Sinopipe Holdings Limited (the Company) announced that the Company had on 25 August 2008 entered into a sale and purchase agreement (the Agreement) with Mr. Cheong Hock Alias Cheong Kim Hock (the Vendor) to purchase 20,000 shares representing 100 per cent of the issued and paid up share capital (the Sale Shares) of Rowille Investment Company Limited (Rowille) from the Vendor at a consideration price of RMB 183.6 million (the Proposed Acquisition).
With the Proposed Acquisition, the Company seeks to create an additional income stream to diversify the income of the Company and its subsidiaries (the Group) and hence reduce the reliance on the Group’s current income stream which is from the manufacturing and distribution of plastic pipes and pipe fittings.
The Proposed Acquisition allows the Company to gain direct exposure to the PRC’s rapidly growing retail market, the prospects of which are expected to remain favourable and at the same time, owns a real estate property in Beijing, the capital city of the PRC.
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.
DMX Technologies Group Limited (DMX or the Group) announced that it has been awarded a RMB63million contract from Hubei Chutian Broadcasting Network Co. Ltd (Hubei Chutian), Hubei province’s cable TV operator, in the first phase of the province’s cable TV (CATV) digitisation programme.
Hubei Chutian, which has an estimated 3.5 million subscribers in the province, has aggressive plans to digitise their customer base ahead of the 2015 mandate set by the government in the People’s Republic of China (the PRC). Under this initial contract, DMX’s Digital Media segment will provide solutions for a cost effective and scalable digital TV services rollout to less than 10 per cent of the entire customer base of Hubei Chutian before the end of 2009.
By leveraging on the Group’s EdgeSmart STB Resources Management system (STBRMS), which is one of the most advanced in the PRC, the massive rollout of digital STB would become more manageable and cost effective. This provincial win follows closely on the heels of breakthroughs with two provincial operators in Shaanxi and Inner Mongolia this year; which also have aggressive plans for their digital TV services roll-out over the next few years.
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.
Singapore Telecommunications Limited (SingTel) announced that NCS Pte. Ltd. (NCS) has through its wholly-owned subsidiary Computer Systems Holdings Pte. Ltd. (CSH) acquired approximately a 60 per cent stake in Mainboard-listed Singapore Computer Systems Limited (SCS), a leading information and communications services provider in Asia. NCS is in turn 100 per cent-owned by SingTel.
Based on the announcement by SingTel, CSH acquired the 93,144,501 SCS shares from Green Dot Capital Pte. Ltd. (GDC) for S$1.50 per share and a total consideration of approximately S$140 million in cash. Following the acquisition, CSH will also make a mandatory general offer for the remaining shares of SCS for S$1.50 per share in cash (the Offer).
The Board of Directors will be appointing a financial adviser to advise the directors who are considered independent for the purposes of the Offer. A circular containing the advice of the financial adviser and the recommendations of the independent directors (the Offeree Circular) will be sent to shareholders within 14 days of the posting of the offer document. In the meantime, shareholders are advised to refrain from taking any action in relation to their shares which may be prejudicial to their interests until they or their advisers have considered the information and the recommendations of the independent directors as well as the advice of the financial adviser to be set out in the Offeree Circular that will be issued by SCS in accordance with the requirements of the Singapore Code on Take-overs and Mergers. This news release should be read in conjunction with the full text of the announcement by SCS dated 25 August 2008 (the Announcement). A copy of the Announcement is available on www.sgx.com.
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.
Asia Power Corporation Limited (the Company) announced that the Company has acquired an additional 20 per cent interest (the Interest) in its subsidiary, Asia Power (Leibo) Hydroelectricity Co., Ltd (AP Leibo) from Chengdu Xing Chengyuan Hyrdopower Technology Development Co., Ltd, Neijiang
Xingyuan Power Group Co., Ltd and Zigong Southwest Steel Co., Ltd (the Acquisition). The Company’s 100 per cent owned subsidiary, Asia Hydro Power Investment Pte Ltd and its 60 per cent owned subsidiary, Asia Power (Neijiang) Hydroelectricity Co., Ltd currently hold 55 per cent and 20 per cent equity interest in AP Leibo respectively.
