Stake | ICT magazine - Part 5

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Noble to sell coal mine stake to Gloucester, Australian says

August 4th, 2010 | No Comments

Noble Group, a Singapore-based commodities trader, will sell its stake in Queensland’s Middlemount coal mine to its Australian subsidiary Gloucester Coal for as much as A$300 million ($370 million), the Australian newspaper said. Gloucester will separately raise up to A$500 million to fund a purchase of the 30% stake in Middlemount and exercise an option to buy a further 20% of the mine from Macarthur Coal for more than A$100 million, with an announcement expected as early as today, the newspaper reported.

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Mitsui to buy stake in Hyflux water plants in China

August 2nd, 2010 | No Comments

Japan’s second biggest trading house Mitsui & Co (8031.T) will acquire a 50% stake in four water treatment projects in China belonging to Singapore’s Hyflux (HYFL.SI), the water firm said on Monday.

In a statement to the Singapore exchange, Hyflux did not say how much the deal was worth, but said Mitsui’s investment would be done through a joint venture with Hyflux.

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Kirin to pay $1.34b for Fraser & Neave stake

July 27th, 2010 | No Comments

Kirin Holdings Co., Japan’s largest brewer, agreed to pay $1.34 billion for Temasek Holdings Pte’s 14.7% holding in Fraser & Neave Ltd. to boost overseas growth.

Kirin will buy 205.5 million shares for $6.50 each from Singapore’s state-investment company, the Tokyo-based beermaker said in a statement on its website yesterday. That’s 14.6% higher than yesterday’s closing price for the Singapore- based property developer that also makes Tiger beer while bottling and marketing Coca-Cola Co. products such as Sprite.

Fraser & Neave shares climb after Kirin buys Temasekâ€™s stake

July 27th, 2010 | No Comments

Fraser & Neave shares climbed to its highest level since December 2007 after Kirin Holdings Co. agreed to buy Temasek Holdings Pte’s stake in the Singapore brewer for $1.34 billion.

Fraser & Neave gained 2.8% to $5.83 as of 9:12 a.m. in Singapore. Kirin is $6.50 a share for Temasek’s 14.7% stake in the company.

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Kirin to pay $1.3m for stake in Fraser & Neave: Update

July 26th, 2010 | No Comments

Kirin Holdings Co. agreed to pay $1.34 billion for Temasek Holdings Pte’s 14.7% stake in Fraser & Neave as Japan’s largest brewer seeks growth overseas.

Kirin will buy 205.5 million shares for $6.50 each from Singapore’s state-investment company, the Tokyo-based beermaker said in a statement on its website. That’s 14.6% higher than today’s closing price for the Singapore-based property developer that also makes Tiger beer while bottling and marketing Coca-Cola Co. products such as Sprite.

Kirin to buy Fraser & Neave stake from Temasek

July 26th, 2010 | No Comments

Japan’s Kirin Holdings (2503.T) will buy a 14.7% stake in beer and property conglomerate Fraser & Neave (FRNM.SI) from Singapore state investor Temasek Holdings for US$953 million ($1.3 billon) to accelerate its expansion in Asia.

Kirin has spent nearly US$5 billion on acquisitions in the past two years to diversify its operations and grow outside its saturated home market of Japan, where it vies for the top spot in beer sales with Asahi Breweries (2502.T).

Kirin announces acquisition of 14.7% stake in F&N for $1.3b

July 26th, 2010 | No Comments

Kirin Holdings says it signed a share purchase agreement for the acquisition of shares in Fraser and Neave. Kirin says this investment will further enhance Kirin’s international integrated beverage group strategy in the Asia and Oceania regions.

Temasek to sell entire F&N stake to Japan’s Kirin: Update

July 26th, 2010 | No Comments

Japan’s Kirin Holdings (2503.T) has agreed to buy a 14.7 stake in in beer and property conglomerate Fraser & Neave (FRNM.SI) from Singapore state investor Temasek Holdings for $1.3 billion.

Kirin, which vies with Asahi Breweries for Japan’s top spot in beer sales, said the move is aimed at expanding in Southeast Asia.

Kirin to pay $1.34b for 14.7% stake in Fraser & Neave

July 26th, 2010 | No Comments

Kirin Holdings Co. said it agreed to pay $1.34 billion for a 14.7% stake in Fraser & Neave, according to an e-mailed statement today. Kirin bought the stake from Singapore’s Temasek Holdings.

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Temasek agrees to sell 14.7% stake in Fraser & Neave to Kirin

July 26th, 2010 | No Comments

Temasek Holdings said it agreed to sell its entire 14.7% stake in Fraser & Neave to Kirin Holdings Co., according to an e-mailed statement today.

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Keppel 2Q profit falls 53% to $347.3m on absence of stake sale

July 22nd, 2010 | No Comments

Keppel Corp., the world’s largest oil-rig maker, said second-quarter profit dropped 53% after the company didn’t repeat one-time gains of last year.

