Stocks In Focus SG (Jackspeed Corp, PEC, Sino Construction) – 25/09/14

Jackspeed Corporation agreed to acquire a freehold property located at 221 Henderson Road #06-15 Singapore 159557 for $2.2 million. The property is an industrial B1 unit with a gross floor area of 2,454 square feet (sq ft). The company will re-locate its corporate office to the proposed property following the disposal of a property located at 47 Loyang Drive Singapore 508955. The proposed acquisition is expected to be funded by both cash and bank loans.

PEC exercised an option to purchase a 30-year leasehold property located at 11 Neythal Road Singapore 628577 for $8.3 million. The property has a total land area of 56,349 sq ft, and comprises a factory equipped with overhead cranes and an ancillary office building. The purchase will be financed by both cash and bank loans. The proposed acquisition will increase the company’s capacity to undertake larger projects, expand its scope of work as well as house its workers.

Sino Construction proposed an off-market takeover bid to fully acquire the share capital of Guildford Coal (GUF), a company listed on the Australian Securities Exchange, for a price of up to A$63.3 million (approximately $71.2 million). GUF is an emerging resource explorer with a portfolio of projects in the coal bearing regions of Queensland, Australia and Mongolia, Central Asia. If successful, Sino Construction intends to finance the acquisition by the allotment of up to 229.6 million new shares where 1 share of Sino Construction is offered for every 4.5 shares in GUF.

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