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Singapore Daily Bulletin – 30/12/10
Daily Bulletin | 30 December 2010
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Wilmar To Invest Up To Rmb2.63b In Joint Bid For 6 More China Sites
Wilmar International (Wilmar), along with Kerry Properties (Kerry) and Shangri-La Asia planned to enter a joint bid for 6 sites in China’s Liaoning province that could see a total investment of Rmb7.5b. Should the bid be successful, Wilmar will pump in up to Rmb2.63b, based on its shareholding in the JV that will be set up to see the project through. Wilmar will hold a 35% stake in the JV, while Kerry will take up 40%. Shangri-La will have the remaining 25%. Located in Yingkou city, the 6 pieces of land are designated for residential and commercial purposes – which will be granted land use rights of 70 and 40 years respectively. The joint bid followed the trio’s purchase of 3 pieces of land in Liaoning province earlier this month for Rmb240m, with the aim to pump in up to Rmb2.57b for the entire project.

Significance: Following a sell-off in Wilmar’s shares earlier on as investors were concerned about a loss of focus on the company’s core agri-business at a time when margins are under pressure, these latest announcements on Wilmar’s foray into property development may hardly come as a surprise, limiting its downside risk.

Armarda Mulling Potential Investment In Chinese Firm
Armarda Group (Armarda) announced its plans to acquire a company in China, which will help consolidate the existing operations of the company and its subsidiaries in the areas of information technology and communications. The potential deal, said to be synergistic, is likely to require the approval from shareholders and regulators, and additional financing. According to the firm, it expects to start negotiations on the terms and conditions for the potential acquisition within the next couple of weeks and expects to complete the final negotiations on terms and conditions before the Chinese New Year in 2011. Earlier this month, Armarda’s subsidiary, Armarda Holdings, agreed to buy the remaining 25% interest in China RFID that it does not own for HK$25m. China RFID has the exclusive rights to procure and sell radio frequency identification (RFID) chip modules. It is also the sole distributor of RFID chip modules from NXP Semiconductors Hong Kong for a period of 3 years.

Significance: Armarda’s plan to invest in a Chinese company is in line with its strategy to maintain the company’s business momentum by looking for new business opportunities with growth potentials, in view of the impact brought about by the global financial turmoil on the China’s IT industry.

StarHub Clinches Multi-Million Dollar Deal With MBS
StarHub secured a contract from Marina Bay Sands (MBS) to provide telecommunications and entertainment services, that will extend to both MBS Expo and Convention Centre and its luxury hotel rooms and suites. The services will include mobile voice and data services, high-speed broadband and Internet lines. Although the actual value and the period of the deal were not revealed, it was a multi-year, multi-million dollar agreement according to the company. In addition, a range of StarHub pay TV services will be available in all of MBS’ guest rooms, as well as on all public screens around the resort, including the casino area. As part of the agreement, visitors to the resort can also buy a co-branded prepaid mobile SIM card.

Significance: The agreement underscores StarHub’s commitment to offer a suite of business solutions that meet the needs of the hospitality industry. It also shows that StarHub’s pay TV business remains stable despite the absence of the BPL on the programme schedule.

Wilmar Int'l  3.610 -0.02 -0.55%   
Business: Co's integrated agribusiness model encompasses the entire value chain of the agricultural commodity processing biz, from origination and processing to branding, merchandising and distribution of a wide range of agricultural pdts.

Insight: Feb-19, FY18 revenue inched up 2.1% to US$44.5b dr... Read More
Shangri-La Asia  10.860 +0.02 +0.18%   
Business: Co is primarily a hotel property operator.

Insight: Sep-17, Co disclosed under listing rules that the ... Read More
SinoCloud Group  0.001 -- --   
Business: Co provides Internet data centre management services.

Insight: Feb-19, 9M19 revenue fell 22.3% to HK$41m mainly d... Read More
StarHub  1.530 -- --   
Business: [FY18 Turnover] Mobile (34.9%), sale of equipment (22.4%), enterprise fixed (21.6%), pay TV (13.2%), broadband (7.9%).

Insight: Feb-19, FY18 total revenue slipped 2% to $2.4b att... Read More


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