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Transpac Issues 53,166 New Shares at S$0.71 each

Transpac Industrial Holdings Limited Friday announced the issue and allotment of an aggregate of 53,166 ordinary shares in the capital of the company, at the subscription price of S$0.71 each, pursuant to the exercise of 53,166 Series B Warrants.

These new shares are listed and quoted on the Singapore Exchange Securities Trading Limited on 27 April 2012.

With this, the total number of issued and paid-up shares in the capital of the company is 175,470,960.

Transpac said the new shares issued rank pari passu in all respects with the existing shares of the company.

Transpac Industrial Holdings Limited closed Friday at S$1.950.

 

World Precision Machinery 1Q2012 Net Profit Down 12.2 Per cent

Mainboard-listed World Precision Machinery Limited, a manufacturer of precision stamping equipment in China, recorded an 11.7-per cent quarter-on-quarter growth in net profit to RMB40.6 million (about S$8.0 million) for the three months ending 31 March 2012 (1Q2012).

Revenue increased 2 per cent from the previous quarter to RMB242.9 million.

On a year-on-year basis however, net profit was down by 12.2 per cent, while revenue slipped 17.3 per cent in 1Q2012.

The group noted that its sales volume of both conventional and high-performance, high-tonnage stamping machines had been declining for two consecutive quarters in 3Q2011 and 4Q2011, due to the tightening of the Chinese government’s monetary policy in early 2011 to ease inflation, which led to a slowdown in capital expenditures in 2H2011.

However, as the Chinese government cuts its bank reserve requirements twice to 20.5 per cent in February 2012 from 21.5 per cent in December 2011, the capital expenditure for manufacturing activities improved gradually. This has translated into improved sales volume of the group’s conventional and high-performance, high-tonnage stamping machines for 1Q2012 compared with 4Q2011.

The group’s orderbook also improved to RMB220.5 million as of 25 April 2012, compared with RMB200 million two months ago.

Shao Jian Jun, Chief Executive Officer, said: “The macro environment has become increasingly favourable for expenditure on capital goods and machinery, with the central bank injecting more liquidity into the Chinese economy.”

“Aside from macroeconomic improvements, we always endeavor to grow our client base and strengthen the cutting-edge in technology,” he added.

World Precision Machinery Limited closed Friday at S$0.535.

 

SingTel Divests Entire Stake in Far EasTone

Singapore Telecommunications Limited (SingTel) Friday announced that it has divested its entire 3.98-per cent equity interest in Taiwan’s Far EasTone Telecommunications Co, Ltd.

A total of 129,571,696 shares were sold at an average price of NT$62.00 per share, for a cash consideration of approximately NT$8.03 billion or S$339 million. The transaction was by way of an on-market sale.

SingTel said it will recognise a gain of approximately S$118 million in its first quarter ending 30 June 2012.

Singapore Telecommunications Limited closed Friday at S$3.100.

info.singtel.com

 

Ryobi Kiso Unit Increases Issued Share Capital

Ryobi Kiso Holdings Ltd Friday announced that its wholly-owned subsidiary, Ryobi Plant Engineering Pte Ltd, has increased its issued share capital from 100,000 shares to 125,000 shares via the subscription of 25,000 new shares in its issued share capital by Mr Chiang Khoon Heong for a total subscription price of S$25,000.

Following the issuance and allotment of the subscription shares to Chiang, the shareholding proportion of Ryobi Plant Engineering’s shareholders, being Ryobi Machinery Pte Ltd and Chiang, is 80 per cent and 20 per cent respectively of the issued share capital of Ryobi Plant Engineering. Both parties have further agreed to increase the issued share capital to 500,000 shares within three months from 26 April 2012 in accordance with their abovementioned respective shareholding proportions.

Ryobi Plant Engineering was incorporated to carry out the business of structural and mechanical engineering works.

