises.
In the report which was published by Brand Finance on 7th August 2008, MacCoffee was recognized as the most hardworking brand with a brand value of S$170 million that makes the most valuable contribution to its enterprise value, S$326 million. Representing 52 per cent of the total enterprise value, the brand owes in part its entry to a relatively low enterprise value compared to its revenues.
SGX Mainboard-listed Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. Food Empire Holdings’ products are exported to over 50 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina and the US. The Group has 12 overseas offices in Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam. The Group’s core products include a wide variety of regular and flavoured coffee mixes and cappuccinos, instant chocolate, instant breakfast cereal and flavoured fruit teas. Food Empire also markets a refreshing range of confectionery, snack food such as dried calamari and potato crisps and a delectable assortment of frozen convenience food that includes Asian delicacies.
WBL Corporation Limited (the Company) announced that it has issued S$74,000,000 3.88 Per Cent. Fixed Rate Notes Due 2010 (the Notes). The Notes are issued under the S$200,000,000 Multicurrency Medium Term Note Programme (the Programme) established by the Company on 16 June 2003.
DBS Bank Ltd. has been appointed as the Sole Lead Manager and Bookrunner of the Notes. The Notes will mature on 18 August 2010 and will bear interest at the rate of 3.88 per cent. per annum payable semi-annually in arrear.
The Company will use the net proceeds arising from the issue of the Notes under the Programme (after deducting issue expenses) for the purpose of financing the working capital requirements of the Company and its subsidiaries.
Wearnes (WBL Corporation Limited) is a dynamic international group with key activities in technology, automotive distribution and investments which include property and trading. Wearnes is ranked among the top 100 companies by market capitalisation on the Singapore stock exchange and has revenues of $2 billion with operations in many countries, including Singapore, Malaysia, Thailand, China, the United Kingdom and the United States. The Group is one of the world’s leading producers of Flexible Printed Circuits, found in some of the most widely used consumer products such as mobile phones and medical instruments. It owns 54.8 per cent of NASDAQ-listed M-Flex, one of the few global companies that can provide seamless, integrated, end-to-end solutions for quick-turn prototypes through high volume production. In automotive distribution, Wearnes’ dealership includes eight world-renowned brands – Volvo, Jaguar, Renault, Bentley, Mazda, Volkswagen, Chevrolet and Bugatti. In Singapore and Hongkong, it is Volvo’s sole distributor.
Jurong Technologies Industrial Corpn. Ltd (the Company or the Group) announced a joint venture with a European partner to design, develop and manufacture the highest lighting density output in the Market for a wide range of energy-saving compact fluorescent (CFL) light bulbs for the European and American markets. The joint venture, carried out through its joint venture vehicle IsunU Pte. Ltd. (IsunU), aims to capitalise on initiatives by Europe and America to switch to energy-efficient lighting so as to reduce carbon dioxide emissions that are believed to contribute to global warming.
The partnership will leverage on Jurong Technologies’ core competencies in electronics manufacturing services (EMS) and IsunU’s research and development capabilities in energy efficient lighting solutions. Led by the strategic European partner with over 20 years of research and development experience, IsunU is poised to establish itself as a leading innovator in lighting solutions backed by its growing patent portfolio. The Group plans to invest up to US$50 million over the next 12 months in its new 500,000 square feet. Nusajaya, Johor, Malaysia facility, with a target to produce up to 50 million light bulbs per month once the plant is completed. The Group has already secured orders for its new CFL products and plans to commence mass production from October 2008.
Demand for CFL energy-saving bulbs is growing rapidly globally and is expected to accelerate in the Western Countries through the efforts of the European Lamp Companies Federation, which has set an ambitious target to phase out conventional incandescent lamps in Europe and replace them with energy-saving CFL bulbs by 2015.
Established in 1986, Jurong Technologies began providing Electronics Manufacturing Services (EMS) to local as well as overseas electronics Original Equipment Manufacturers (OEMs) in 1988, and has today become a name synonymous with top quality and innovative solutions. Headquartered in Singapore, Jurong Technologies has staff spread across its production facilities in Singapore, Malaysia, China (Suzhou and Tianjin), Indonesia (Batam) and Brazil (Jaguariuna), as well as sales and marketing support offices in Singapore and the United States. We are listed on the Main Board of the Singapore Exchange. A full-fledged yet dynamic manufacturing enterprise, Jurong Technologies is today a leading regional provider of EMS solutions.
