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Reports Singapore

Singapore stock market and companies daily report (Design Studio, Halycon Agri, Jubilee Industries) (July 14, 2014)

July 14, 2014, Monday, 09:43 GMT | 04:43 EST | 13:13 IST | 15:43 SGT
Contributed by Shares Investment

Design Studio Group’s wholly-owned subsidiary, DDS Singapore has secured a $75 million contract from OUE. The contract, expected to be completed by 4Q15, entails retrofitting the low and mid zones of existing office tower OUE Downtown 1 into service apartments. The new contract increases the company’s order book by 32 percent to $312.5 million.

Halycon Agri Corporation’s unit, Halycon Rubber Company has inked a deal to acquire Anson Company for $450 million. Anson owns nine crumb rubber factories in Indonesia with a total annual licensed export capacity of 408,000 tonnes. The acquisition will elevate Halycon Agri to be among the top five rubber producers globally and significantly scale benefits are expected to be realised as the business infrastructure costs will be spread over a larger production base.

Jubilee Industries Holdings, an associate of WE Holdings, announce the acquisition of a 26 percent stake in Malaysia’s largest electronics manufacturing services player, EG Industries, for $8.4 million. The company has also signed a non-binding memorandum of understanding with WE to acquire its entire electronic components unit, WE Components. The proposed acquisitions are in line with the company’s strategy to transform itself into a one-stop electronics solution provider.