The Board of Directors of Iconic Holdings Limited wishes to announce that the Company has entered into a Heads of Agreement dated 12 September 2008 with Hunan Taihe Group Stock Co., Ltd and Phoon Wui and Zenna Overseas in relation to the proposed acquisition of the entire share capital of Zenna which if undertaken and completed will result in a reverse take-over of the Company.
The Public Transport Council (PTC) today announced fare revisions for bus and train fares which will come into effect on 1 October 2008. Under the new fare structure, adult ez-link fares and senior citizen concession ez-link fares will be increased by 4 cents while adult cash fares will rise by 10 cents. The increase will go largely towards the transfer rebate which is being increased from 25 cents currently to 40 cents. SBS Transit will bear 10 cents of the 15-cents increase. Children and student fares, as well as prices for student and NS concession passes, will not be increased. To mitigate the impact of the fare changes, SBS Transit will be extending $3.6 million worth of assistance schemes. This will comprise: $350,000 worth of transport vouchers which will be disbursed through the Citizens’ Consultative Committees (CCCs) to complement the assistance they are already rendering to the needy through the CCC ComCare Fund, $3 million worth of extended concession hours for the elderly - a concession which SBS Transit has been extending throughout the day since 2005; and $250,000 for offering unlimited bus travel with our SeasonPass.
The Board of Directors of Koh Brothers Group Limited wishes to announce that Pencroft Investments Pte Ltd, a 50:50 joint venture company between AIG Lengkong Investment Limited and Koh Brothers Development Pte Ltd has been placed under members’ voluntary liquidation.
The Board of Directors of Nam Lee Pressed Metal Industries Limited wishes to announce that the Company is proposing a Proposed Share Consolidation of every two (2) existing ordinary shares in the capital of the Company into one (1) ordinary share. As a result of the Proposed Share Consolidation, each shareholder of the Company will receive one (1) Consolidated Share for every two (2) Shares held prior to the Proposed Share Consolidation as at the Books Closure Date.
The Board of Directors of Oniontech Limited wishes to announce that the Company has disposed of its entire equity interest in its wholly-owned subsidiary, Guangzhou Oniontech Information Technology Limited to Oniontech Co. Limited, another wholly-owned subsidiary of the Company at a cash consideration of KRW 201,500,294.
The Board of Directors of CH Offshore Ltd is pleased to announce that the Company has entered into the following charters with third parties (a) Five-year extension of two Time Charters of two 2005-built 5,400 brake horse power anchor-handling tug/supply vessels, and (b) A Bareboat Charter of a new 12,240 brake horse power, 150 ton bollard-pull anchor-handling tug/supply vessel that the Company took delivery of from the building yard in Japan on 12 September 2008. The Bareboat Charter is for a primary period of 8 months, with an option for the Charterer to extend the charter period for another 8 months. The total gross contract value for the Charters, including the extension period under the option, is approximately US$40 million.
The Board of Directors of Contel Corporation Limited wishes to announce that the Singapore Exchange Securities Trading Limited has on 12 September 2008 granted its in-principle approval for the listing and quotation of 14,613,836 additional new ordinary shares to be issued pursuant to the issue of Zero Coupon Convertible Bonds due 2010 and the resetting of Conversion Price pursuant to the terms and conditions of the Convertible Bonds.
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