Sino-Environment Technology Group Limited (the Company) announced that the Company increased its investment in the registered capital of its wholly-owned subsidiary, Thumb Env-Tech Group (Fujian) Co., Ltd. from RMB130,000,000 to RMB180,560,381.
The Company also increased its investment in the registered capital of its wholly-owned subsidiary, Fujian Thumb Environmental Facilities Co., Ltd. from US$19,420,415 to US$26,827,330. The Company’s wholly owned subsidiary, Sino-Environment Clean Power Technology Pte. Ltd. (Clean Power) registered a wholly-owned subsidiary, Chuang-Dong Energy & Env-Tech (Fujian) Co., Ltd. (Chuang-Dong) in the People’s Republic of China.
The registered capital of Chuang-Dong is RMB20,000,000 and was contributed by Clean Power entirely in cash. The principal business of Chuang-Dong involves the research and development, design and manufacture, and advisory services in relation to environmental related devices.
Sino-Environment Technology Group Limited ("Sino-Env" or the ''Company") and its subsidiaries (the "Group") is an environmental protection and waste recovery solutions specialist in the PeopleÕs Republic of China ("PRC").
The Group's business is split into the following main segments:
- Industrial waste gas treatment, management and recovery of volatile organic compounds ("VOC"), in particular toluene
- Dust elimination
- Industrial waste gas treatment and management of sulphur dioxide (SO2) and oxidised forms of nitrogen (NOx) for independent power plants, in particular coal-fired power plants (desulphurisation and de- nitrogenation)
- Industrial waste water treatment and management
Singapore Exchange Mainboard-listed industrial fishing company China Fishery Group Limited (China Fishery or the Group) announced its latest vessel acquisition in Peru, which will add 204 cubic metres of fish hold capacity to its purse seine fishing fleet of 38 vessels with total fish hold capacity of 10,149 cubic metres.
China Fishery is paying US$4.3 million to acquire Peruvian company Pesquera Islaya S.A.C. (the Acquisition), a transaction which will give the Group an additional purse seine fishing vessel with a fish hold capacity of approximately 204 cubic metres. This latest addition follows close on the heel of the Group’s previous acquisition of three purse seine vessels in July. The Group plans to finance the Acquisition through internal resources.
Since establishing the Group’s operations in Peru in May 2006 and in anticipation of the change in fishing systems, China Fishery has consolidated over ten small-scale local fishing companies in order to boost the Group’s total fishing capacity in Peru. Currently, China Fishery stands as one of Peru’s largest fishing and fishmeal processing operators.
Listed on the Singapore Exchange Mainboard on 25 January 2006, China Fishery Group Limited (“China Fishery”) is a global, integrated industrial fishing company with governmental rights to fish in some of the world's most important fishing grounds. Employing state-of-the-art supertrawlers, China Fishery harvests, onboard processes and delivers high quality catch to consumers the world over. In 2006, China Fishery also established fishmeal processing operations in Peru, where it has fishmeal processing plants and purse seine fishing vessels deployed strategically along Peru's coastal areas. Riding on an ever-growing global demand for fish, China Fishery is committed to continually securing access to this limited and valuable marine resource, and fulfilling consumer needs through sustainable fishing practices. For FY2007, the Group achieved an 84.5% year-on-year rise in net profit to US$88.5 million on the back of US$406.4 million turnover.
Natural Cool Holdings Limited (Natural Cool or the Group) announced that its wholly-owned subsidiary S-Team Switchgear
Private Limited (S-Team), has been awarded a S$7 million contract for the supply and delivery of low voltage switchboards to the proposed Resorts World at Sentosa, a 49-hectare integrated resort on Sentosa scheduled to open in early 2010.
This contract is not expected to have a material impact on the Group’s financial performance for the current financial year ending December 31, 2008 as deliveries under the contract awarded is expected to formally commence within the first quarter of 2009. In this connection, the contract will have a material impact on the Group’s performance for the financial year ending December 31, 2009.
