Stocks In Focus SG (Asiasons Capital, SIIC Enviroment Holdings, Atlantic Navigation Holdings (Singapore) ) – 24/12/14

Asiasons Capital has signed a sales and purchase agreement to dispose of Asiasons WFG Capital at a consideration of $0.5 million. The disposal will allow the company to focus on its investment business and streamline its operations.

Atlantic Navigation Holdings (Singapore) announced the setup of a new joint venture, Atlantic Venture Inc, with an unrelated party. The joint venture has acquired a new vessel, allowing Atlantic Navigation Holdings (Singapore) to manage the new vessel for 3 years with possible renewals. Also, the company secured two contract renewals which will see a one-year extension to its charter of two vessels supporting works in Abu Dhabi and Africa, bringing the potential contract value to approximately US$33 million.

AusGroup’s subsidiary MAS Australasia has been awarded an AUD68.5 million scaffolding contract extension with CB&I Kentz Joint Venture. MAS will continue to provide scaffolding services, including management personnel, scaffold design and engineering and coordination assistance through the supply of labour services. With the award of this contract, AusGroup’s order book now stands at AUD486 million.

SIIC Environment Holdings has entered into a supplementary concessionary agreement, in relations to the expansion and upgrading of Hanxi waste water treatment plant, for a period of 20 years. The total investment cost for the project is estimated at Rmb722 million, and will be fully funded in cash and financed internally and bank borrowings.

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