Net income fell to $347.3 million in the three months ended June from $739.5 million a year earlier, the company today said in a Singapore stock exchange statement. Sales dropped 25% to $2.42 billion. A year earlier, profit was boosted by the sale of a stake in Singapore Petroleum Co.

ARA Asset Management acquires 15% stake in Aussie real-estate fund manager

July 22nd, 2010 | No Comments

ARA Asset Management says it has acquired a 15% interest in boutique Australian real-estate fund manager, APN Property Group, for A$4.6 million ($5.6 million) via a share placement.

APN is a specialist real estate fund manager listed on the Australian Securities Exchange (ASX) with total assets under management of A$2.6 billion as at 31 March 2010. APN currently manages real estate securities funds, private equity real estate funds, a listed real estate investment trust (REIT) and unlisted property funds investing primarily in Australian real estate.

ST Engineeringâ€™s electronics arm raises stake in Telematics Wireless

July 16th, 2010 | No Comments

ST Engineering says wholly-owned subsidiary, ST Electronics (Info-Comm Systems), has increased its stake in Telematics Wireless by 2.73% for a sum of US$2.16 million ($3.07 million).

With this increase, STEE-InfoComm owns 96.66% stake in Telematics.

Jackspeed snaps up 80% stake in Mil-Com Aerospace for $6.3m

July 15th, 2010 | No Comments

Jackspeed Corporation says it has entered into a sale and purchase agreement with Mil-Com Investments to purchase 800,000 Mil-Com Aerospace shares representing an 80% stake for $6.3 million.

Mil-Com Aerospace is in the business of the provision of aerospace engineering support services, aviation training and consultancy services.

Asia Power to buy 80% stake in 3 hydro power plants in China

July 13th, 2010 | No Comments

Asia Power Corp., a Singapore-based renewable energy developer, has signed an agreement to acquire an 80% equity interest in three hydropower plants from Sichuan Hongya Heshen Power Co. for 76.65 million yuan ($15.7 million).

Under the agreement, Asia Power (Hainan) Investment Co., a wholly-owned subsidiary of Asia Power, along with Chinese small-hydro plant operator Sichuan Hongya, will establish a Sino- foreign joint venture, Asia Power said in a statement.

Mermaid disposes stake in Allied Marine & Equipment Sdn. Bhd. for $16.6m

July 12th, 2010 | No Comments

Mermaid Maritime Public Company says it has agreed to sell its 25% shareholding in Worldclass Inspiration Sdn. Bhd. (WCI) to Georgia Attraction Sdn. Bhd., the other shareholder of WCI for about US$12 million ($16.6 million).

WCI is an investment holding company whose sole asset is 90% of the shares in Allied Marine & Equipment Sdn. Bhd., a Petronas licensed provider of subsea engineering services to the offshore oil and gas industry incorporated in Malaysia.

Temasek says BP stake talk is â€˜speculationâ€™: Update

July 8th, 2010 | No Comments

Singapore state investor Temasek Holdings dismissed talk it had held discussions with troubled British oil company BP Plc (BP.L) for a strategic stake.

“It’s speculation,” Temasek Executive Director Simon Israel told reporters on Thursday when asked if Temasek was indeed talking to BP. Israel did not comment further.

Temasek’s comment comes after BP (BP.N) boss Tony Hayward met an Abu Dhabi state investment fund on Wednesday, part of a quest for cash to ward off takeovers and help pay for the worst oil spill in US history.

Yangzijiang acquires 51% equity stake in Jiangsu Changbo Shipyard

June 28th, 2010 | No Comments

Yangzijiang Shipbuilding (Holdings), one of China’s leading and most enterprising shipbuilder, says its wholly-owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co., today acquired 51% of the equity interest in the capital of Jiangsu Changbo Shipyard Co.

Otto Marine unit takes 19.2% stake in US-based JV company Surf Subsea Inc.

June 25th, 2010 | No Comments

Offshore marine group Otto Marine says wholly-owned subsidiary Surf Subsea has taken a 19.2% stake in the US-based joint-venture company, Surf Subsea Inc. which has acquired DMT Emerald, a 292-feet Class 2 DP MSV, for US$55 million ($76.5 million).

The vessel will enable the group to enter the US market for sub-sea and offshore construction works in addition to its current seismic activities, hence creating more growth opportunities for its new business arm: Specialised Offshore Service.

Sino-Forest raises stake in Hong Kong-listed Omnicorp

June 23rd, 2010 | No Comments

Sino-Forest Corporation, the commercial forest plantation operator in China, says it has entered into a share subscription agreement with Omnicorp (HKSE: 0094), a Hong Kong-listed company.

Sino-Forest will purchase a total of 230 million shares in Omnicorp at HK$1.82 ($0.324) per share, for a consideration of HK$418.6 million or US$53.7 million ($74.5 million).