Stocks In Focus SG (Ley Choon Group, Singapore Press Hldgs, TEE Int’l) – 08/09/14

Ley Choon Group Holdings has been awarded a contract by PowerGas worth $16.8 million, for the laying of gas transmission pipelines from Woodlands Avenue 10 to Senoko Road.

Singapore Press Holdings via its subsidiary ShareInvestor, has acquired 60 percent of the paid-up share capital of Waterbrooks Consultants and certain of its trademarks and intellectual property rights for $0.9 million. Waterbrooks is primarily involved in the business activities of providing investor relations, financial and corporate communications, sustainability reporting and crisis management services.

TEE International bagged $73 million of new contracts in Singapore. The first contract is to carry out works involving the fixed gangway and passenger loading bridges at Terminals 1 and 2 of Singapore Changi Airport. The second contract is a subcontract signed with the People’s Association for the provision of air-conditioning and mechanical ventilation works, for a development in Singapore known as Tampines Town Hub. The new contracts awarded will lift the group’s order book to $493 million.

The Straits Trading Company via its subsidiary, Straits Developments (SD) proposed the sale of Straits Trading Building which is valued at $410 million as at 3 September 2014, for $450 million. The property is erected on four land plots that are on 999-year leaseholds. When completed, the purchaser has agreed to lease the 28th level of the property to SD which it is currently occupying. Based on a historical acquisition cost of $70.6 million for the property, the group will be able to recognise a gain of $373.3 million.

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