Latest stock news

􀂃 CapitaLand announced that its indirect wholly-owned subsidiaries, Ausprop Holdings and Austvale Holdings, were allotted a total of 502.8 million new stapled securities in Australand under the institutional entitlement offer of a one-for-one rights issue in Australand at the issue price of A$0.60 per new stapled security. The total subscription price of about A$302 million (S$391 million) was paid in cash.

􀂃 MacCoffee, Food Empire’s flagship brand is voted the most productive brand according to Brand Finance. In the report published by Brand Finance on 7th August 2008, MacCoffee was recognized as the most hardworking brand with a brand value of SGD$170 million that makes the most valuable contribution to its enterprise value, SGD$326 million. This represents 52% of the total enterprise value.

􀂃 Jaya Holdings posted a 24 percent rise in full-year profit to $149.8 million from $120.8 previously. The offshore shipping division provided the largest bottom-line contribution of $84.6 million, which was 27 percent higher than the previous financial year. This was attributed to better returns for higher valued vessels added to the fleet and higher gains from the disposal of vessels which saw the division reaping $50.4 million from the sale of nine vessels against a gain of $38.6 million from the sale of eight vessels in the previous financial year.

􀂃 Jurong Technologies Industrial Corpn. Ltd 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 company plans to invest up to US$50 million over the next 12 months in its new 500,000 sq ft Nusajaya, Johor, Malaysia facility, with a target to produce up to 50 million light bulbs per month once the plant is completed. They have already secured orders for its new CFL products and plans to commence mass production from October 2008.

􀂃 Pacific Healthcare Holdings Ltd plans to set up comprehensive cancer care centres in the region which will add to the spectrum of integrated, multi-disciplinary specialist healthcare services it is already providing. Spearheading PHH’s entry into cancer care in Asia is the appointment of an eminent American oncologist Dr. Steven Tucker who was previously the Director of the Prostate & Genitourinary Oncology Programme at The Angeles Clinic & Research Institute in California.

􀂃 Sino-Environment Technology Group Ltd announced that the company has increased its investment in the registered capital of its wholly-owned subsidiary, Thumb Env-Tech Group (Fujian) Co., Ltd. from RMB 130,000,000 to RMB 180,560,381. The company has also increased its investment in the registered capital of its wholly owned subsidiary, Fuijian Thumb Environmental Facilities Co., Ltd from USD 19,420,415 to USD 26,827,330.

􀂃 STX Pan Ocean announced that its application to Korea’s Financial Services Commission, to incorporate a securities company in Korea has been unsuccessful. As the company has almost run out of time before the application deadline, they have decided to withdraw its application for a new securities company license.

􀂃 Tri-M Technologies (S) Ltd announced that it has agreed to buy Kingworld Resources, a company involved in the development and production of crude oil in China, for $203 million. Kingworld, a company incorporated in the British Virgin Islands with a paid-up capital of US$50,000, has a contract with the China National Petroleum Corporation to jointly develop and produce hydrocarbon resources at an oilfield in Songliao Basin, Jilin Province. Tri-M will pay $23 million in cash to Kingworld’s two existing shareholders, Tiong Hiew King and Tiong Kiu King. The rest of the acquisition will be paid for through the issue of 180 million new Tri-M shares at $1 each.