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Reports Singapore

Singapore stock market and companies daily report (ComfortDelGro Corp, Popular Hldgs, Sino Construction) (June 09, 2014)

June 9, 2014, Monday, 05:59 GMT | 00:59 EST | 09:29 IST | 11:59 SGT
Contributed by Shares Investment


- ComfortDelGro Corporation divested its 76 percent interest in its subsidiary, Yantai ComfortDelgro Automobile Services for a sale consideration of Rmb20.78 million (approximately $4.2 million). Further to the announcement, the company did not proceed with the intended 50:50 joint venture with Guangzhou Transportation Group, where the agreement was signed in November 2012.

- Popular Holdings entered into collaboration agreements with BBC Worldwide (BBCW) to license certain brands and intellectual property belonging to BBCW for the operation of English language learning centers in Mainland China and Hong Kong.

- Sino Construction agreed to acquire 51 percent of the issued share capital in Signet Coking Coal International for a purchase consideration of US$21 million. Through the acquisition, the company expects to gain a strong foothold to participate in the coking and thermal coal resources industry as well as a diversification from its existing business.

- KLW Holdings secured four new contracts worth $10.2 million for the supply and installation of doors to three private residential projects in Singapore and a commercial project in China. In addition, the company has signed a three-year door supply agreement to XL Joinery, a subsidiary of Golden Pharos (Europe), where the agreement is valued at approximately US$34 million and ends in February 2017.