The Group also announced that its wholly-owned subsidiary Natural Cool Investments Pte. Ltd. (NCI), has entered into a sale and purchase agreement for the acquisition of 510,714 ordinary shares, representing 51 per cent of the issued share capital in Lifa Engineering Pte Ltd (LEP), for a total consideration of S$500,000. The proposed acquisition will be funded through funds generated from its internal resources.
Established in 1989 and listed on Catalist (formerly known as SESDAQ) in May 2006, Natural Cool provides installation, maintenance, repair and replacement services for air-conditioning systems to the residential segment, both public and private; and commercial sectors, which include factories, offices, condominiums, schools and hospitals, in Singapore. In addition, the Group sells air-conditioning components and tools used for the installation and servicing of air-conditioning business. The Group also manufactures and sells switchgears through mechanical and electrical (M&E) contractors to public and private property developments. Started in 2003, the Group’s switchgear division, S-Team Switchgear Private Limited, designs and manufactures switchgear products customised to meet specific requirements of its customers.
Tung Lok Restaurants (2000) Ltd (the Company) announced that its wholly-owned subsidiary, TLG Asia Pte. Ltd. (TLG Asia), has invited Shin Yeh Co. Ltd (a company incorporated in Taiwan) as a new shareholder of Shin Yeh Restaurant Pte. Ltd. (a company which was originally incorporated as wholly owned subsidiary of TLG Asia).
Shin Yeh Restaurant Pte. Ltd. has increased its issued share capital from S$1 to S$800,000 (with 1 share valued at S$1). TLG Asia holds 55 per cent shareholdings whereas Shin Yeh Co. Ltd holds the remaining 45 per cent. TLG finances the share capital through internal resources and bank borrowings. A joint venture agreement will be entered into by both parties.
The transaction is not expected to have any material impact on the net earnings per share or net tangible assets per share of the Company for the year ending 31 March 2009.
BreadTalk Group Limited (the Company) announced that a new subsidiary, Shanghai Star Food F&B Management Co., Ltd. (Shanghai Star Food), has been incorporated by Star Food Pte Ltd, a 60 per cent owned subsidiary of the Company.
Shanghai Star Food, incorporated in the PRC, will be engaged mainly in the management of the Carl’s Jr. Restaurant business in the municipality of Shanghai and the provinces of Jiangsu and Zhejiang in the PRC pursuant to the franchise arrangement with Carl Karcher Enterprises, Inc. as announced by the Company on 19 June 2008.
Shanghai Star Food has a registered capital of US$750,000 and the investment will be funded internally. As at the date of this announcement, the registered capital has not been paid up. The incorporation of the new subsidiary is not expected to have any material impact on the earnings per share or the net tangible assets of the Group for financial year ending 31 December 2008.
Founded in 2000, BreadTalk has become a distinctive Singapore brand that has gained international appeal. Renowned for the way it has revolutionised the culture of bread consumption with its visually appealing, aromatic and unique-tasting products, the Group owns and operates more than 20 bakery outlets in Singapore, as well as several outlets in various countries regionally, including Shanghai and Beijing. In 2003, the Group diversified into the restaurant business by opening the world-renowned Din Tai Fung brand of restaurants, known for its xiao long bao meat dumplings, in Singapore. In 2005, BreadTalk penentrates further into the China market by acquiring Topwin Investment Holding Pte Ltd, which owns and operates 13 food courts under the award-winning brand-name "Megabite" in the PRC.
Darco Water Technologies Limited (the Company or Darco or the Group) announce that its subsidiary in Taiwan has recently secured a S$8.4 million soil remediation project slated for delivery in FY2008 and FY2009.
The Group credited its contract win to its prior experience in providing highly complex soil treatment solutions, where it successfully treated a pesticide contaminated soil site for RSEA Engineering Corp two years ago.
This current project, awarded by BES Engineering Corporation Taiwan Ltd., is tasked to treat a mercury-contaminated site in Miaoli County, Taiwan.
Listed on SGX 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) announced that its subsidiary, Swiber Offshore Construction Pte Ltd, has inked a Memorandum of Understanding (MOU) with a leading Saudi Arabian firm, Rawabi Holding Company Limited (Rawabi Holding) to develop business in offshore EPCIC projects and marine activities in Gulf Cooperation Countries (GCC). The GCC includes countries such as Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates and Oman.