The purchase consideration for the Acquisition of RMB2,765,137.98 (equivalent to approximately S$568,792) (the Purchase Consideration), was arrived at on a willing seller-willing buyer basis after taking into account the value of the audited net tangible assets acquired through the Acquisition which amounted to RMB2,396,260 (equivalent to approximately S$472,270) as at 31 December 2007. After the completion of the Acquisition, the Company will be required to contribute to the unpaid registered capital of AP Leibo in respect of the Interest, amounting to US$1,191,999 (equivalent to approximately S$1,677,262). The Company shall make payment of the Purchase Consideration within 10 business days of the receipt of the Approval Certificate for Shares Transfer from the appropriate regulatory authority.
Upon completion of the registration of the transfer of the Interest, the Company will be required to contribute US$1,191,999 (equivalent to approximately S$1,677,262) to the registered capital of AP Leibo, being the unpaid registered capital in respect of the Interest. The Acquisition will be funded through part of the net proceeds from the placement of 40,000,000 new ordinary shares in the capital of the Company and is not expected to have any material impact on the earnings per share and net tangible assets per share of the Company for the financial year ending 31 December 2008.
Asia Power Corporation Limited ("Asia Power" or the "Group") is principally involved in the ownership, management and operation of power plants in China. The Group has invested in eight power plants and two power-related technology companies as well as two power business consulting companies in China.
HLN Technologies Limited (the Company) wishes to announce that HLN Technologies Sdn. Bhd (TSB), a wholly owned subsidiary of HLN Micron Pte. Ltd. (HLN Micron), which is wholly owned by the Company, has increased its issued and paid-up share capital from MYR 6,200,000/- to MYR 7,000,000/- by the allotment and issue of an additional 800,000 ordinary shares of MYR 1/- each at par, for a total cash consideration of MYR 800,000/-.
The additional investment by HLN Micron in TSB is not expected to have any material effect on the earnings per share or net tangible assets per share of the Group for the current financial year.
No director or substantial shareholder of the Company has an interest, direct or indirect, in the aforesaid transaction.
HLN Technologies Limited ("HLN Tech") was incorporated in Singapore on 26 February 2004 and subsequently listed on 25 November 2005. It is involved in the manufacture and sale of a wide range of customized precision metallic, elastomeric and polymeric components, which are used in a variety of industries principally in the office automation, consumer electronics and automotive industries. HLN Tech has in-house material formulation and compounding facilities where it blends the mixture of elastomers and other ingredients to make rubber compound, a raw material used in the production of its precision elastomeric and polymeric components. Apart from the manufacture and sale of customized precision metallic, elastomeric and polymeric components, HLN Tech also specializes in providing precision polymeric die-cutting services according to customers' specification and requirements. As part of its enhanced corporate vision to be a preferred Global One-Stop Solutions Provider for Integrated Mechanical Components, HLN Tech expanded into the Metallic business. The Metallic business unit has launched Metal Service Centre for the business of customized machining and slitting of metallic material.
Sitra Holdings (International) Limited (the Company) announce that its wholly owned subsidiary Sitra Agencies Pte Ltd (SAPL), has incorporated a company in the Kingdom of Cambodia (whereby SAPL has 60 per cent equity ownership) known as Sitra BMG (Cambodia) Pte Ltd (SBCPL).
The issued and paid up capital of SBCPL is 120,000,000 Riels (approximately US$30,000). The principal activities of SBCPL are those of trading, purchasing, selling, exchanging, importing and exporting of building materials.
The incorporation of SBCPL was funded through internal resources and is not expected to have any financial impact on the Company and the Group for the financial year ending 31 December 2008.
Sitra Holdings is a leading brand-centric distributor of quality wood-based products and lifestyle outdoor furniture. We operate from our headquarters in Singapore which serves as the marketing and customer service, operational planning, treasury and administrative centre. Our lifestyle furniture design function is based in Brisbane, Australia.
Qian Feng Fabric Tech Limited (Qian Feng or the Company) announce that its initial public offering (IPO or the Invitation) of 123,000,000 ordinary shares at an issue price of S$0.20 each was oversubscribed. The Invitation, comprising 100,565,208 new shares (New Shares) and 22,434,792 vendor shares, was structured as follows:
1,000,000 offer shares by way of public offer (the Offer Shares); and 122,000,000 placement shares by way of placement (the Placement Shares), including 809,000 Reserved Shares reserved for Qian Feng’s Independent Directors, employees, business associates and those who have contributed to the Company.
