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Headliners (OrchardP, Maxi-Cash, Boustead Sp, Olam)
Headliners | 22 June 2012
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By: Jade Lee
Articles (97) Profile

Orchard Parade To List Hospitality Assets Into Trust
Orchard Parade Holdings (OPH) has proposed injecting its three hospitality assets into a hospitality trust which will be listed on the Singapore Exchange. OPH intends to inject Orchard Parade Hotel, Albert Court Village Hotel and Central Square Village Residences in its proposed Far East Hospitality Trust. The total consideration for the injection is expected to be at least $702m. At the same time, OPH intends to acquire the hospitality management business of Far East Organization and selected healthcare properties. These include the acquisition of 45 units of medical suites in Novena Medical Centre, 48 units of medical suites in Novena Specialist Centre. In connection with the proposed restructuring, OPH has also proposed a special dividend and dividend in specie to its shareholders.

Maxi-Cash To Seek Catalist Listing
Pawnbroker Maxi-Cash Financial Services Corporation is seeking to be the first pawnbroker to seek an initial public offering (IPO) in Singapore. The launch of its IPO will offer 56m new shares at $0.30 apiece. Maxi-Cash is a subsidiary of mainboard-listed jewellery retailer and property developer, Aspial Corporation. Aspial will continue to be Maxi-Cash’s controlling shareholder with 81.1% of the shares. Maxi-Cash anticipates reaping in net proceeds of around $15.1m from the IPO. The firm intends to use the funds to help with business growth and to create brand recognition and trust. Koh Wee Seng, chairman of Maxi-Cash said that loan growth has been healthy, with people borrowing to meet household expenses, short-term cashflow problems, and borrowing for education and medical needs. Maxi-Cash also said that it intends to pay 60% of net profit this year as dividend

Boustead’s Order Book Backlog Raised To $351m
Boustead Singapore announced that its subsidiary, Boustead Projects, has been awarded a $14m contract to design and build an integrated food processing and office facility for RE&S Enterprises to be located at the Paya Lebar iPark. The facility will have a gross floor area of approximately 9,650 square metres spread across seven floors and is expected to be completed in calendar year 2Q13. The contract marks the company’s first win in FY13 ending Mar-13. Notably, this facility represents its eighth project the company is undertaking within the Paya Lebar iPark and its fourth project in the food processing industry. The latest contract has also raised Boustead’s order book backlog (as at end of March plus new orders since then) to $351m.

Olam Forms Joint Venture With Blommer
Blommer Chocolate, the largest cocoa processor and ingredient chocolate supplier in North America and commodities trader Olam International, announced the formation of a joint venture, GrowCocoa on a 50:50 basis. GrowCocoa will bolster the cocoa supply chain based on the combined strengths of both partners; in origin sourcing and access to farmer groups, technical chocolate product manufacturing expertise and established retail customer relationships. The joint venture also aims to improve the livelihoods of cocoa communities, encourage long-term commitment and investment in a sustainable supply chain and develop strategic partnerships with governments, national institutions, relevant non-governmental organisations and funding partners. Olam and Blommer first combined their efforts in a programme in Indonesia in 2004 where cocoa was in decline due to low incomes and increasing problems related to pests and diseases.

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

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Far East Orchard  -- -- --   
Business: Co engages in the investment and development of real estate properties.

Insight: Feb-19, FY18 net profit jumped 51.4% to $32.9m, li... Read More
Maxi-Cash Financial Services Corp  -- -- --   
Business: Pawnbroker. [FY18 Turnover] Retail & trading of jewellery & branded merchandise (75.4%), pawnbroking (20.2%), money lending (4.4%).

Insight: May-19, 1Q19 revenue slid 13.5% due to lower sales... Read More
Boustead Singapore  -- -- --   
Business: A global infrastructure-related engineering services & geo-spatial technology firm. [FY18 Turnover] Real estate solutions (48.8%), geo-spatial technology (28.2%), energy-related engineering (23%).

Insight: Feb-19, 9M19 revenue surged 25% as contributions i... Read More
Olam Int'l  -- -- --   
Business: Co is engaged in sourcing, processing, packaging and merchandising agricultural products. [FY18 Turnover] Food staples & packaged foods (47.6%), confectionery & beverage ingredients (23.4%), industrial raw materials, infrastructure & logistics (14.9%), edible nuts & spices (14.1%).

Insight: May-19, 1Q19 revenue rose 16.7% due to increased t... Read More

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