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Reports » Singapore

Singapore stock market and companies daily report (Asiatravel.com, Figtree Holdings, Tritech Group) (August 20, 2014)

August 20, 2014, Wednesday, 06:13 GMT | 01:13 EST | 10:43 IST | 13:13 SGT
Contributed by Shares Investment


Asiatravel.com Holdings entered into a memorandum of understanding with Zhonghong Holding to facilitate strategic business cooperation and investment opportunities. As part of the agreement, Asiatravel will be appointed as a sales and marketing partner to link up Asiatravel’s two million monthly web visitors to Zhonghong’s integrated resorts, theme parks and hotel properties in China.

Broadway Industrial Group proposed a 2-for-15 rights issue of 55.5 million new shares at $0.18 per rights share, representing a 29.4 percent discount to the theoretical ex-rights price of $0.255 per share based on the closing price of $0.265 per share on 31 July 2014. Under the maximum subscription scenario, the net proceeds of $9.6 million raised, will be used for, namely repayment of debt, general working capital purposes and capital expenditure. The book closure date will be announced at a later date.

Figtree Holdings proposed the acquisition of a freehold property in Melbourne, Australia for A$14 million (approximately $16.3 million). Located in close proximity to various amenities such as the Melbourne Central Mall and universities, the property is a freehold land parcel with a total land area of 503 square metres. The land parcel is currently occupied by an existing three-level building which the group intends to re-develop into a high rise mixed development.

Logistics Holdings has been awarded three contracts worth $66.5 million by the Ministry of Education for building and maintenance works of three groups of schools. The project mainly involves maintenance, alteration, repair and decoration works for a period of four years. Expected to commence on 1 September 2014 and completed by 31 August 2018, the award will lift the group’s order book to $396.3 million.

SIIC Environment Holdings has been awarded a Build-Operate-Transfer wastewater treatment project by the Dalian Municipal Government in Dalian, China. The project will involve the construction and operation of a wastewater treatment plant with a design capacity of 40,000 tons per day for a concessionary period of 22 years, including the construction phase. In order to take on the project, the group intends to invest Rmb71.6 million for the incorporation of a company.

Teho International posted a 40.5percent rise in revenue to $60.4 million for the year ended 30 June 2014, stemmed from higher contribution from its Marine, Offshore Oil & Gas segment. Despite a growth in overall expenses, earnings grew 42.5 percent to $3.4 million. The group has subsequently declared a first and final dividend per share of $0.008.

Tritech Group bagged a sewer contract worth $15.1 million awarded by the Public Utilities Board. The project involves mainly the construction of pipes and manholes as well as demolition of Kranji Pumping Station and Lorong Asmara Solids Divertor. The commencement date of work is 26 August 2014 and the expected completion date is 25 August 2017.