At the close of the application list at 12.00 noon on 25 August 2008, a total of 144 valid applications for an aggregate of 3,901,000 shares were received for the 1,000,000 Offer Shares. Application monies received in respect of the Offer Shares amounted to approximately S$0.8 million. The Placement Shares also received strong interests from both individual and institutional investors, such as Dubai Ventures Limited, Wellchamp Fund Limited and TS Marine Group S.A., which have been allocated a total of approximately 44.5 million shares.
Qian Feng Fabric Tech Limited (the Group) is an integrated manufacturer of high quality functional knitted fabrics applicable in a wide variety of products including casual wear, sportswear, shoes and bags. With our products used by reputable international and PRC brand names, we are well-positioned to ride on the global rise in affluence and growth of the PRC textile industry. Strategically located in Fujian Province – one of the PRC's largest fabric producing provinces – we are principally engaged in the production, dyeing and post-processing treatment of synthetic knitted fabrics. We process fabric products by imparting special functionalities such as water-resistance, fire resistance, moisture wicking, UV-protection, anti-mildew and anti-bacterial. Our customers are mainly sportswear and sport shoes producers, garment producers as well as fabric trading companies, the majority of whom are located in the PRC. Some of our products are used by our customers for the production of garments and shoes for well-known international brands such as Adidas, Kappa, Mizuno, Nike and Triumph, as well as PRC brands such as Anta, Erke, 361º, Li-Ning and Septwolves. Our customers' products are sold in the PRC, Hong Kong, Taiwan, the US, Europe, Japan and India.
Tat Seng Packaging Group Ltd (the Company) announced that the Company has on 26 August 2008, increased its investment in its wholly-owned subsidiary, United Packaging Industries Pte. Ltd. (United Packaging) from S$1/- to S$5,200,000/-.
The additional investment is funded by internal resources and is not expected to have any material impact on the net tangible assets or earnings per share of the Group for the financial year ending 31 December 2008.
None of the Directors or substantial shareholders has any interest, direct or indirect, in the above transaction.
Tat Seng Packaging Group Ltd is a leading manufacturer of paper packaging products listed on the mainboard of SGX-ST. It has operations in Singapore, Suzhou and Hefei, China. Tat Seng designs and manufactures paper packaging products for the packing of a diverse range of products according to customers' specifications, and sells other packaging related products.
Celestial Nutrifoods Limited will be investing in new facilities to extend its health food and beverages product range to include soya candies and protein milk in Daqing City of Heilongjiang Province, the People’s Republic of China (PRC). The production and related facilities (with an annual production capacity of
10,000 tonnes and 100,000 tonnes, for soya candies and protein milk, respectively) will be housed in the Group’s Soybean Zone.
Construction works for these production facilities will commence immediately and commercial production operations are expected to commence in around the first quarter of 2010
The total capital expenditure for these expansions is estimated to be apprRMB603 million, which includes, inter alia, the following:-
- machineries and equipment 389.60
- buildings and structures 140.00
- land use rights, supporting facilities and other construction costs 73.40
The above capital expenditure will be funded by the Group’s internal resources, mainly deriving from the proceeds of the convertible bonds issued in 2006.
Nestled in the heart of PRC's soybean agriculture base - Heilongjiang, the northern-most province of China, we are the leading manufacturer of a wide range of soybean protein-based food and beverage produsts. The cool climate conditions, fertilised soil and a pollution-free environment have enabled Heilongjiang to become the largest producer of soybeans in the PRC, producing about 8,000,000 tonnes per annum. Our products are sold under our renowned "Sun Moon Star" brand name and supplied to both the consumer market and to industrial users.
FerroChina Limited (the Company) announced that the Company has increased its investment in Twin Well Group Limited (Twin Well), a wholly-owned subsidiary by injecting a total of US$40.0 million into the capital of Twin Well.
The US$40.0 million capital is further injected through its wholly-owned subsidiary, Twin Well Group Limited (Twin Well) as capital into Changshu Xingdao Advanced Building-Material Co., Ltd, (Xingdao) (Capital Injection).
