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Tiger Airways Posts 5-per cent Passenger Growth in May

Tiger Airways Holdings Limited said Monday that it carried 339,000 passengers in May, up 5 per cent from the previous year.

The average load factor was 82 per cent, a decrease of 4 percentage points from last year.

For the 12 months to May 2012, Tiger Airways carried 3.9 million passengers, an improvement of 32 per cent year-on-year while load factor fell 6 percentage points to 80 per cent.

Meanwhile, Tiger Airways Australia carried 112,000 passengers, down 55 per cent from May 2011 as the unit operated at a reduced capacity and on a limited schedule.

Tiger Airways Australia said it is steadily growing capacity and expects to ramp up to pre-suspension levels of 64 sectors daily by the second half of 2012. Sydney, its second Australian base, will start operations in July 2012.

For the 12 months to May 2012, Tiger Airways Australia carried 1.2 million passengers, a decrease of 61 per cent compared to the preceding 12-month period.

This was primarily due to the six-week suspension of Tiger Airways Australia’s services in mid-2011, and the subsequent under-utilisation of its fleet.

Tiger Airways Holdings Limited closed Monday at S$0.645.

Dukang Distillers Signs Up 20 New Distributors

Dukang Distillers Holdings Limited, the producer of white liquor (baijiu), announced Monday that it has signed 20 new distributors following its third Annual National Trade Fair in Luoyang city, Henan province, China.

As such, the total number of distributors for the group’s Dukang brand has grown to 222 currently from 202 in March.

Dukang said the one-day event, hosted on May 18, received “overwhelming response” with 2,000 participants consisting of distributors and downstream retailers from the province and the rest of China, as well as local government ministers and alcohol associations.

Dukang Distillers Holdings Limited closed Monday at S$0.250.


Sunpower Clinches S$9.44-million Flare Contract

Sunpower Group Limited announced Monday that it has clinched an RMB46.8-million (S$9.44 million) contract to supply flare systems and provide accompanying services to China’s first coal-gas-oil integrated utility project.

This contract was secured by the group’s wholly-owned subsidiary, Jiangsu Sunpower Technology Co Ltd from Hualu Engineering & Technology Co Ltd. The products and services for this contract will be delivered in 2013 and will have a positive impact on FY2013 results.

This contract is for the start-up project of the Jingbian Energy and Chemical Integrated

Utilization located at Jingbian county, Shaanxi province. Fully completed, this integrated energy and chemical base will boast an annual production value of over RMB100.0 billion.

Sunpower Group Limited Monday closed at S$0.205.


Berger International Settles Suit

Berger International Limited announced Monday that it has settled a claim commenced against Berger Paints Singapore Pte Ltd, a subsidiary of the company, in the High Court of the Republic of Singapore by a customer who purchased paint products.

The company and the customer have reached a full and final settlement in relation to the claim. Pursuant to the terms of the settlement, the company shall pay the customer the sum of S$850,000, following which both parties agree to unconditionally and absolutely discharge and release each other from any and all debts, claims and demands.

Berger International Limited Monday closed at S$0.147


OKP Holdings Secures PUB Contract

OKP Holdings Limited announced Monday that it has clinched a S$5.3 million contract from PUB to improve the drains around the Sunset Drive, Clementi Avenues and Tiong Bahru Road areas.

The contract was clinched by its subsidiary Eng Lam Contractors Co (Pte) Ltd.

Work for the roadside drain improvement contract is scheduled to start on 18 June 2012 and is targeted to be completed around September 2013.

The scope of works includes the construction of varying lengths of drains as well as box culverts in the various areas under improvement and to raise the existing road levels including reconstruction of road furniture.

The win marks the fourth public sector contract secured this year by the company.

OKP Holdings Limited Monday closed at S$0.535.