Ace Achieve Infocom has reported an 11.3 percent year-on-year growth in turnover to Rmb237.8 million in FY14, on the back of higher revenue from all business segments, in particular the Broadband data solutions segment. Consequently, coupled with decreases in selling and distribution, administrative and other operating expenses, net profit rose 14.5 percent to Rmb20.9 million.
CitySpring Infrastructure Trust has entered into a joint venture, DataCentre One (DO), with Shimizu Corporation to develop and lease a $130 million data centre in Singapore. The company’s subsidiary, CityDC, will hold a 51 percent stake in DO and the investment will be approximately 50:50 funded by equity and long-term debt. DO will lease the data centre to 1-Net Singapore, a wholly-owned subsidiary of MediaCorp and the company is expected to benefit from the long-term, regular cash flow derived from the lease agreement.
DeClout agreed to acquire Asia Wiring Systems for a purchase consideration of $11.5 million. The target company is a one-stop solutions provider that provides value-added services as well as various products to data centres and building owners. The acquisition will open up new market opportunities for DeClout, leverage on the target company’s existing clientele and its network to provide and cross sell existing services and products of DeClout. The acquisition will be financed by cash and a rights issue.
KrisEnergy agreed to acquire the entire share capital of Premier Oil Sumatra (North) (POSN) and repay certain intercompany loans outstanding from POSN’s account for an aggregate consideration of $40 million. POSN holds a 41.7 percent working interest in the Block A Aceh production sharing contract with a 103.5 million barrels of oil equivalent attributable to the company’s working interest as of 31 December 2013. The acquisition is expected to be financed with cash, debt and other sources of capital..
LionGold Corporation proposed to acquire the rights, title and interest in the Hargraves Gold and Boiga Gold projects for a purchase consideration not exceeding A$12 million, subjected to the valuation of gold deposits located in the mines. The company aims to recover 1.2 metric tonnes of gold deposits with an average grade of 2.5 gram per tonne from the Hargraves Gold project, while the mining site of the Boiga Project has no past records of modern exploration or mining activities. The acquisition will be financed by A$2 million in cash and the remaining consideration depending on the gold deposit valuation will be satisfied through a rights issue in the company.
Nam Cheong has sold an additional four vessels with a total value worth approximately US$92 million ($115 million). Three platform supply vessels were sold to a repeat customer, while a 200-men accommodation work boat was sold to a new customer in the marine and oil support services industry. With the new contracts, the company’s order book stands at approximately RM1.7 billion.
Sinopipe Holdings has reported a 4.9 percent year-on-year increase in revenue to Rmb149.9 million for 1Q14. The rise in turnover was mainly due to higher sales from the water supply and fuel gas segments partially offset by lower sales from the other segments. However, net losses expanded by 21.6 percent in 1Q14 to Rmb29.1 million on the back of lower gross profit margins caused by higher materials costs and a substantial increase in finance costs.
Vallianz Holdings has agreed to acquire 24,500 shares which represent a 49 percent stake in Vallianz Marine (VM) for US$2.3 million. Following the acquisition, VM will become a wholly-owned subsidiary of the company and the management believes that the acquisition will further strengthen the company’s position as an integrated offshore marine services provider.
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