Consequent to the Capital Injection, Xingdao will have a registered and paid up capital of US$133.0 million. The Capital Injection will be used by Xingdao for its working capital requirements.
FerroChina, a PRC-based company listed on the Main Board of Singapore Exchange on 19 May 2005, is a leading manufacturer of galvanised steel coils in Asia. Today, under the leadership of an international management team, FerroChina is the largest and one of the most cost efficient independent value-added coated steel processors in China, focusing on the niche segment of coated steel coils. Located in Changshu City, Jiangsu Province, PRC, our customers are mainly steel trading companies, steel structure engineering companies and steel processing companies in the PRC covering diverse industries including construction, agricultural, infrastructure, consumer electronics, automobile spare parts, computer parts, building materials and industrial applications.
cloud|nex enables Düsseldorf’s businesses to exploit the power of cloud computing, virtualisation, web-services or content delivery through on-demand 1 to 10Gig Ethernet or dedicated fiber between corporate locations and datacenters, core and edge hosting environments. Additionally, cloud|nex provides edge connectivity to the internet, wireless or corporate networks over a scalable, high performance IP network. cloud|nex is pre-provisioned in over 100 datacenters across Europe. With peer|nex, businesses in Düsseldorf can now connect to Internet Exchanges in London (LINX, Lonap), Paris (Panap, Sfinx), Frankfurt (DE-CIX), Dublin (Inex) and Amsterdam (AMS-IX,
NL-ix). The solution is delivered on-demand for instant connectivity. Primarily interesting for financial institutions is trade|nex: on-demand Gig, 10GigE connectivity between all major European Stock Exchanges and clearing houses on a near zero-latency network for next generation automated and algorithmic trading.
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 Group’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 (SGX: H23.SI). Global Voice Group is a member of euro-one, a unique collaboration to deliver infrastructure and next generation networking solutions connecting Eastern, Central, Western Europe and North America.
Biosensors International Group, Ltd. (Biosensors or the Company) announced that the results of its landmark LEADERS clinical trial will be presented on 1 September during a key session of the 2008 European Society of Cardiology (ESC) meeting in Munich, Germany. ESC, which runs from 30 August to 3 September, is the largest medical meeting in Europe and is positioned as the European forum for the latest research in clinical and experimental cardiovascular disease.
LEADERS1 is a ground-breaking large-scale, non-inferiority clinical trial that compares the safety and efficacy of Biosensors’ Biolimus A9-eluting stent system (BioMatrix) with Johnson & Johnson’s Sirolimus-eluting stent system (Cypher). Prof Stephan Windecker, principal investigator of the LEADERS trial and director of the interventional cardiology department at the prestigious Inselspital University Hospital in Bern, Switzerland, will present the trial’s primary endpoint 9-month results during the main "hotline" session on 1 September 2008.
Earlier clinical trials involving BioMatrix drug-eluting stent technology have met all of their clinical endpoints. In the NOBORI Phase II trial, sponsored by Biosensors’ licensee Terumo Corporation, the Biolimus A9 drug-eluting stent technology demonstrated clinical superiority over Boston Scientific’s TAXUS® Liberte™ drug-eluting stent. The LEADERS trial results will be presented during ESC’s Hotline session on 1 September 2008, at 1212h Central European Time.
Biosensors develops, manufactures and markets innovative medical devices used in interventional cardiology and critical care procedures. Biosensors is well-positioned to emerge as a leader in drug-eluting stents and has developed a pipeline of next-generation products that are set to gain market share from traditional therapies such as conventional drug-eluting stents, bare-metal stenting and open-heart surgery. It has three separate drug-eluting stent programs, BioMatrix™, Axxion™, and BioFreedom™, a completely polymer-free drug-eluting stent.
