BreadTalk Group Ltd announced that a new subsidiary, Shanghai Star Food F&B Management Co., Ltd., has been incorporated by Star Food Pte Ltd, a 60% owned subsidiary of the Company. Shanghai Star Food, incorporated in the PRC, will be engaged mainly in the management of the Carl’s Jr. Restaurant business in the municipality of Shanghai and the provinces of Jiangsu and Zhejiang in the PRC pursuant to the franchise arrangement with Carl Karcher Enterprises, Inc.
ASL Marine announced that a net earnings of $18.1 million (US$12.8 million) for the fourth quarter ended June 30, a 40 percent increase from a year ago. Group revenue also rose 37 percent to $115.4 million on the back of broad-based growth in all three segments of shipbuilding, shiprepair and shipchartering. Net earnings for FY2008 stood at $60.3 million, 50 percent higher than a year ago. Revenue for the year grew 26 percent yearon- year to reach $400.4 million.
CSE Global Ltd announced that CSE-Uniserve NZ Limited, its 100% owned New Zealand subsidiary, has entered into a Sales and Purchase Agreement with the family trusts of Noel Richard Wordsworth and Peter Michael Parsons under which CSE-Uniserve is to acquire from Vendors all the shares in W Arthus Fisher Ltd (WAF) for a consideration of NZ$2,208,250. WAF represents some of the world’s leading manufacturers of process control and automation equipment and offers engineering services to diverse industries. Darco Water Technologies announced that its subsidiary in Taiwan has recently secured an S$8.4 million soil remediation project slated for delivery in FY2008 and FY2009. This current project, awarded by BSE Engineering Corporation Taiwan Ltd., is tasked to treat a mercury-contaminated in Miaoli Country, Taiwan.
The Infinity Consortium today announced that Starhub will be taking the role of Consortium Lead in its bid to build a state-of-the-art Fibre-to-the-Home broadband network in Singapore. Starhub replaces former Consortium Lead, Hong Kong’s City Telecom, which has ceased to be a member of the Consortium. Mobile One (M1) continues to play an active part in the Infinity Consortium as a key member.
Swiber Holdings Ltd announced that its subsidiary, Swiber Offshore Construction Pte Ltd, has inked a Memorandum of Understanding with a leading Saudi Arabic firm, Rawabi Holding Company Limited, to develop business in offshore EPCIC projects and marine activities in Gulf Cooperation Countries (GCC). The GCC includes countries such as Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates and Oman. This alliance is one among a series of collaborative efforts by Siwber in its bid to expand its geographical presence and ramp up its offshore activities in the Asia Pacific and Middle East regions.
Tritech Group Ltd announced that its Initial Public Offering (IPO) has been fully taken up. At the close of its IPO at 12 noon on 19 August 2008, 120 valid applications were received for the Offer share made available for public. In total, these applicants applied 2,758,000 Offer Shares; with application monies received amounting approximately S$0.55 million. Tritech’s Placement Tranche was fully subscribed by institutional and individual investors. Total application monies received for Placement Shares amounted to approximately S$7.7 million.
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