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Reports » Singapore

Singapore stock market and companies daily report (F J Benjamin Hldgs, Q&M Dental Group (S’pore), Rex Int’l) (December 06, 2013)

December 6, 2013, Friday, 16:35 GMT | 11:35 EST | 21:05 IST | 23:35 SGT
Contributed by Shares Investment

FJB’s Raoul Expands Into The Middle East

- F J Benjamin Holdings’ international fashion brand, Raoul, has inked a franchise deal to open nine standalone Raoul stores in the Middle East by 2017.

- The franchise agreement signed between F J Benjamin Holdings and Chalhoub Group is valid for five years with an option to extend for another five years, subjected to terms and conditions.

- According to a recent report from Bain and Company, Dubai commands around 30 percent of the Middle East’s luxury goods market, and around 60 percent of the UAE’s. It is a shopping magnate for tourists particularly from Russia, India and Africa.

Significance: With the latest franchise deal, this will be the third franchise partnership signed by F J Benjamin Holdings in 2013, where the company is expected to have a total of 48 stores in the UAE, China and Sri Lanka.

Q&M Dental Donates To Education Fund In China

- Q&M Dental Group has agreed to sponsor Rmb0.5 million per year for three years from 2014 for the purpose of dental undergraduate and dental post-graduate studies in Liaoning Medical University.

- The education fund, Q&M Dental Group (Singapore) – Liaoning Medical University President Fund, will be set up by the University which will be used, namely to support research work carried out by postgraduate students, provide education bursaries to students from low income families as well as to sponsor expenses for basic skills training and study trips.

Significance: The donation will not only help needy students but also to provide new avenues for dental students to excel in. Q&M Dental will seek to develop new technologies and techniques together with Liaoning Medical University’s post graduate students and elevate the standards in dentistry.

Rex International To Acquire Stake In New Licence In Norway

- Rex International Holdings via its subsidiary, Lime Petroleum Norway, has agreed to acquire a 20 percent stake in a new licence, PL509, in Norway. Meanwhile, the stake transfer is pending regulatory approval.

- PL509 contains oil prospects in areas totaling 977 square kilometers which are located in the North Sea, south of the Gullfaks area and about 150 kilometres west of Bergen in Norway, on the Norwegian Continental Shelf.

- PL509 has been reviewed by Rex International’s proprietary drilling technology, Rex Virtual Drilling, where the company is positive about the prospects there. Subsequently, the licence holders will make a decision on whether to drill an exploration well in the licence by mid-2014.

Significance: With the latest acquisition, Rex International’s portfolio of licences in Norway will increase to seven, up from the initial four since its initial public offering on 31 July 2013.