Ascendas India Trust (a-iTrust) entered into a sale deed to acquire 96,051.88 square feet of office space (Office Units) in International Tech Park Bangalore (ITPB) from Tata Consultancy Services Limited (TCS) for a total acquisition cost of Rs 307.8 million (S$ 9.8 million). The space has been leased back to TCS concurrently. The Office Units are located within the award-winning ITPB, one of Bangalore’s premier landmarks and a state-of-the-art business park for organisations in high-tech industries, such as IT, ITES and bio-technology. ITPB currently comprises six multi-tenanted office buildings, a retail mall and a Built-to-Suit (BTS) facility for TCS. A new Taj hotel within the park will be ready soon.
a-iTrust owns 1.7 million square feet of space in ITPB, through its Indian special purpose vehicle, International Technology Park Limited (ITPL). Upon completion of the acquisition, ITPL will own 1.8 million square feet of space in ITPB. The transaction was part of an agreement between ITPL and TCS, whereby ITPL would construct and sell to TCS a BTS facility within ITPB, and TCS would in return sell to ITPL the Office Units after completion of the BTS facility. The purchase consideration of the Office Units and sale price of the BTS facility were negotiated and arrived at as a package deal.
The 515,000 square feet BTS facility has been completed and handed over to TCS.5 Despite having a new BTS facility, TCS wishes to continue occupying the Office Units to meet its operational needs. TCS has entered into a lease deed to lease all the Office Units. The acquisition is yield accretive, and the pro forma financial effect on a-iTrust’s Distribution per Unit (DPU) for the financial year ended 31 March 2008 is expected to be an additional 0.088 Singapore cents per Unit.6 The acquisition will be funded by borrowings, by drawing down a-iTrust’s existing loan facility with an interest rate of 70 bps above Swap Offer Rate. a-iTrust’s gearing will be 5 per cent, which is well within its gearing limit of 35 per cent or 60 per cent with credit rating.
a-iTrust was launched in August 2007 as the first Indian property trust listed in Singapore. a-iTrust allows investors to gain exposure to the Indian economy through a listed vehicle. It has the principal objective of owning income-producing real estate used primarily as business space in India. a-iTrust may also acquire and develop land or uncompleted developments, with the objective of holding the properties upon completion. a-iTrust was seeded by four world-class IT parks in India, namely the International Tech Park Bangalore, International Tech Park Chennai, and CyberPearl and The V in Hyderabad. It is managed by Ascendas Property Fund Trustee Pte Ltd. a-iTrust is structured as a business trust with certain characteristics similar to a Real Estate Investment Trust ("REIT"). Its unique growth model provides strong organic growth and growth from a development pipeline of existing land within its portfolio, and a three-pronged external acquisition strategy. This strategy includes acquisition through a right of first refusal over substantially income-producing business space, each from Ascendas Land International Pte Ltd and Ascendas India Development Trust, as well as the acquisition of third-party properties across India.
Multi-Fineline Electronix, Inc., announced it has signed agreements to lease a 117,000 square foot facility in Pontian, Johor Darul Takzim, Malaysia and to purchase manufacturing equipment located at the facility for approximately $1 million.
The facility is currently owned by Wearnes Electronics Malaysia, an electronics manufacturing and assembly services provider and subsidiary of WBL Corporation Limited, which is MFLEX’s largest shareholder. In addition, MFLEX will also offer employment to approximately 125 employees currently employed by or contracted to Wearnes Electronics. The new facility is expected to become operational in December 2008.
MFLEX intends to transfer its high-mix/low-volume assembly manufacturing currently performed at its headquarters in Anaheim, California and facilities in Suzhou, China to this new facility. MFLEX will run the leased facility as a satellite operation to provide additional assembly manufacturing capacity, a concept that it has successfully implemented in the past to accommodate increased demand on a just-in-time basis. The Company’s high-mix/low-volume business is comprised of programs featuring a significant number of models but produced in limited quantities and is currently in applications for the medical and industrial marketplace.
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. The Group continually reviews and upgrades its investment portfolio as it strives to optimize returns for shareholders. Property forms a significant part of Wearnes’ investment portfolio. Wearnes has plans to redevelop a strategically located 364,000 sq m site in Chengdu, China into a high-end residential project. The Group is also working with GIC Real Estate to develop a prime commercial-residential property project on the 33,473 square metres along the Golden Corridor of the city of Shenyang, China. Growing from a family-owned automotive dealer in the early 1900s to the multi-national conglomerate today, Wearnes marked its centennial milestone in 2005.
