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Headliners (CapitaLand, Otto Marine, TA Corp, Loyz Energy)
Headliners | 05 April 2013
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By: Ong Qiuying
Articles (131) Profile

CapitaLand Restructures Surbana Corp
CapitaLand is restructuring its 40%-owned Surbana Corporation’s residential development and consultancy businesses. It is integrating Surbana Corporation’s residential development business into CapitaLand China. Puah Tze Shyang, CEO of Surbana Land, will continue helming the residential development business as its CEO and will report to Jason Leow, CEO of CapitaLand China. In the last 8 years, Surbana has established itself as a premium residential developer with 5 developments located in Chengdu, Shenyang, Wuxi and Xi’an in China, with a gross floor area of approximately 6m sqm. Geographically, China is one of CapitaLand’s core markets with a portfolio accounting for $13.4b or 39% of the group’s total assets as at end 2012. More importantly, the restructuring of Surbana Corporation gives the residential development and consultancy businesses greater focus to pursue growth, while the integration of the residential development business into CapitaLand China will enable CapitaLand to reap synergistic benefits.

Otto Marine Sells Vessel For US$50m
Otto Marine’s shipyard has, through its subsidiaries, sold a multi-purpose field support and ROV support vessel named “Otto Explorer 3″ to RY Offshore for about US$50m ($62m). Upon completion of the sale, RY Offshore will charter the vessel to the Otto Marine’s unit, Go Marine Group. Otto Marine has received the deposit of US$1m from RY Offshore for the transaction with the balance to be paid upon delivery of the vessel to RY Offshore. RY Offshore is 29%-held by Otto Marine’s chairman and group CEO Yaw Chee Siew. Its remaining interest is owned by unrelated third parties. The aforesaid transactions are expected to contribute positively to Otto Marine’s net tangible assets per shares or earnings per share of the firm for FY13.

Shell Appoints TA Corp As Product Distributor In Myanmar
Property and construction group TA Corporation announced that its 51%-owned subsidiary, Que Holdings, has been appointed by Shell Eastern Petroleum as the distributor of its automotive and industrial lubricants products in Myanmar. Under the terms of the distributorship agreement, Que Holdings will distribute Shell’s products for a 1-year period, with an option to renew for another 2 years upon expiry. This operation is expected to start in the second quarter of 2013. The latest development closely followed TA Corporation’s announcement earlier this year for a strategic 51:49 joint venture with Synergy Resources Group, to pursue business opportunities in the sale and distribution of lubricants in Myanmar. With the local partners’ knowledge and established business networks in Myanmar, together with TA Corporation’s experiences in the lubricants business, TA Corporation believes the joint venture is well positioned to capture market opportunities in the emerging Myanmar market.

Loyz Energy To Grow Into A Sizeable Independent Energy Player
Loyz Energy, said it will be able to expedite its plans to grow into a significant independent player in the upstream energy sector. This came after the company divested its sanitary ware business, which was held under its wholly owned subsidiary Sim Siang Choon Hardware, for $9m in March. This will enable the company to focus all its resources on strengthening its position in the exploration and production segment as a sizeable independent player. Executive director of Loyz Energy, Adrian Lee, said that the company will be drilling its first well in North Dakota in the US, and it will also commence gas production at the Baola field in India. The drilling programme in the US fall under a participation-and-exploration agreement inked in Aug-12 with Rex Oil & Gas and Norway-based Fram Exploration to develop the latter’s leases in North Dakota and Colorado. Loyz Energy expects to see an impact on its revenue and cash flow from 4Q13 onwards.

Qiuying oversees the construction and real estate investment trusts sectors at Shares Investment.

Please click here for more information about this author.

CapitaLand  3.580 -- --   
Business: Co develops, owns, and manages real estate properties. [FY18 Geographical] China (41.2%), S'pore (38.5%), Europe & others (18.6%), Vietnam & Others (1.7%).

Insight: Apr-19, 1Q19 revenue fell 23.8% while net profit d... Read More
TA Corp  -- -- --   
Business: Co is engaged in the construction industry as well as the devt & sale of residential & other types of ppties. [FY17 Turnover] Construction (67.8%), real estate invs (7.3%) real estate devt (13.1%) & distribution & others (11.8%).

Insight: Nov-18, 9M18 revenue fell 41.9% to $92.4m mainly a... Read More
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


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