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Reports Singapore

Singapore stock market and companies daily report (Golden Agri, Kingsmen Creatives, SembMarine) (July 21, 2014)

July 21, 2014, Monday, 05:39 GMT | 00:39 EST | 09:09 IST | 11:39 SGT
Contributed by Shares Investment

Golden Agri-Resources has established a 50:50 joint venture with CEPSA Química to jointly develop, formulate, produce, distribute and sell fatty alcohols at a global level. The joint venture company, Sinarmas Cepsa will be headquartered in Singapore and is expected to benefit from both companies’ expertise, knowledge and capabilities throughout the fatty alcohols supply chain.

Jubilee Industries Holdings proposed the acquisition of WE Components, a subsidiary of WE Holdings, for a purchase consideration of US$8.4 million. The target company primarily operates in the Asia region and is in the business of distributing passive components in the electronics industry, including electrolyte capacitors, multi-layer chip capacitors and chip resistors since its incorporation. The target company further owns seven subsidiaries, an associate company and a sub-subsidiary.

Kingsmen Creatives bagged a contract worth $25.2 million from KidZania Singapore, a edutainment chain company that is headquartered in Mexico. Under the contract, the company will construct and maintain fit-out works for an attraction that is slated to be open on Sentosa Island’s Palawan Beach. Expected to be completed by 2015, the attraction will be Singapore’s first indoor family edutainment centre opened in the country.

Sembcorp Marine won a contract worth $600 million for the conversion of two floating storage production offloading vessels for the Kaombo project in the offshores of Angola. Post conversion, the two vessels will each have an oil treating capacity of 0.1 million barrels per day and a storage capacity of 1.7 million barrels of oil. The project is expected to take 32 months to complete after the first vessel enters Sembawang Shipyard in 3Q14.

Youyue International was awarded a town planning project in Harbin city involving the upgrading of an existing housing estate in Harbin using green architect and technology. The project which covers a built-up area of approximately 0.2 million square metres, is expected to be completed before the end of 2014 and benefits about 1,850 households.