HG Metal Manufacturing Limited (HG Metal or The Group) announced that the Group’s wholly-owned subsidiary HG Metal Manufacturing Sdn Bhd (HGMMSB) has entered into a joint venture agreement with Amalgamated Industrial Steel Berhad’s (AISB) wholly-owned subsidiary Amalgamated Industrial Marketing Sdn Bhd (AIMSB) to establish Nusajaya Steel Sdn Bhd (NSSB or Joint Venture) in Malaysia.
The Joint Venture is the Group’s second major collaboration with a listed steel company within a month. On 13 August 2008, HG Metal announced the acquisition of 70.28 per cent stake in SGX-Mainboard listed steel mesh producer, BRC Asia Limited (BRC Asia) for S$48.1 million. The Joint Venture is a follow up on the announcement on the memorandum of understanding (MOU) signed between HG Metal and AISB, as announced on 29 February 2008.
The principle activity of NSSB is to manufacture spiral pipes for the water and construction industries for both the Singapore and Malaysia markets. Approximately 16 acres of land in Nusajaya Industrial Park (3 plots of 5 plots of land previously acquired by HG Metal) will be set aside for the Joint Venture, with construction on the land expected to begin in next year. Production is expected to start in 2010. The investment for the initial phase is estimated to be about RM20.0 million. The Joint Venture will be 70 per cent held by HGMMSB (and nominees) with the balance 30 per cent held by AIMSB. HG Metal will be funding the Joint Venture with through a combination of internal funds and bank borrowings.
HG Metal is a premier stockist and manufacturer of steel products. With more than 30 years in the steel business, HG Metal offers more than 2,000 different types of steel products of various dimensions for a wide variety of industrial and engineering applications. With their "one-stop supermarket" strategy, HG Metal is able to satisfy the needs of their customers with one visit to their extensive stockyard and manufacturing facility. HG Metal has also differentiated itself from its peers in its strategic move to custom manufacture steel products. HG Metal currently manufactures customized flat steel bars in a wide variety of engineering processes and mild steel lip channels commonly used as roofing support in commercial and industrial buildings. The Directors believe that HG Metal is the only steel stockist in Singapore with such manufacturing capability. This gives HG Metal a distinct competitive advantage against their competitors, as they can fulfill their customers’ requirements more quickly and completely, especially for specifications that are not readily available in the market.
Singapore Computer Systems Limited (SCS) wishes to announce that its wholly-owned subsidiary, SCS MNP Pte Ltd (SCS MNP), is divesting its 20 per cent stake in TX123(M) Sdn Bhd to Kompakar eSystems Sdn Bhd (Kompakar).
The total sale consideration for the 20 per cent stake is RM 30,000 in cash as mutually agreed between SCS MNP and Kompakar on a willing-buyer-willing-seller basis.
The above sale has no material impact on the net tangible assets of SCS. None of the directors or substantial shareholders of SCS have any interest, direct or indirect, in the above transaction.
Singapore Computer Systems (SCS) is a leading information and communications technology service provider in Asia. As the provider of Trusted Services to its customers, SCS empowers organisations with competent IT professionals, using proven processes and living technologies in a timely and cost-effective manner. Our services are designed to maximise organisational performance and are compliant with regulatory and security guidelines. They range from traditional IT infrastructure, business solutions, systems integration and managed services to state-of-the-art Application-Aware Infrastructure, Infrastructure-Aware Applications, converged communications, business rules management systems, business process outsourcing, and business continuity management services. These are flexible solutions that are adaptable to our customers' needs as their businesses grow or change. Trusted Services have been successfully deployed in multiple sectors including government; banking, insurance and financial services; manufacturing, logistics and distribution; healthcare; property; and telecommunications.
Raffles Education Corporation Limited
(RafflesEducationCorp or the Group) announced that it has received approval from the Yunnan Province Education Bureau to establish a joint cooperative education project in Kunming, Yunnan Province, China.
This is a collaboration with Yunnan Nationalities University.
The Group will invest a total of RMB3,000,000 (approximately S$621,000) into the new college over the next five years, and the first intake is expected to commence in October 2008. The college will offer Advanced Diplomas in Design, Business and Management.
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 23 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.
"…Unlike financial investors who can liquidate positions and walk away from the commodity
super-cycle, we at Noble have been painstakingly building a tangible business with real ports, real warehouses, physical mines – building businesses in an environment in which major producers of commodities have been consolidating."
Noble Group Limited