C&G Secures First Waste-To-Energy Project in Bangkok
C&G Environmental Protection Holdings Limited Friday announced that it has secured a Build-Operate-Transfer (BOT) agreement with the Bangkok Metropolitan Administration to construct a waste-to-energy (WTE) project in Nong Khaem in Bangkok, Thailand.
The project – C&G’s first outside of China – marks the company’s expansion into a major Southeast Asian market and further entrenches its position as an environmental player in the region.
The Bangkok Project is designed with a waste processing capacity of 500 tonnes per day, and is expected to process up to 182,500 tonnes of waste per annum and has an installed turbine and electricity generation capacity of 9.8 megawatts.
With a concessionary period of BOT for 20 years, the total investment of the project is approximately THB900 million (S$35.9 million).
Construction of the project is expected to be completed in 2014.
C&G Environmental Protection Holdings Limited closed Friday at S$0.119.
Jaya Secures US$84-million Worth of Contracts
Jaya Holdings Limited Friday announced that it has, through its wholly-owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd, secured ship building contracts of approximately US$84.0 million (S$106.5 million) to deliver a 5,150 bhp Anchor Handling Tug and Supply Vessel (AHTSV) and a 16,000 bhp AHTSV.
Venkatraman Sheshashayee, Chief Executive Officer and Executive Director of JAYA commented, “Despite the volatility in the global financial markets, Jaya is pleased to be able to secure new contracts and continue to win charters. This attests to the group’s ability to deliver offshore solutions to the offshore oil and gas exploration and production domain”
Jaya Holdings Limited closed Friday at S$0.575.
Adventus Warns of Net Loss in 1H2012
Adventus Holdings Limited Friday warned that it will likely report net losses for the half year ended 30 June 2012 (1H2012).
The results for 1H2012 have been affected by operating losses, provisions for non-trade receivables, and higher expenses on account of the group’s acquisition efforts.
The adverse market conditions in the advanced materials industry have also had a negative impact on Adventus’ subsidiary, Apphia Advanced Materials Pte Ltd’s financial results, and consequently, the group’s consolidated financial results.
Adventus Holdings Limited closed Friday at S$0.022.
SPH Reports Lower Net Profit in 3QFY2012
Singapore Press Holdings (SPH) reported Friday a 13.1-per cent decline in net profit for the third quarter ended May 31, dragged down mainly by lower net income from investments.
Net profit for the three-month period stood at S$99.8 million, against a net profit of S$115.0 million a year ago.
Operating revenue for the quarter was up 0.9 per cent to S$332.0 million, with higher revenue in the property division offsetting the slip in revenue in the newspaper and magazine business.
Net income from investments 3QFY2012 fell 59.9 per cent over the year to S$9.5 million.
Alan Chan, Chief Executive Officer of SPH commented: “In view of the turbulent financial market conditions, the Group has adopted a more conservative portfolio asset allocation and returns are expected to be commensurate with this lower risk profile.”
Singapore Press Holdings Limited closed Friday at S$4.020.
Keppel Land Forays into Sri Lanka
Keppel Land Limited Friday announced that it has entered into a conditional joint venture agreement with CT Properties Ltd, a property developer in Sri Lanka, to develop about 260 high-end condominium residences on a 1.25-acre (about 0.5-ha) prime site in Colombo, the commercial capital of Sri Lanka.
Keppel Land and CT Properties will hold 60:40 equity respectively in the joint venture company. The total development cost for the project is estimated to be about S$70 million (about US$55.2 million).
“Our first foray into Sri Lanka is strategic and timely given the country’s positive growth as well as with growing affluence amongst its population. The improved political and economic conditions also bode well for the country as it looks to attract more foreign direct investments,” said Kevin Wong, Group CEO of Keppel Land.
Keppel Land Limited closed Friday at S$3.370.
Hotel Grand Central Awards S$101-million Contract to Sato Kogyo to Redevelop Hotel
Hotel Grand Central Limited announced Friday that it has awarded a S$101.38 million contract to Sato Kogyo (S) for the redevelopment of an existing hotel at 22 Cavenagh Road.
The contract is for the demolition of the ageing hotel, piling work and construction of two new 10-storey hotels, which will house about 750 rooms collectively.
Work on the property is likely to commence in the third quarter this year and will take about two and a half years to complete.
Hotel Grand Central said the total cost of the redevelopment will cost around S$130.0 million. This will be financed via bank borrowings and internal funds.
Hotel Grand Central Limited closed Friday at S$0.82.