According to OSK, Lum Chang holdings announced its plans to buy a London property being operated now as a hotel by the sole tenant for SGD52m, in line with its strategy to seek property investment projects in the UK.
Here's more:
Its subsidiary, PPPL entered into a sale-and-purchase agreement with Purple SKy Sarl on Monday to buy the free- hold property situated in the City of Westminster Borough next to tourist attractions such as Hyde Park for SGD52m plus value added tax of about GBP5.2m which is expected to be completed on 13 Jan 2014.
However, PPPL will submit a standard claim for refund of the VAT paid.
Linc Energy launched its IPO today with a very thick prospectus. It is offering 47,850,000 shares at $1.20 each of which only 500,000 is reserved for the public. The IPO will close on 16 Dec 2013 at 12pm.
Positioned as "front runner" in deepwater exploration.
Keppel FELS Ltd (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), is proceeding with the building of its new CAN DO drillship. The company said this was due to positive feedback and strong enquiries from the market.
When completed in 2016, the drillship is expected to be a state-of-the-art deepwater exploration, development and completion drilling vessel.
Mr Chow Yew Yuen, Chief Operating Officer and CEO-Designate, Keppel O&M, commented, “As with all our market established proprietary designs, our new CAN DO drillship design was developed in close consultation with customers, major oil companies and vendors. The newly developed design is capable of handling next generation 20K psi blowout preventers.
“While most modern drillships currently in operation were designed and built for exploration drilling, industry feedback has revealed the need for vessels capable of performing development and completion drilling in addition to exploration drilling. Since the launch of our design earlier this year, we have received very encouraging response from the market, and we have decided to start constructing the first drillship to this design. We believe the drillship meets the high functionality, safety and cost-effective requirements of the industry.”
Jointly developed by Keppel Offshore & Marine Technology Centre (KOMtech), the R&D arm of Keppel O&M, and its design partner GustoMSC, Keppel’s CAN DO drillship is designed to overcome the constraints of limited deck space found in most modern day drillships.
Apart from incorporating exploration drilling requirements, the design allows for the installation of third party equipment invariably required for development and completion drilling through the incorporation of a large functional deck space. In addition, the drillship has a double blowout preventer stack integrated into the design, and has a riser hold capacity meeting 12,000 feet water depth with the flexibility of storing either 75-foot or 90-foot long risers.
The drillship has been model tested at the MARIN facility in the Netherlands and has also obtained class approval for the basic design. A full 3D model has been created for construction purposes.
A further announcement will be made once a firm contract has been secured for this drillship unit.
If you are a defensive investor, then Thai Beverage (SGX: Y92) is likely to figure highly on your watch list.
That is the first thing to like about Thai Beverage. Defensive shares, it should be said, are not the most exciting of businesses. However, their product and services tend to be stable in both good times and bad, which can confer a degree of stability. Some investors might find that attractive, while others may balk at the attribute.
In the main, defensive shares tend to pay out a large proportion of their earnings to investors as dividends. And Thai Beverage is no exception. It distributes around 70% of its earnings to investors. Over the last five years, dividends have a grown around 7% a year.
The second thing to like about Thai Beverage is its attractive Return on Equity (RoE). The company’s RoE is one of the highest on the Singapore market. While investors can expect a return of about 9% from the 30 companies that make up the Straits Times Index (SGX: ^STI), Thai Beverage’s RoE is, by comparison, a mouth-watering 45%.
Thai Beverage also provides investors with an easy way to get exposure to the Thai economy – the company generates over 90% of its revenues from Thailand. Its flagship brand, Chang, together with its other bubby amber nectar, is reckoned to command around half of the Thai beer marker. Apart from beer, the company also distils rum, whiskey, vodka and gin.
SIA boosts Singapore-Taipei flights with new codeshare deal
It inked agreement with EVA Air.
According to a release, Singapore Airlines customers travelling between Singapore and Taipei now have a choice of three daily flights, as a result of a new codeshare agreement with Star Alliance partner EVA Air.
Under the agreement, SIA will add its ‘SQ’ code to EVA Air-operated flights between Singapore and Taipei. On a reciprocal basis, EVA Air will add its ‘BR’ code to Singapore Airlines-operated flights between Singapore and Taipei.
Singapore Airlines currently operates two daily flights to Taipei. Tickets for the codeshare services are now open for sale. Customers are advised to check singaporeair.com for updates to flight schedules.
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