Keppel T&T’s Securus Funds Acquires Malaysian Data Centre
Securus Data Property Fund announced on 17 June 2012 that it has completed an acquisition of an 80 percent stake in a data centre located in Selangor, Malaysia. The data centre is a freehold, high quality facility strategically located in Cyberjaya, a technology park that forms a key part of the Multimedia Super Corridor in Malaysia. The purpose-built facility has good fibre connectivity to all major carriers and has access to secured power sources. Through the use of natural lighting, ducted fresh air system and double-walled structures to minimise direct heat exposure, the data centre is designed for maximum energy efficiency. The remaining 20 percent stake in the data centre is owned by a company within the Basis Bay Group. The Keppel Telecommunications & Transportation (Keppel T&T) linked fund mentioned that it was very excited about entering Malaysia’s fast growing data centre market. It is confident that the newly acquired asset will provide a very stable income flow to the Fund.
Significance: This most recent development is the fourth acquisition made by Securus Fund as it seeks to expand its footprint across the world. Previous acquisitions include data centres in London, Sydney and Brisbane.
Stratech Enters Into Partnership With Punj Lloyd
Stratech Systems has entered into a partnership agreement with Indian firm Punj Lloyd for its iFerret Airfield/Runway Surveillance and Foreign Object and Debris (FOD) Detection System. The agreement will allow Punj Lloyd to market, sell and deploy Stratech’s surveillance and detection systems in India. Approved by the US Federal Aviation Administration (FAA), the iFerret system is the world’s first intelligent vision-based FOD detection system. The system has already been deployed at numerous airports such as Changi International Airport in Singapore and Chicago O’Hare International Airport in the US. Dr David Chew, Stratech’s executive chairman said that the collaboration with Punj Lloyd will allow Stratech to establish a presence in the vast Indian market. In particular, Chew sees tremendous opportunities for the partnership and may even extend the partnership to other parts of the world.
Significance: Stratech is seeking to leverage on Punj Lloyd’s experience, network of contacts and reputation for its entry into the vast Indian market. If successful, the move may well expand Stratech’s footprint as it expands its iFerret market.
Otto Marine Secures Time Charter Contract
Offshore marine company, Otto Marine has secured a ship chartering contract for 180 days for its newly built 75 meters Work Maintenance Vessel. Otto Marine also mentioned that the contract includes additional options for extension of the ship charter. The contract is expected to generate approximately US$7.6 million for the minimum scheduled period of the charter (180 days) and up to US$57.3 million with the options for extension. SOC Endeavour will be deployed for general maintenance works in the Kuwaiti, UAE and offshore Iraqi waters. It was delivered to the charterer in early June 2012. Aw Chin Leng, deputy president of Otto Marine said that its continued stream of new contract wins by its chartering arm validates its international expansion strategy. Aw then reiterated the firm’s stance in aggressively building the firm’s chartering earnings and the expansion of its chartering programme.
Significance: The contract is expected to positively contribute to Otto Marine’s FY12 earnings. Notably, chartering is already a main contributor to Otto Marine’s turnover with that operating segment providing 52.1 percent of the company’s turnover in 1Q12.