All of Chi-East’s initial participants — Instinet, Deutsche Bank (DBKGn.DE), Morgan Stanley (MS.N), Nomura and UBS (UBSN.VX)— have successfully matched trades on the platform, the firm said in a statement.
Lenovo, the worlds fourth-largest PC maker, is in talks to create a joint venture with NEC that would enable both businesses to better compete globally, according to published reports. – Five years
after becoming a player on the global PC scene by buying IBMs personal
computer business, Lenovo reportedly is in talks with NEC about a joint venture
of sorts around their PC units, according to reports.
Quoting an
unnamed source, the Wall Street
Journal reported Jan. 21 that the t…
Intel and GE have officially launched Care Innovations, a joint venture focused on assistive technologies for the elderly and those living with chronic conditions. – Intel and GE Healthcare have announced that their telehealth joint venture,
Intel-GE Care Innovations, officially launched as of Jan. 3 and received full
regulatory clearance.
The new company will focus on technologies to help the elderly remain in
their homes as well as independently in senior…
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Wilmar International said a unit signed an agreement with Kerry Properties (China) and Shangri-La China to set up joint ventures to develop properties in China’s Liaoning province. The unit’s investment in the venture will be about 889.2 million yuan ($176 million), based on a maximum total investment by the venture of 2.57 billion yuan.
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PZ Cussons Plc sees a joint venture to refine and sell palm oil in Nigeria as potentially generating “several hundred million dollars” or more of annual revenue for the two partners, its finance director said.
The UK maker of Imperial Leather soap and its venture partner, Singapore’s Wilmar International, plan to build a plant outside Lagos that will employ a “couple of hundred” workers, Brandon Leigh said in a telephone interview today. He declined to give a time scale for the projected sales.
PZ Cussons Plc sees a joint venture to refine and sell palm oil in Nigeria as potentially generating “several hundred million dollars” or more of annual revenue for the two partners, its finance director said.
The UK maker of Imperial Leather soap and its venture partner, Singapore’s Wilmar International, plan to build a plant outside the Nigerian capital Lagos that will employ a “couple of hundred” workers, Brandon Leigh said in a telephone interview today. He declined to give a time scale for the projected sales.
At 0143 GMT, shares of Gallant Venture, which develops resorts in Indonesian island Bintan, were up 8.3% at $0.39 with over 23.7 million shares changing hands.
Gallant Venture (5IG.SG) +6.9% at $0.385, extending its recent gains (+45% since start of November vs STI +1.5%) as interest in Gallant — which has landbank in Bintan about a quarter of the size of Singapore — has been revived after Kim Eng initiated the counter at Buy with a $0.75 target on Nov 23.
Then, the brokerage noted “with land sales in Bintan going at 36 times its book value, it is becoming clear that the company’s landbank in the island is grossly undervalued.”
OCBC raises Venture Corp. (V03.SG) fair value to $12.10 from $10.73 as the house rolls forward 15x valuation from blended FY10F/FY11F EPS to FY11F EPS; keeps at Buy.
“After recently posting a fairly decent set of 3Q10 results, Venture Corp expects to see sequential revenue growth going into its seasonally strong quarter, noting most of its customers have maintained their positive sentiment.”
Olam will have an 80% stake in the operation with the Lababidi Group, an African company with interests ranging from wheat milling to port real estate, holding the rest. Half the investment will be debt-funded, with the remainder contributed by each partner in line with their equity, Olam said today in a Singapore stock exchange statement.
The company, in which Singapore state investor Temasek Holdings (TEM.UL) has 14% stake, said it controls 80% of the venture, while Lababidi Group holds the remaining 20%.
“The total project cost amounts to approximately US$200 million, which is expected to be phased over three years from FY 2011 to FY 2013,” Olam said in a statement.
Olam will hold an 80% stake in the operation with the Lababidi Group, a diversified African company with interests ranging from wheat milling to port real estate, holding the rest. Half the investment will be debt-funded, with the remainder contributed by each partner in line with their equity, Olam said today in a Singapore stock exchange statement.
At 0134 GMT, Olam shares were up 3.3% at $3.17 on a volume of 3.5 million shares.
Commodity company Olam International (OLAM.SI) said on Friday it has entered into a joint venture to set up a US$200 million ($261.5 million)sugar refinery in Nigeria.
The company, in which Singapore state investor Temasek Holdings (TEM.UL) has 14% stake, said it controls 80% of the venture, while Lababidi Group holds the remaining 20%.
“The total project cost amounts to US$200 million, which is expected to be phased over three years from FY 2011 to FY 2013,” Olam said in a statement.
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Olam International said it will form a joint venture with the Lababidi Group which will invest about US$200 million ($261.5 million) to set up a sugar refinery in Nigeria. Olam will have an 80% stake in the venture, it said in a statement to the Singapore exchange. The project will be funded by equity and debt, it said.
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Shares of Singapore-listed Gallant Venture, which develops industrial parks and resorts, rose as much as 12% on Tuesday after a broker initiated coverage of the firm with a "buy" and noted its assets were "grossly undervalued", local traders said.
At 9:39 a.m., its shares were up 9.8% at $0.28 with over 18.4 million shares changing hands.
Kim Eng Securities started Gallant at "buy" with a target price of $0.75, and said the firm, which has several ongoing projects to build resorts in Bintan, Indonesia, will benefit from rising tourist arrivals on the island.
Gallant currently trades at half its book value, which Kim Eng said ignores the growth potential of its Lagoi Bay project, a resort development in Indonesia, as well as other investments.
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Kim Eng Securities starts Gallant Venture (5IG.SG) at Buy with $0.75 target.
Says company’s land bank in Indonesia’s Bintan island grossly undervalued as overall land sales worth 36x Gallant’s book value.
Says Bintan’s previous lack of critical mass had stalled progress of company’s land sales, but rapid completion of key developments like Treasure Bay, Lagoi Bay “should provide a shot in the arm going forward”.
Adds robust tourist arrivals in Singapore have benefited Bintan, which expected to attract 440,000 visitors this year vs around 400,000 in 2009; “the increase in visitors will translate to higher revenue for Gallant’s utilities and resort operations.”
Shares +9.8% at $0.28.
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Guangzhao Industrial Forest Biotechnology Group says it is planning to enter the business of selling, marketing and distributing organic agricultural products like vegetables, fruit, rice and edible oil.
To achieve that, the company says it will enter into a sales and marketing agency agreement with Shihua Co (SCL), a company wholly-owned by the controlling shareholders of Guangzhao.
