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Headliners | 08 October 2010
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By: Gilbert Chia
Articles (13) Profile

United Envirotech Acquire Guangzhou Linhai Envirotech Co
Mainboard listed United Envirotech, a leading membrane-based water and wastewater treatment solutions provider, have acquired 60% of its associate company, Guangzhou Linhai Envirotech Co for Rmb23m. The acquisition will give United Envirotech 100% stake in the company. As a fully owned subsidiary of United Envirotech, the Group will own and manage the Membrane Bioreactor (MBR) wastewater treatment plant with a design capacity of 10,000m3/day. The treatment plant is the only discharge point on Xiaohudao island and will serve the tenants in Xiaohudao High Tech Industrial Park. The project will be completed in phases. Phase I of the Nansha plant has been completed with a treatment capacity of 10,000m3/day with a minimum tariff of Rmb8.88/m3. MBR has gained considerable attention over the last 2 decades as the technology improves the discharge quality of water suitable for direct reuse and recycling. Hence, the MBR plant is the only industrial park wastewater treatment plant in China able to achieve the high standard of treated wastewater with chemical oxygen demand of less than 40 mg/l.

Suntec REIT Secures $700m Term Loan Facility
Suntec REIT has successfully entered into a facility agreement for a $700 million term loan facility, comprising a $350 million 3-year loan and a $350 million 5-year loan, at a blended all-in interest margin of 1.5% from a panel of 9 banks. The loan facility will be secured by Suntec City Mall. The facility agreement was signed with 2 local banks DBS Bank and United Overseas Bank, and 7 foreign banks namely Bank of China Limited Singapore Branch, CIMB Bank Berhad Singapore Branch, Citibank N.A. Singapore Branch, Commonwealth Bank of Australia Singapore Branch, Natixis Singapore Branch, The Bank of Nova Scotia Asia Limited and Standard Chartered Bank. The loan facility will be used to prepay the $575 million 3-year loan maturing in FY12, and to refinance part of the $400 million club loan maturing in FY11. With this, the weighted average term to expiry of Suntec REIT’s debt portfolio has been extended from 1.8 years to approximately 3 years.

Tiger Airways Shares Down On Flight Cancellations Woes
Tiger Airways Holdings’ shares plunged as much as 3.9% to $1.96 during the day on 4 Oct-10 before closing at $2.01, down 1.47%. This was after the budget carrier was forced to cancel a number of flights the previous week due to technical issues with 2 of its aircraft. It was reported over the weekend that the flight disruptions affected several hundred passengers, leaving many frustrated. The cancellations were the result of the knock-on effects of 2 aircraft being grounded as they required extended maintenance. According to Tiger Airways, there were no flight cancellations on 4 Oct-10 and provisions have been made for affected passengers with options such as a refund or alternative flights. “Given the tight scheduling and high utilisation of planes for budget carriers, planes that are out of action will have a much more severe impact compared to the full service carriers,” pointed out DMG & Partners in a report on 4 Oct-10.

DBS Private Banking Arm Sees Growth In Top Asian Economies
DBS’s private banking arm sees growth potential in China, Indonesia and India and expects to see 20 to 30% annual growth in net new assets from these countries. DBS, South-East Asia’s biggest lender, is currently expanding as it competes for market share in Asia’s fast growing market for millionaires against its competitors such as UBS and fund boutiques like Swiss wealth manager BSI. “We’re opening 5 to 10 accounts everyday right now in the private bank,” said Tan Su Shan, DBS’s group head of wealth management. “The high delta or the high growth markets right now are clearly in China, Indonesia and India. Those places are our key focus right now,” said Ms Tan. The bank has set up two teams in Singapore, which will focus on high net worth clients from India. DBS is also looking at the possibility of introducing onshore private banking in India, after it had successful expanded its onshore banking services in China. Indonesian clients will also be a part of the bank’s focus, as it seeks to establish itself in the private banking arena. DBS is looking to launch a new fund for its private banking and affluent clients that will look at investment opportunities from rising real income in China.

Suntec REIT  1.890 +0.010 +0.53%   
Business: Real Estate Invs Trust. Ppties incl Suntec Office Towers, Suntec City Mall & Park Mall. [FY18 Turnover] Office (46.8%), Retail (34%), Others (Ad space, car park income , convention & exhibits) (19.2%).

Insight: Jan-19, FY18 gross revenue rose 2.6% to $363.5m du... Read More
DBS Group Hldgs  24.940 -0.11 -0.44%   
Business: [FY18 Total Income] Institutional banking (43.7%), consumer banking/wealth management (42.9%), treasury markets and others (13.4%).

Insight: Apr-19, 1Q19 net profit rose 9% to a record $1.7b.... Read More

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