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Reports Singapore

Singapore stock market and companies daily report (Forterra Trust, Great Group Hldgs, Oxley Hldgs) (April 07, 2014)

April 7, 2014, Monday, 04:52 GMT | 23:52 EST | 08:22 IST | 10:52 SGT
Contributed by Shares Investment

- Forterra Trust’s subsidiary, China Real Estate Opportunities, has proposed to sell Dream Land Properties, which owns Beijing Logistics Park (BLP). BLP is a logistics warehouse with a total gross floor area of 75,145 square metres located in Beijing, China. Estimated net proceeds, $44.9 million, will be used to fund the development of The Place as well as general corporate and working capital purposes.

- Great Group Holdings’ (GGH) subsidiary, 3W Life Investment, has agreed to buy a 90-percent stake in Basic World Resources (BWR) for $8.7 million. BWR provides sourcing, procurement and design services to the garment and fashion industry. In view of weak performance in GGH’s contract manufacturing business in the past two financial years, the proposed acquisition is in line with its strategy to grow its fashion business segment.

- Oxley Holdings has proposed the possibility of restructuring its overseas property development business. This includes a potential listing of the business on the Singapore Exchange Catalist board.

- XMH Holdings won two contracts worth US$3.6 million to supply engines under Mitsubishi’s licensing. The first contract helps XMH build its business in the Vietnamese market and would aid in reducing the firm’s over-reliance on the Indonesian work boat market.

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