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Metax Engineering Announces Orderbook of S$80.3 million as at January 1

Metax Engineering Corporation Limited, an environmental engineering company, announced Thursday an orderbook of S$80.3 million as at January 1 this year.

The group said a significant amount of the orderbook comes from its palm oil business sector.

The orderbook also includes projects by Oiltek Nova Bioenergy Sdn Bhd, a joint venture between Oiltek Sdn Bhd, the group’s subsidiary, and Novaviro Technology Sdn Bhd in 2010, to design and build facilities to recover and utilise biogas or methane from palm oil mills.
The orders secured by Oiltek Nova also mark the group’s foray into the renewable energy business.

Metax Engineering Corporation Limited closed Thursday at S$0.065.


Raffles Education to Sell Hebei Properties for RMB1 billion

Raffles Education Corporation Limited announced Thursday that its subsidiary, Hebei Oriental Zhuyun Property Development Co, has agreed to sell the land use rights related to four land parcels and some properties in Langfang Development Zone in Hubei, China.

The properties will be sold to Langfang Fenghe International Golf Club Co Ltd for RMB1.0 billion (S$197.94 million).

Raffles Education Corporation Limited closed Thursday at S$0.480.


UOB to Issue US$500-million Five-year Fixed Rate Senior Notes

United Overseas Bank Limited (UOB) announced Thursday it plans to issue 2.25-per cent fixed rate senior notes with a size of US$500.0 million due 2017.

UOB, Australia and New Zealand Banking Group Limited, Credit Suisse (Singapore) Limited and Nomura Singapore Limited have been appointed as joint lead managers and joint bookrunners, while CIMB Bank Ltd has been appointed as co-manager, for the notes.

United Overseas Bank Limited closed Thursday at S$18.060.


Sound Global Units Set Up Project Management Company

Sound Global Limited announced Thursday that two of its wholly-owned subsidiaries have jointly incorporated a new project management company with a registered capital of RMB30.0 million (S$5.93 million).

The new subsidiary, Anshan Tianqing Water Co Ltd, was incorporated on February 17 and is 80-per cent owned by Beijing Sound Environmental Engineering Co Ltd, while Beijing Epure International Water Co Ltd owns the remaining 20 per cent.

Sound Global said the new company was incorporated in relation to the build, operate and transfer project at Dagushan in Anshan city, China’s Liaoning province.

Sound Global Limited closed Thursday at S$0.600.


Midas’s JV Company Clinches RMB526.9-million China Metro Contract

Midas Holdings Limited announced Thursday that Suzhou Rail Transit Line 2 Co Ltd has awarded a metro contract worth RMB526.9 million (S$104.3 million) to its joint venture company, Nanjing SR Puzhen Rail Transport Co Ltd (NPRT), for the supply of metro train sets to the Suzhou Metro Line 2 Project.

Under the terms of the contract, NPRT will supply 23 train sets, or 115 train cars, with delivery expected to take place from 2013 to 2014.

The group said the recent contract is expected to contribute positively to its financial performance for the financial years ending 2013 and 2014.

Midas has a 32.5-per cent equity stake in NPRT, a Sino-foreign joint venture engaged in the development, manufacture and sale of metro trains, bogies and their related parts.

Midas Holdings Limited closed Thursday at S$0.380.