Stocks In Focus SG (KLW Hldgs, KS Energy, S’pore Post) – 09/03/15

KLW Holdings has agreed to acquire a five-storey freestanding office building located in Melbourne, Australia for approximately AUD12.5 million ($13.3 million), which will be funded through internal resources and debt. The property is currently classified in a mixed use zone but is subjected to potential rezoning for inclusion in a capital city zone. There are a range of potential development options for the asset, including refurbishment or redevelopment into a multi-level residential apartment, student accommodation and a boutique hotel.

KS Energy announced that its indirect subsidiary, PT Atlantic Oilfield Services, and its joint operation partner have been awarded a US$7.2 million contract for the KS Java Star jack-updrilling rig. The contract is expected to commence in March.

Singapore Post’s unit, SingPost eCommerce has agreed on a 33:67 joint venture (JV) with PT Trikomsel Oke, to set up an Indonesian JV company for the importation and supply of goods to e-commerce and online retailers as well as providing technical support services related to e-commerce platforms. The partnership will allow the group to leverage on Trikomsel’s distribution reach in Indonesia, which is expected to become the world’s third largest consumer base.

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