Tat Hong Establishes Subsidiary in China
Tat Hong Holdings Limited Friday announced that its indirect 75-per cent owned subsidiary, Tat Hong Zhaomao Investment Co Ltd, has incorporated a wholly-owned company – Tat Hong Zhiyuan (Jiangsu) Equipment Rental Co Ltd (THZY), in Jintan City, China.
THZY was incorporated with a registered capital of US$2.0 million (S$2.5 million) and a paid up share capital US$300,000.
Its primary business activity will be the rental of tower cranes to the building construction and infrastructure sectors in China.
Tat Hong Holdings Limited closed Friday at S$1.025.
Tiger Airways Appoints New Group CEO
Tiger Airways Holdings Limited Friday appointed Koay Peng Yen as Group Chief Executive Officer (CEO) with effect from 10 August 2012. He will take over from Chin Yau Seng who will be returning to Singapore Airlines.
Koay Peng Yen was Executive Director of Pacific Carriers Limited and PaxOcean Engineering Group, Kuok Group companies, involved in the marine and offshore engineering, offshore services, and shipping industries.
Prior to this, he was the Group CEO of IMC Corp Limited, an industrial and supply chain group.
He earlier spent 18 years with the NOL Group in various senior management roles, including as President of Greater China.
“We welcome Peng Yen to the Tiger team,” said Tiger Chairman J Y Pillay, “Notwithstanding that he is entering the airline industry for the first time, the Board assesses that his proven leadership and strategic skills, capacity for incisive thinking and facility for building cohesive teams are able to propel the Group to greater and sustainable heights.”
Tiger Airways Holdings Limited Friday closed at S$0.705
LionGold Corp Inks Agreements with Australia’s Bass Metals
LionGold Corp Limited Friday announced that it has entered into two agreements with ASX-listed Bass Metals Limited (BSM).
The first agreement is a share purchase agreement under which LionGold proposes to acquire 100 per cent of Hellyer Mill Operations Pty Ltd from BSM for A$13.5 million (S$17.55 million) in cash.
Hellyer Mill owns the Hellyer tailings dam which has JORC-compliant measured, indicated and inferred resources of 796,000 ounces of gold, and 31,859,000 ounces of silver.
The second agreement is to subscribe for 58,000,000 new BSM shares representing 16.5 per cent of the enlarged capital at a subscription price of A$0.01 per share (S$0.013 per share) for a cash consideration of A$580,000. This represents a 50 per cent discount to the volume weighted average price of BSM shares prior to their trading halt.
LionGold Corp Limited closed Friday at S$1.265.
CapitaLand Injects Fresh Capital into Chongqing Land
CapitaLand Limited Friday announced that its 51.7-per cent owned subsidiary, Chongqing CapitaLand Guyu Xiongguan Real Estate Co Ltd, has increased its registered capital from S$377.0 million to S$657.0 million.
The capital increase is by way of cash injection of S$280.0 million by Chongqing CapitaLand’ sole shareholder, CMA China Investment 1 Pte Ltd, a wholly-owned subsidiary of CTM Property Trust, which is a joint venture between CapitaLand (31.25 per cent), CapitaMalls Asia Limited (31.25 per cent) and Singbridge Holdings Pte Ltd (37.50 per cent), a wholly-owned subsidiary of Temasek Holdings (Private) Limited
CapitaLand has an interest of approximately 65.44 per cent in CMA.
Chongqing CapitaLand is the project company for a prime site in Chongqing, China, which will be developed into a landmark mixed development comprising a shopping mall and eight towers for residential, office and hotel/serviced apartment use.
The additional capital will be used for land payment and working capital requirements of Chongqing CapitaLand.
CapitaLand Limited Friday closed at S$2.98