Stocks In Focus SG (CapitaLand, IEV Hldgs, SingPost) – 04/12/14

CapitaLand’s wholly-own residence business unit, the Ascott, is rounding off its 30th anniversary celebration with the $90 million acquisition of the recently-opened 185-unit Ascott Kuningan Jakarta, under a conditional agreement with PT Ciputra Adigraha. In addtion, Ascott has also secured a contract to manage Ascott Waterfront Saigon in Vietnam, which will be the first Ascott branded serviced residence in the country when it opens in 2016.

IEV Holdings clarifies, with regards to media release, that Malaysia-based companies Emrail and Ofnir Engineering has yet to be awarded the Crude oil handling facilities project in Bangladesh. The holding’s subsidiary IEV Malaysia has agreed on a Technical and Service Agreement with the two Malaysian-based companies but it does not tantamount to the awarding of the project to IEV. Discussions are ongoing between the parties, and further announcements will be made should there be material developments connecting with the Project.

Singapore Post’s subsidiary, Quantum Solutions, has announced an A$95 million ($105 million) acquisition of Australian-based parcel delivery company Couriers Please Holdings, in an effort to strengthen its e-commerce logistics capabilities in the continent. Couriers Please has a wide network of 575 franchisees and has handled close to 11 million consignments in the financial year of 2014. The acquisition will be funded by Singpost’s internal resources, and is said to take place by December 2015.

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