Rawabi Holding has been operating in Saudi Arabia and the Middle East for over thirty years as one of the leading industrial players in the region. The company has activities in the construction and engineering, oil and gas, petrochemicals, utilities, power and electrical, telecommunications and IT, freight forwarding, marine, trading and manufacturing industries.
The MOU, which is for the period of 12 months, was made possible by International Enterprise (IE) Singapore, the agency under the Ministry of trade and Industry tasked to promote internationalization of Singapore-based companies and trade. As part of the MOU, the two parties have agreed to evaluate the merit of each business opportunity and determine the best form of association and leadership arrangement for each potential project within the GCC.
Established in 1996, Swiber is today an integrated offshore Engineering, Procurement, Construction, Installation and Commission ("EPCIC") contractor with supporting in-house offshore marine capabilities.
• Offshore EPCIC Services : Leveraging on our strong engineering capabilities, we provide a full suite of EPCIC services which can be customized according to project requirements.
• Offshore Marine Support Services : We charter support vessels, including logistics support, to customers both on a time charter and bareboat charter basis. As at 17 September 2006, we have a fleet of nine operating vessels, comprising five tug boats and four barges.
By integrating our complementary services, we are able to provide customers with one-stop solutions for all the relevant stages of their offshore oil and gas projects. Led by a team of professional and market-oriented management, Swiber has grown its business due to its quick response to market trends and opportunities. In 2002, Swiber strategically shifted its focus away from pure-play vessel chartering towards offshore EPCIC services. The tactical move augured well for Swiber as offshore EPCIC services, together with the offshore marine support services supporting the EPCIC services, now account for the Group's main revenue and earnings drivers.
China Hongxing Sports Limited (China Hongxing or the Group) has enjoyed a good month in August, with a strong showing at the 2009 Spring Collection Trade Fair held in Xiamen City, Fujian Province and striking “Gold” from its sponsorships of the PRC Women’s 48 kg weightlifting team and North Korean Olympic team.
China Hongxing drew strong interest at the 2009 Spring Collection trade fair held this month, which attracted a record number of more than 2,600 participants comprising its exclusive third-party distributors and third-party retailers. From approximately 120 new footwear models and more than 360 apparel and accessories designs showcased, China Hongxing garnered an order book worth approximately RMB 1.2 billion, representing a year-on-year increase of approximately 46.3 per cent from the trade fair held in September 2007.
Orders for its apparel and accessories products, one of the main growth drivers for the Group, accounted for approximately 47.2 per cent with footwear accounting for the rest. Among several new designs launched, the Group also introduced the Second Series of its extremely popular Ice Cool technology footwear and apparel products for the 2009 Spring Collection. The First Series saw overwhelming sales during the 2008 Spring and Summer Collection and the Group is confident that the new and improved Second Series will receive a similar positive response from consumers.
China Hongxing is the first sporting goods company from the PRC to be listed in Singapore. Established in 2000 and based in Quanzhou City, Fujian Province, the Group is primarily engaged in the design, manufacture and sale of an extensive range of sports footwear, as well as the sale of a wide range of sports apparel and sports accessories, all sold under its “Erke” brand via an extensive sales and distribution network across the PRC. The Group’s “Erke” brand has been named by leading global brand valuation institute World Brand Laboratory as one of China's 500 Most Valuable Brands in 2008 for the third consecutive year, ranking in the top 140 with an estimated brand value of RMB 5.3 billion. China Hongxing is actively involved in advertising and promotion activities to maintain its market leadership position and brand visibility in the PRC. The Group engages in advertising in key media channels such as magazines, billboards and newspapers, broadcast and the Internet and has sponsored teams and prominent sporting events such as the Women’s Tennis Association tour, the North Korean Olympic and national soccer teams, as well as televised NBA and European soccer matches. The Group focuses its sponsorship activities on sports teams and events that are popular with its target market in the PRC.
Jurong Technologies Industrial Corpn. Ltd (the Company) announced that the Company has injected an additional investment of S$4,999,000/- into the paid up capital of its wholly-owned subsidiary, Microfab Holdings Pte. Ltd. (MH) thereby increasing the paid up capital of MH from S$1000.00 to S$5,000,000.00.
