Singapore stock market and companies daily report (Sembcorp Industries, Religare Health, Armarda Group) (February 03, 2014)
February 3, 2014, Monday, 06:26 GMT | 01:26 EST | 10:56 IST | 13:26 SGT
Sembcorp Industries agreed to acquire 45 percent of NCC Power Projects which is currently building a 1,320-megawatt coal-fired power plant along the coast of Nellore in Andhra Pradesh, India. This project will double Sembcorp’s power generation capacity in India and increase its footprint in the country’s growing power generation market.
Religare Health Trust proposed to acquire an operating clinical establishment at Mohali for a consideration of 2.7 billion rupees (approximately $55.1 million). The facility, located in Sector 62 of Mohali, is a multi-specialty hospital which provides emergency trauma care services, and serves as a “hub” for a number of smaller, secondary hospitals in the surrounding areas.
For the nine months ended on 31 December 2013, Armarda Group’s revenue expanded 59.9 percent to HK$16.6 million, mainly due to an increase in sales of RFID chips and satellite phones. Gross profit margin in 9M14 declined 9.1 percentage points to 14.9 percent amid higher revenue mix from trading of RFID chips and satellite phones which generated lower gross profit margin. China Satellite Mobile Communications Group, an associate of Armarda, brought in share of losses of HK$6.6 million in 9M14, caused the company to sink deeper into the reds.
Stratech Systems secured a contract from the Government of Singapore for the iFerret™ Infrastructure at Changi International Airport to be upgraded for airfield surveillance which is critical for real-time incident management as well as post-event analysis for runway incursions and excursions, and other emergencies.
Swiber Holdings clinched five contracts totaling US$235 million for the provision of works and services in Latin America and Southeast Asia. These contracts will commence immediately and are expected to be completed in the next two years.