Sino-Forest Acquires New Zealand Plantation Sino-Forest Corporation, a leading commercial forest planta- tion operator in China, announced the acquisition of a New Zealand plantation through its subsidiary, Omnicorp Limited. Under the acquisition agreement, Sino-Forest will transfer newly acquired shares of MFV Limited (“MVFL”) to Omnicorp or its designated subsidiary. The acquisition is not considered material...

MTQ Posts S$5.4 million Net Profit in 1HFY2011 Mainboard-listed MTQ Corporation Limited, a regional engi- neering specialist in the fabrication, repair and maintenance of oilfield equipment, reported a net profit attributable to share- holders of S$5.4 million for the six months ending 30 Septem- ber 2010 (1HFY2011). The latest bottom line is 25 per cent...

Synear Food 9M2010 Net Profit Falls 14.5 Per cent Synear Food Holdings Limited, one of China’s leading quick freeze food producers, reported that its net profit for the nine months ending 30 September 2010 (9M2010) fell 14.5 per cent year-on-year to RMB110.1 million (approximately S$21.22 million). The Group’s revenue rose by just 1.3 per cent...

Europtronic Group Reports Turnaround in 3Q2010 Europtronic Group’s revenue registered S$35.0 million in 3Q2010, up S$13.5 million from the same period last year. The Group attributed the increase to a rise in orders from the distribution and manufacturing units. Finance costs decreased by 8.5 per cent due to lower interest rates and early repayment of...

IndoAgri 3Q2010 Net Profit Up 13.3 Per cent Quarter-on-quarter IndoFood Agri Resources Limited (IndoAgri), an integrated agribusiness group and manufacturer of leading brands of edible oils and fats in Indonesia, has announced a consoli- dated net profit of Rp360 billion (approximately S$55 million) for 3Q2010 (ending September 30), 13.3 per cent higher quarter-on-quarter. The Group’s...

CapitaLand Signs Agreement for its Fifth Residential Project in Vietnam CapitaLand Ltd, through its indirect subsidiary, CVH Cayman 10 Limited, held through another wholly-owned subsidiary, CapitaLand (Vietnam) Holdings, has signed a Conditional Joint Venture Agreement with No Va Land Investment Group Corporation (NovaLand), a leading real estate developer in Vietnam, to jointly develop a residential...

Yongnam Wins Contracts for MRT Downtown Line 2 Yongnam Holdings Limited announced that it has been awarded its third and fourth contracts for MRT Downtown Line 2 (DTL 2) valued at S$56.5 million. The structural steel contractor and specialist civil engineering solutions provider announced its second contract win last month, for DTL 2, valued at...

Yangzijiang Shipbuilding 3Q2010 Net Profit Rises 32 Per cent Yangzijiang Shipbuilding (Holdings) Ltd, one of China’s lead- ing shipbuilders, announced a 32 per cent jump in net profit attributable to equity holders in the three months ending September (3Q2010) as the Group executed contracts secured prior to the financial crisis. Net profit for the period...

Mercator Acquires Japanese Vessel for US$22 million Mercator Lines (Singapore) Limited announced that it has entered into a Memorandum of Agreement for the purchase of a Japanese gearless Panamax dry bulk carrier for about US$22 million (about S$28.5 million). The vessel was built in 1994 by Imabari Shipbuilding Corpora- tion Limited in Japan. With a...

First REIT 3Q2010 Distributable Income Up 2.5 Per cent Bowsprit Capital Corporation Limited, manager of First Real Estate Investment Trust (First REIT), reported continued growth in distributable income for the third quarter ending 30 September 2010 (3Q2010). Distributable income rose 2.5 per cent year-on-year to S$5.4 million, translating to a 2.1 per cent jump in...

TEE International Signs Letter of Acceptance for BN$147.5 million Brunei Housing Contract After being selected by the Brunei Economic Development Board for a BN$147.5 million (about S$145.2 million) housing contract, TEE International Limited on Thursday announced it has signed the Letter of Acceptance after reviewing and finalising detailed terms and conditions of the relevant tender....

Marco Polo Marine Bags Six Shipbuilding Contracts worth S$8.3 million PT Marcopolo Shipyard, a wholly-owned subsidiary of integrated marine logistic group Marco Polo Marine Ltd, has inked six vessel building contracts with an Indonesia entity to build six units of barges at an aggregate contract value of S$8.3 million. Sean Lee, the CEO of Marco...