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Headliners (VDH Energy, SembMar, MapletreeLog, SeeHS)
Headliners | 16 March 2012
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By: Andy Chor
Articles (7) Profile

Van Der Horst Sells 51% Of GKE To LD Commodities

Van Der Horst Energy (VDHE) has inked an agreement with LD Commodities Metals Asia, to sell a 51% stake in its wholly owned subsidiary GKE Metal Logistics for $8m. According to its filing, the subsidiary engages in metal logistics services in Singapore and Shanghai and is a warehouse operator approved by the London Metal Exchange (LME) to take custody of non-ferrous metals traded on the LME. In addition, GKE has a 65% owned subsidiary in China, GKE (Shanghai) Metal Logistics, which principally operates in the business of storage, freight forwarding, warehousing, packing, removal, and delivery services. VDHE considers LD Commodities to be a strategic partner that can enhance its metal logistics business. Specifically, LD Commodities’ presence in refined metals in Asia will complement GKE’s existing logistics operations in Singapore and Shanghai. It also hopes that GKE’s domestic activities in China will be accelerated under the partnership.

Sembcorp Marine Rides On Subsea Demand

Sembcorp Marine’s subsidiary, Jurong Shipyard, has clinched a new contract worth US$385.5m ($484.5m) from Helix Energy Solutions. The contract entails the construction of a semi-submersible well intervention rig which will be scheduled for delivery in January 2015. The rig will feature latest technology to be an efficient purpose designed platform with capabilities to perform a wide range of tasks. It is also Jurong Shipyard’s first specialised platform with well intervention and subsea capabilities, thus representing a significant step in the firm’s bid to grow in this market segment. The rig will have the ability to operate in deepwater operations worldwide, including the Gulf of Mexico, offshore Brazil and West of Africa. The project is expected to yield dividends for the firm in the future.

MLT To Make 17.5b Yen Acquisitions In Japan

MapleTree Logistics Trust (MLT) has entered into separate sale-and-purchase agreements to acquire a portfolio of seven dry warehouse facilities from Goodman Japan for 17.5b yen ($292m). These high quality logistics facilities are located within key logistics hubs across Japan in the Hokkaido, Greater Tokyo, Nagoya and Osaka regions. The facilities are relatively young with a weighted average building age of 4.9 years, and built with modern specifications covering an aggregate gross floor area of 124,300 square metres (sqm). At present, the assets are fully leased to single users who are mainly engaged in the food and consumer product industries. The deal is expected to generate a stabilised weighted average net property income yield (NPI) of about 6.2%, comparing favourably to its existing implied NPI of 5.6%. Upon completion, gross revenue contribution from Japan will increase to 29% from the current 24%.

See Hup Seng Forms JV With GEP Asia To Build $27m Chemical Hub

See Hup Seng is planning to build a $27m integrated chemical hub in Singapore through a joint venture with GEP Asia Holdings. The 13,500 sqm leasehold property at Penjuru Lane, on which the integrated chemical hub is to be situated, is currently own by Easten Tankstore (S). To facilitate the transaction, See Hup Seng had entered into a conditional sale-and-purchase agreement with GEP Asia to acquire a 51% stake in Eastern Tankstore (S) for $4.1m. The present blueprint is to build a four-storey hub with a gross floor area of around 25,450 sqm. The integrated chemical hub will offer two main services: toll blending, which includes chemical blending and filling into drums; and chemical warehousing and logistics. Construction work will begin towards year-end, and the hub is expected to be completed and operational in 2015.

GKE Corp  -- -- --   
Business: Co provides third party logistics services. [FY18 Turnover] Third party logistics (74.6%), infrastructural logistics (25.4%).

Insight: Apr-19, 9M19 revenue rose 17.5% due to higher cont... Read More
Sembcorp Marine  1.200 -0.020 -1.64%   
Business: Co is a leading global marine & offshore engineering group. [FY18 Turnover] rigs & floaters, repairs & upgrades, offshore platforms (98.8%), ship chartering (1%), others activities (0.2%).

Insight: May-19, 1Q19 revenue fell 31.3% to $810.6m due to ... Read More
Mapletree Logistics Trust  1.670 -0.030 -1.76%   
Business: Real Estate Invs Trust. Invs in logistics ppties. [FY19 Geographical] S'pore (36.2%), HK (24.7%), Japan (13.4%), Australia (8.1%), S.Korea (6.3%), China (5.8%), Malaysia (3.8%), Vietnam (1.7%).

Insight: Apr-19, FY19 revenue rose 15% due to higher revenu... Read More
SHS Hldgs  0.167 -- --   
Business: Co provides grit blasting, tank cleaning, painting, ship repair, ship building, & scaffolding services. [FY18 Turnover] Engineering & Construction (52.1%), corrosion prevention (31.7%), solar energy (14.6%), others (1.6%).

Insight: May-19, 1Q19 revenue fell 65.4% to $4.6m due to lo... Read More


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