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Stocks In Focus SG (AEM Holdings, Cheung Woh Tech, Giken Sakata) – 01/10/14
AEM Holdings agreed to dispose of its 57.7 percent owned subsidiary, Microcircuit Technology (S) (MCT) for US$3 million. MCT is a company that is incorporated in Singapore where its principal activities lie in the design and manufacturing of organic substrates. Following the consecutive losses of MCT from 2008 to 2013, amounting to US$42.9 million (approximately $56.6 million), the company views the disposal to be in its best interest.
Cheung Woh Technologies via its subsidiary, Cheung Woh Technologies (Malaysia) (CWM), agreed to purchase a land and building located at No. 1065, Lorong Perusahaan Maju 2, Kawasan Perusahaan Perai, 1360 Perai, Penang, Malaysia, for RM9.3 million (approximately $3.7 million). The acquisition will facilitate the company’s expansion and is also located near to the existing premises of CWM. Cheung Woh Technologies intends to finance the acquisition by both cash and bank loans.
Giken Sakata secured extensions for both the Trembul and Gabus agreements. The extension of ten years, will allow the company’s subsidiary, Cepu Sakti Energy, to operate in the Trembul and Gabus oil fields until 2 November 2020 and 14 December 2021 respectively. Both agreements can be further extended for another 5 years. Separately, in view of the group’s growing oil production in Dandangilo-Woncolo and Tungkul oil fields, the group intends to set up a central oil gathering station with a capacity to collect up to 2,000 barrels of oil.
KLW Holdings acquired a freehold and seven-storey property located at 301 Flinders Lane, Melbourne, Australia for A$23.6 million. The property is erected on an 895 square metres land plot and is located in Melbourne’s central business district, and within close proximity to the city’s financial district. In addition, the property is fully leased to Victoria University until October 2020, and comes with three shop frontages that provide an estimated annual yield of 5.8 percent.
Nera Telecommunications has received purchase orders relating to network infrastructure and wireless infrastructure networks. The order for network infrastructure worth $37 million, involves the work of IP and broadcast network equipment for various customers in Southeast Asia. The second order worth $20 million, relates to the supply and maintenance of microwave radio equipment for various customers in Southeast Asia, Middle East and Africa.
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