Stocks In Focus SG (Singapura Finance, Singapore Shipping, Starburst Hldgs) – 09/09/14

Singapura Finance proposed a right issue of 79.3 million shares at $1 per share to strengthen its capital base, and allow the company to be better positioned to take advantage of opportunities for business growth. In addition, based on the proposed number of rights, four parties are expected to participate in these rights issue through the subscription of 52.3 percent of these rights.

Singapore Shipping Corporation purchased a new build Pure Car Truck Carrier for US$80 million. Upon delivery, the vessel is expected to be deployed on a long-term charter to a major shipping company.

Starburst Holdings have been awarded a contract worth $3.2 million for the maintenance of certain firearm shooting ranges in Southeast Asia. Under the contract, the group will provide comprehensive services for the maintenance of ballistic protection system of these firearm shooting ranges (which were previously completed by the group in 2012) for a period of three years up to July 2017.

Swiber Holdings intends to issue Rmb450 million worth of fixed rate notes, yielding 7.75 percent per annum and mature in 2017. The notes will be issued under the $1 billion multicurrency debt issuance programme established by the company. The net proceeds generated from the notes issued will be used to finance the general working capital, capital expenditure requirements and the refinancing of existing borrowings of the company.

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