StarHub Wins Broadcast Rights For Uefa Euro 2012
StarHub has won the exclusive broadcast rights for the Uefa Euro 2012. The major football tournament, co-hosted by Poland and Ukraine, will kick off on 8 June and end on 12 July next year. The telco will not announce the subscription rates in next year; in 2008, subscribers of its Digital Cable Sports Group who signed up early paid $10 and those who signed up later paid $20, while those without the Sports Group subscription paid $50. Due to the cross-carriage law that has became effective in August, SingTel’s mio TV subscribers will be able to watch the broadcast at the same price as StarHub viewers.
Significance: The win positive for StarHub, not only can it generate additional revenue from subscribers of rival mio TV, the broadcast will be shown in its original form featuring StarHub’s branding and commercials.
Loyz Looks To Australasia For E&P Expansion
Loyz Energy (Loyz) has set eyes on Australasia to expand its exploration and production business, this came as plans were made known to acquire stakes in two petroleum exploration permits. In the first acquisition, Loyz will take an initial 20%-stake in a petroleum exploration permit owned by Trident Energy for A$0.65m. The companies will undertake exploration activities off the coast of Victoria in Australia, after the interpretation of 3D seismic data, Loyz’s stake could rise to 70% upon approval from the Australian authorities. For the second deal, Loyz is in negotiation to acquire an interest in a permit to explore oil and gas reserves in the Taranaki Basin off New Zealand’s North Island.
Significance: The latest acquisitions are Loyz’s efforts to grow its concession portfolio beyond India as well as to become a regional upstream player. Notably, it has earlier entered agreement with Rex Oil & Gas to gain proprietary technologies to reduce exploration risks and costs.
Sheng Siong To Extend Reach Across The Causeway
Sheng Siong, Singapore’s third largest supermarket retailer, is looking to extend its reach over the causeway. Talks have been ongoing with a potential partner to expand into Malaysia, which it aims to have at least fifty outlets over the longer term. It plans to set up its first Malaysian in Johor, however, it has no intent to enter the hypermarket fray as competition is intense among larger peers such as Carrefour. On its Singapore business, it aims to achieve an annum 10% revenue growth through opening about four to six new outlets in the suburbs each year. Specifically, it hopes to ride on the government’s initiative to build more public housing by opening more supermarket outlets in new housing estates.
Significance: Sharing a similar culture, Sheng Siong hopes to repeat its local success in Malaysia. In particular, the nation’s growing population and rising income will boost demand for basic necessities like groceries, which could likely benefit its business.