Following the aforesaid subscription, MH remains a wholly owned subsidiary of the Company.
The above transaction was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year.
Established in 1986, Jurong Technologies began providing Electronics Manufacturing Services ("EMS") to local as well as overseas electronics Original Equipment Manufacturers ("OEMs") in 1988, and has today become a name synonymous with top quality and innovative solutions. Headquartered in Singapore, Jurong Technologies has staff spread across its production facilities in Singapore, Malaysia, China (Suzhou and Tianjin), Indonesia (Batam) and Brazil (Jaguariuna), as well as sales and marketing support offices in Singapore and the United States. We are listed on the Main Board of the Singapore Exchange. A full-fledged yet dynamic manufacturing enterprise, Jurong Technologies is today a leading regional provider of EMS solutions.
Chemoil Energy Limited (the Company, and together with its subsidiaries, the Group) announced that the Group has acquired 1,000,000 issued and outstanding shares of the stock of LMG Land Development Corp (LMG Land) in the Philippines, representing an effective interest of 64 per cent of the issued share capital of LMG Land.
The consideration of PHP 492,840,000 or approximately US$11.17 million was arrived at on a willing-buyer and willing seller basis and will be funded by a combination of internal resources and bank borrowings.
Based on LMG Land’s audited financial statements as at 31 December 2007, the net asset value and net tangible asset value attributable to the Group’s 64 per cent interest amounted to PHP 116,757,493 or approximately US$2.65 million.
As one of the marine fuel industry’s leading physical suppliers, Chemoil delivers energy through controlling all key stages of the marine fuel supply chain, providing exceptional value to its customers and maximising profitability by converting expenses to assets - acquiring, developing and controlling physical infrastructure within the supply chain. It has integrated operations in Los Angeles, New York, Houston, Singapore, Panama, United Arab Emirates and the ARA region (Antwerp, Rotterdam and Amsterdam). Established in 1981, Chemoil continually challenges industry practices and provides leadership through its progressive and innovative approach to delivering energy. With the largest share of the marine fuels market in Los Angeles and New York, Chemoil is committed to finding innovative means to delivering energy, and has been at the forefront of supplying cleaner fuels to meet customer demands in light of changing legislation to protect the environment. Chemoil was listed on the Main Board of Singapore Exchange Securities Trading Limited (SGX-ST) on December 14, 2006. In 2007 the company delivered over 14.6 million tons of fuel.
Food Empire Holdings announced that its annual report “Warriors of the Empire” won a Gold in the category for Non-Traditional Annual Report: Food & Consumer Packaged Goods in the 22nd Annual ARC Awards which honours excellence in annual reports.
Being a gold winner of the International ARC award in its category “Warriors of the Empire”, is now a contender for the Grand Award for Non-Traditional Annual Reports. The Grand Award Winners will be announced and honoured on September 18, 2008 at the JUMEIRAH ESSEX HOUSE in New York City.
US-based MerComm Inc establishes the ARC awards since 1987 and is the world’s largest annual report competition that honors outstanding annual reports.
The ARC Awards Competition is unique in that each annual report is judged against itself, based on its success in communicating its company’s story. Judging is based on the values of creativity, clarity, effectiveness and excellence as symbolized by the ARC Awards. Some elements taken into consideration for judging of the annual reports include: cover design, president’s letter, interior design, clarity of written text, photography, presentation of corporate information, expression of financial data and how well the spirit of the organization is committed.
SGX mainboard-listed Food Empire Holdings is a leading food and beverage company that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. Food Empire Holdings’ products are exported to over 50 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina and the US. The Group has offices established worldwide including Russia, Eastern Europe and Central Asia. The Group’s core products include a wide variety of regular and flavoured coffee mixes and cappuccinos, instant chocolate, instant breakfast cereal and flavoured fruit teas. Food Empire also markets a refreshing range of confectionery, snack food such as dried calamari and potato crisps and a delectable assortment of frozen convenience food that includes Asian delicacies.
“…As we increase our manufacturing of high performance and quality sports footwear, we will further intensify our marketing efforts and sharpen our branding focus via the sponsorship of promising sporting events and teams.”
Mr Wu Rongguang
Chairman and Executive Director
China Hongxing Sports Limited