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Stocks In Focus SG (AEI Corp, Koyo Int’l, XMH Hldgs) – 23/12/14
AEI Corporation has entered into a placement agreement with Well Global Investments (Singapore), who has agreed to subscribe to 20 million new shares of AEI Corporation at $0.13 per share. The estimated net proceeds from the exercise will amount to approximately $2.6 million, which will be used to finance its investment opportunities or acquisitions of other businesses synergistic to its operations.
Centurion Corporation and Lian Beng Group have been selected by an entity representing Association of Process Industry to jointly develop a 7,900-bed workers accommodation and training centre in Jalan Papan, Singapore. The development will be held through Centurion-Lian Beng (Papan), a 51-49 percent joint venture between Centurion and Lian Beng respectively.
Koyo International announced that its wholly owned subsidiary Koyo Engineering (S.E.Asia) has been awarded a $2.5 million contract to provide two years of maintenance for the mechanical and electrical systems at One Raffles Place. The contract commences on 1 January 2015, and is renewable for one year after the contract period.
Ramba Energy has agreed through a binding letter of offer with Risco Energy Investments Holding for Risco to acquire a 25 percent direct working interest in the Lemang oil and gas productions. Negotiations are ongoing, however if not completed by 31 January 2015, Ramba is entitled thereafter to approach another party for the proposed sale.
Semiconductor Manufacturing International Corporation’s subsidiary SilTech Shanghai has entered into a co-investment agreement with Jiangsu Changjiang Electronics Technology Co (JCET) and National Integrated Circuit Industry Investment Fund Co, to form an investment consortium to acquire STATS ChipPAC for US$780 million. On the same date, SilTech Shanghai, JCET and Xinchao Group entered into an investment exit agreement, granting SilTech Shanghai the option to sell shares acquired in connection to the co-investment agreement.
XMH Holdings has released financial results for 1H15, showing a 7.1 percent fall in revenue to $45 million in effect of a decrease in sales from the distribution segment. Gross profit margin rose by 3.6 percentage points to 27.5 percent because of an overall increase in gross profit margin throughout all business segments. Despite an increase in operating expenses due to the inclusion of MPG Group, the company was still able to generate an operating profit. The company recorded a net profit of $2.1 million, which fell by 54.9 percent comparing to the previous year’s figure.
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