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Headliners (Loyz Energy, DBS Group , Wee Hur Holdings, Global Logistics Properties)
Headliners | 02 December 2011
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By: Jade Lee
Articles (97) Profile

Loyz Looks To Australasia For E&P Expansion
Loyz Energy (Loyz) has set eyes on Australasia to expand its exploration and production business, this came as plans were made known to acquire stakes in two petroleum exploration permits. In the first acquisition, Loyz will take an initial 20%-stake in a petroleum exploration permit owned by Trident Energy for A$0.65m. The companies will undertake exploration activities off the coast of Victoria in Australia, after the interpretation of 3D seismic data, Loyz’s stake could rise to 70% upon approval from the Australian authorities. For the second deal, Loyz is in negotiation to acquire an interest in a permit to explore oil and gas reserves in the Taranaki Basin off New Zealand’s North Island. These latest acquisitions are Loyz’s efforts to grow its concession portfolio beyond India as well as to become a regional upstream player. Notably, it has earlier entered agreement with Rex Oil & Gas to gain proprietary technologies to reduce exploration risks and costs.

DBS Ventures Into Supplier Financing Business
In the current economic climate, DBS Group is eyeing to grab a share of the supplier financing pie as it begins supporting Dairy Farm’s supply chain. The bank said that it is about to launch similar supply chain financing programmes in China, Hong Kong, Indonesia, India and Taiwan. The financing programmes will support DBS’s customers by increasing their cash flow and reducing operational expenses. The bank plans to aggressively grow this business segment by offering its solutions to suppliers and distributors across the region. Tom MaCabe, group head of global transaction services in DBS mentioned that DBS’s large client base of more than 100,000 businesses, big and small, “provides a huge opportunity for us to expand distribution of this new programme in the immediate future”. At present, DBS hopes to broaden the scope of its cooperation with Dairy Farm in other countries.

Wee Hur Secures HDB Contract Worth $159.3m
Wee Hur Holdings (Wee Hur) has been awarded a $159.3m public housing building contract from the HDB. The contract entails the construction of eight residential blocks, a basement car park and communal facilities such as pavilions, playgrounds, fitness stations and multi-purpose courts at Sengkang Neighbourhood 4. Wee Hur executive chairman, Goh Yeow Lian said that the group was pleased to have secured its third HDB project in the current work year. As at 30 Sep, the group’s construction business had around $363.7m worth of contracts with completion dates ranging from FY11 to FY14. With the HDB ramping up flat supply, construction companies such as Wee Hur will have more opportunities to tender for public housing building projects. The contract win by Wee Hur will further strengthen the group’s order book as it closes the financial year.

Strong Demand For GLP Bonds
Global Logistics Properties’ (GLP) benchmark perpetual bond sale is seeing strong demand due to an unexpectedly high coupon indication. On the morning of 29 Nov, investors were informed that GLP’s first perpetual bond sale had an initial coupon guidance of 5.5% to 5.7%. A Business Times source was quoted as saying that the high price guidance is to do with GLP’s credit rating of BBB+. However, the pricing still remains unexpected as some bankers had expected a lower yield since GLP counts Singapore sovereign wealth fund, GIC, as a major shareholder. The warehouse provider kicked off its sale on 29 Nov in Singapore following two days of road shows which end with one more in Hong Kong on 30 Nov. According to the GLP term sheet, it has a call option every five years which allows it to call at 101% before Apr-17 or at 100% thereafter. The bonds are currently being sold at $250,000 a pop.

Jade manages and oversees a portfolio of stocks which are mainly focused on the mining and property sectors at Shares Investment.

Please click here for more information about this author.

CWX Global  -- -- --   
Business: Co is a S'pore grown oil & gas, exploration & production co.

Insight: Aug-18, 4Q18 revenue increased by 16% due to the i... Read More
Wee Hur Hldgs  -- -- --   
Business: Engages in the development of real estate projects. [FY17 Turnover] Building construction (74.3%), investment property (25.7%)

Insight: Aug-18, 1H18 revenue tripled to $214.4m as a resul... Read More
DBS Group Hldgs  25.000 +0.10 +0.40%   
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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