Ryobi Kiso said Chiang has more than 20 years of experience in this business, and it believes that his involvement in Ryobi Plant Engineering will enable the company to leverage on his expertise and experience.

www.ryobi-kiso.com

 

 

GLP Incorporates New Indirect Wholly-owned Subsidiaries in China

Global Logistic Properties Limited (GLP) Friday announced the incorporation of new indirect wholly-owned subsidiaries in China.

They are GLP Yangzhou Economic Development Zone Logistics Facilities Co, Ltd; GLP Zhongshan Puxi Logistics Facilities Co, Ltd; GLP Zhengzhou ILZ Logistics Facilities Co, Ltd; GLP (Changchun) Logistics Facilities Co, Ltd; and GLP Changsha Jinzhou Logistics Facilities Co, Ltd.

GLP Yangzhou was incorporated on 6 March 2012 with a registered capital of US$40 million.

GLP Zhongshan was incorporated on 7 March 2012 with a registered capital of US$14.5 million.

GLP Zhengzhou was incorporated on 1 March 2012 with a registered capital of US$33.5 million.

GLP (Changchun) was incorporated on 20 March 2012 with a registered capital of US$9.7 million.

GLP Changsha was incorporated on 27 February 2012 with a registered capital of RMB200 million (about US$31.7 million).

The principal activity of all five subsidiaries is the provision of distribution facilities and services.

Global Logistic Properties Limited also announced that China Logistics Holding (1) Pte Ltd (CLH1), an indirect wholly-owned subsidiary of the company, on 26 March 2012, acquired an additional 2,633,454 shares in Vailog Hong Kong DC6 Limited (Vailog DC6) for a cash consideration of US$925,821 pursuant to a share sale and purchase agreement entered into between CLH1 and an unrelated third party.

Following the acquisition, GLP’s shareholding interest in Vailog DC6 has increased from 90 per cent to 100 per cent held through CLH1, and Vailog DC6 has become an indirect wholly-owned subsidiary of the company.

Meanwhile, China Logistics Holding (27) Pte Ltd, an indirect wholly-owned subsidiary of the company, on 8 March 2012 through its wholly-owned subsidiary, Shimmer Profits Limited (SPL), acquired an additional 1-per cent interest in Shanghai Yupei Group Co, Ltd (SYG) for a cash consideration of US$2 million pursuant to a share sale and purchase agreement entered into between SPL and an unrelated third party.

Following the acquisition, GLP’s shareholding interest in SYG has increased from 49 per cent to 50 per cent, and SYG remains an indirect jointly-controlled entity of the company.

Also, China Logistics Holding (27) Pte Ltd on 14 March 2012, through its wholly-owned subsidiary, Shimmer Profits Limited, acquired an additional 49.583-per cent interest in Shanghai Yuhang Anting Logistics Co, Ltd (SYA) for a cash consideration of RMB1,531,720,000.

Following the acquisition, GLP’s shareholding interest in SYA has increased from 50 per cent to 85 per cent. Hence, SYA has ceased to be a jointly-controlled entity and has become an indirect subsidiary of the company.

Global Logistic Properties Limited closed Friday at S$2.080.

www.glprop.com

 

Samudera Acquires Remaining 40-per cent Equity Interest in Galaxy Shipping Services

Samudera Shipping Line Ltd announced that it has entered into a sale and purchase agreement on 27 April 2012 with Jardine Shipping Services Holdings Limited, a company incorporated in the British Virgin Islands, to acquire the remaining 40-per cent equity interest in Galaxy Shipping Services Sdn Bhd, representing 400,000 ordinary shares of RM1.00 each, for a cash consideration of RM495,000 (about US$162,000).

Incorporated in Malaysia, Galaxy is a 60-per cent-held subsidiary of the company. Upon the completion of the acquisition, Galaxy will be wholly-owned by the company.

Mr Asmari Herry Prayitno and Mr Anwarsyah, who are the executive directors of the company, are also the directors of Galaxy.

Samudera said the acquisition is funded through internal resources and not expected to have any material impact on its consolidated net tangible assets and earnings per share for the current financial year.

Samudera Shipping Line Ltd closed Friday at S$0.159.

www1.samudera.com/ssl