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Reports Singapore

Singapore stock market and companies daily report (GLP, Jason Marine Group, XMH Hldgs) (April 04, 2014)

April 4, 2014, Friday, 05:13 GMT | 00:13 EST | 08:43 IST | 11:13 SGT
Contributed by Shares Investment

- Global Logistic Properties (GLP) has leased 25,000 square metres of space at GLP Park CDHT to a leading e-commerce company in China. The client is one of GLP’s top 10 tenants in China by leased area. With the lease agreement, GLP Park CDHT is fully leased.

- Jason Marine Group’s subsidiary, Jason Venture, has sold its 51-percent stake in Baze & Marine Offshore for $51,000. As at the date of the disposal, Baze is in a net liability position.

- XinRen Aluminum Holdings has proposed to acquire an additional 30 percent of China Leading International Group (CLIG) for Rmb3.2 billion. CLIG owns a large-scale integrated aluminum power plant entity located in Xinjiang, China. In FY13, the plant reported a total production output of approximately 400,000 tonnes of aluminum ingots with a net profit of about Rmb443 million. With the purchase, if successful, XinRen’s stake in CLIG would increase to 51 percent.

- XMH Holdings’ subsidiary, Xin Ming Hua, has been ordered by the High Court of Singapore to pay $3.5 million to Pacific Marine & Shipbuilding (PMS) to settle a legal proceeding filed by PMS against Xin Ming Hua. PMS had alleged that Xin Ming Hua supplied it with four defective marine parts.