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DBS Bank Ltd and China Unionpay signed a Memorandum of Understanding (MOU) that expands existing partnerships made in Singapore and Hong Kong for retail banking offerings. With this strategic alliance, DBS can now offer the full suite of CUP card products and related services in markets it operates in, including China and Indonesia.

Wilmar International Limited and Star Medal, a wholly-owned subsidiary of Kerry Holdings Limited, have each agreed to invest US$36 million to acquire new shares in Fortune Gas representing 15 per cent each of the enlarged share capital of Fortune Gas.

Time Watch Investments Limited announced that Gold Joy Investments Limited, a wholly-owned subsidiary of Winning Metal Products Manufacturing Limited, has jointly with a Chinese party established a Sino-Foreign Joint Venture Company known as Suzhou Bao Li Chen Company Limited in the Suzhou province of the People’s Republic of China. The principal activities of the said joint venture company will be in retail watch business

Singapore Technologies Engineering Ltd announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has won a S$112m contract from the Land Transport Authority of Singapore (LTA) for the supply of Half Height Platform Screen Doors (HHPSD) and its associated works for all existing elevated Mass Rapid Transit (MRT) stations. Work will commence in September this year and is expected to be completed in 2012.

Biosensors International Group Ltd announced that a next-generation drug-eluting stent, developed by Biosensors, has demonstrated equal safety and efficacy as compared to Johnson & Johnson’s industry leading drug-eluting stent.