ST Engineering says ST Electronics (Info-Software Systems) (STEE-InfoSoft) has acquired the remaining 30% equity stake in PM-B from the other existing shareholder, Nicky Ting, for a total cash consideration of $2 million.
With the acquisition, PM-B becomes a wholly-owned subsidiary of STEE-InfoSoft, which in turn is a wholly-owned subsidiary of ST Electronics, the electronics arm of ST Engineering.
Sembcorp Industries announces that it is acquiring all remaining shares in The China Water Company (CWC) not already held by Sembcorp’s municipal water subsidiary, Cascal.
The company signed a sale and purchase agreement today with CWC’s only other shareholder, Waterloo Industrial Limited, for its 13% stake in CWC.
HKL (MCL) Pte, a unit of Hongkong Land Holdings, will offer $2.45 in cash for each remaining share in MCL Land and plans to delist the company from the Singapore bourse. The offer by HKL, which holds about 77.4% of MCL Land, is 26% higher than the closing price of $1.95 on Aug 24. The offer values MCL Land at about $906 million.
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Wilmar says 100% subsidiary PGEO Group Sdn. Bhd has entered into a sale and purchase agreement to acquire the remaining 8.62% of Natural Oleochemicals Sdn Bhd from National Land Finance Co-operative Society, for RM42,452,830 ($18.3 million) or RM2.41 per share, which was the same price per share paid earlier by Wilmar for its acquisition of the 91.38% interest in Natoleo from Kulim. Wilmar says funding for this acquisition will be from internal sources of funds and bank borrowings.
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Singapore Technologies Engineering today announced that its aerospace arm, Singapore Technologies Aerospace, has acquired the remaining 30% equity stake in ST Aerospace Training Academy (STATA) through its wholly-owned subsidiary, ST Aerospace Engineering.
See Hup Seng says it plans to acquire the remaining 49% stake in TAT Petroleum for $28.4 million to strengthen the group’s earnings base.
See Hup Seng already owns equity interests of 51% in TAT Petroleum, and intends to purchase the remaining 49% stake from vendors Ang Keng Boon, Tan Thoo Chye, Tan Thoo Huat, Thong Kum Pue and Wong Soon Meng.
ST Engineering says its electronics arm, ST Electronics, has entered into an agreement to acquire the remaining 21.43% equity stake in Intelect Technologies Inc. from the other existing shareholder for US$150,000 ($210,750).
The purchase consideration was arrived at on a willing buyer willing seller basis taking into consideration Intelect’s current assets and future prospects. The acquisition will be fully paid in cash.
Samta Hotels, which belongs to the Ng family, the controlling shareholder of Furama, is making a voluntary unconditional cash offer for all the Furama shares it does not own at $2 each. The Ng family holds a total of about 103 million or 66.6% of Furama shares directly or through Samta.
Furama is an investment holding company focusing on the hospitality industry. The group owns the Furama RiverFront Hotel (formerly the Apollo Hotel Singapore) and the Furama City Centre Hotel (formerly the Furama Hotel Singapore). Furama also holds a 13% interest in the Grand Hyatt Hotel in Taipei and the company also entered into joint ventures with various Thai partners and invested in four hotel properties in Bangkok.
Sentosa Development Corporation (SDC) says it has signed an agreement with Hazeltree Holdings, a wholly-owned subsidiary of Temasek Holdings, to purchase the latter’s 50% holding in Mount Faber Leisure Group (MFLG) with immediate effect. MFLG has now become the 100% owned subsidiary company of SDC.
MFLG, which owns and manages the new Jewel Rides, previously known as cable car rides, as well as The Jewel Box hilltop tourist attraction, will remain committed to building its successful brand and to serving its passionate community.
