Micro-Mechanics (Holdings) Ltd (“Micro-Mechanics” or the “Group”), a manufacturer of precision tools and consumable parts for the global semiconductor assembly and test industry, reported steady growth in revenue and net profit for its financial year ended 30 June 2008 (“FY2008”), bucking the softer trend experienced by many of the other companies that serve the semiconductor industry. For FY2008, Group net profit rose 6.7% to S$8.9 million on the back of a 10.1% increase in revenue to S$38.2 million, thanks to the double-digit sales growth it notched up in China, Europe, Thailand and Malaysia.
Federal International (2000) Ltd (the “Company”) announced that construction of an integrated gas and power plant (the “Plant”) by PT Jabung Gas Plant (“PT Jabung Gas Plant”), a joint venture company held jointly by the Company’s wholly-owned subsidiary and PT Tanjung Jabung Power (“PT TJP”), for the supply of electricity and gas to PT Lontar Papyrus Pulp and Paper Industry (“Lontar Papyrus”), will not commenced as PT Jabung Gas Plant and Lontar Papyrus had mutually agreed to terminate the contract for the supply of electricity and gas (the “Contract”) and neither party is required to pay any cost or penalty to each other. Additionally, the Company has to-date not inject any capital into PT Jabung Gas Plant. The termination of the proposed construction of the Plant and the Contract is not expected to have any material impact on the financial position of the Company and Group for the financial year ending 31 December 2008.
CapitaLand Ltd has entered into share purchase agreements to inject four Raffles City-branded integrated developments in China, namely, Raffles City Shanghai, Raffles City Beijing, Raffles City Chengdu and Raffles City Hangzhou, into its Raffles City China Fund (“RCCF”). The US$1 billion (S$1.4 billion) real estate private equity fund, CapitaLand’s largest to date, will be acquiring CapitaLand’s effective 55.9% stake in Raffles City Shanghai and 100% of the other three Raffles City projects under development. CapitaLand has a 50% stake in the Fund.
CNA Group Ltd (“CNA” or “the Group”) announced that it has been awarded a S$10.4 million contract for providing an Intelligent Building Management System (“IBMS”) and structured cabling system for Singapore’s Changi Airport Terminal 1 upgrading initiative. The landmark deal is also the fourth time that the Group has been brought in to be a part of developing Singapore’s world-class aviation infrastructure.
Darco Water Technologies Limited (the "Company" or ”Darco” or the “Group”) announced that it has increased its investment in solid waste management to S$8.3 million, up from S$3.6 million. The new investment of S$4.7 million is in view of acquiring an existing business and subsequent upgrading of the facility to recycle 3,600 tonnes/year of toxic hazardous waste in Taiwan. Current treatment plant capacity is only standing at 2,160 tonnes/year.
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