Username
Password
Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,114.16 -11.98 -0.38%
Hang Seng 26,719.58 -128.91 -0.48%
Dow Jones 26,770.20 -255.68 -0.95%
Shanghai Composite 2,938.14 -39.19 -1.32%
Headliners (GuocoLeisure, Jaya Holdings, Innopac Holdings, AsiaMedic)
Headliners | 14 June 2013
Related stocks:
B16
I26
505
By: Shane Goh
Articles (99) Profile

GuocoLeisure Launches A Major Global Hotel Company, glh.
GuocoLeisure has rebranded a British unit, Guoman Hotel Management (UK) to GLH Hotels Management (UK) referred to as glh., in preparation for launching three new hotel chains around the world. The unit is a major hotel owner and operator in London, with more than 4,000 rooms in the city. In total, it has 36 outlets in Britain, including those under the Thistle brand. glh. will launch a luxury brand in Jul-13, which will have an impact on Singapore. In addition, glh. will unveil a budget brand as well as a four-star brand in 2H13. glh. will offer more flexible terms and conditions to property owners and developers, such as shorter terms of agreements. Chief executive officer of glh., Mike DeNoma stressed that glh. wants to be the first port of call for developers, owners and investors who want a new deal from a hotel management company.

Jaya Seals Second Offshore Deal With Atlantic Towing
Jaya Holdings has reached an agreement to sell a second anchor handling tug supply vessel, Jaya Sovereign, to Atlantic Towing. The vessel, with delivery expected by the end of 2013, was acquired due to the high quality performance of its previously acquired vessel – Jaya Supreme, as well as the on-going demand for higher Ice Class vessels for work in Arctic waters. Both vessels are among the most sophisticated anchor handlers ever built at a Singapore shipyard. A recent licensing of 35m acres of Russian Arctic to a Russian and international joint venture meant drilling was anticipated annually through to 2020 on a seasonal basis, providing huge interest in Arctic Seadrilling, translating to a possible rise in demand for “Jaya Sovereign” type vessels.

Innopac Obtains Shareholders’ Approval For Proposed Acquisition Of Merlin Diamonds
Innopac Holdings’ shareholders have given their consent to the acquisition of Merlin Diamonds, a diamond mining and exploration company listed on the Australian Stock Exchange. The acquisition will be funded through an allotment and issuance of new ordinary Innopac shares to Merlin shareholders. The firm is offering 1.67 new Innopac shares for every 1 Merlin share. As of 10 Jun-13, Innopac’s offer to acquire Merlin has received approximately 65% acceptances from Merlin’s shareholders. Merlin is engaged in exploration for additional sources of diamonds in and around the Merlin Project as well as commencement of commercial production by 2H13. The acquisition will diversify Innopac’s business from telecommunication and property investments to include diamond mining and exploration and become the first and only listed diamond miner on the SGX.

AsiaMedic Signs Heads Of Agreement To Set Up Facilities In 2 Myanmar Hospitals
AsiaMedic entered into a Heads Of Agreement with Five Oceans Service (FOS) to incorporate a joint venture (JV) company in Myanmar to set up a PET/CT scanner in City Hospital and a MRI scanner in Nyein Hospital in Mandalay, Mynamar. The JV will have an initial capital outlay of US$3m, with each party investing the amount corresponding to their respective shareholdings in the JV. AsiaMedic is intending to assume a 49% stake in the JV with FOS holding the balance. From an earlier announcement in Apr-13, AsiaMedic announced that it would provide teleradiology services for City Hospital and Nyein Hospital. AsiaMedic will enjoy the first-mover advantage from its PET/CT service offering in Mandalay. Presently, patients have to go overseas for PET/CT scans, causing both great expense and inconvenience. The setting up of the scanners is expected to be completed by 2H14.

Currently pursuing his Chartered Financial Analyst qualification, Shane provides coverage on the property, consumer and environmental sectors at Shares Investment.

Please click here for more information about this author.

GL  0.775 +0.005 +0.65%   
Business: Co holds a portfolio of hotels, as well as a range of other investments. [FY18 Turnover] Hotels (92.2%), oil & gas (7%), ppty devt (0.8%).

Insight: Apr-19, 9M19 revenue rose 1.9% due to higher reven... Read More
Innopac Hldgs  -- -- --   
Business: Co principally engages in investments of marketable securities, financial instruments and investment properties.

Insight: May-19, 9M19 revenue slid 56.3% due to decreased r... Read More
AsiaMedic  0.014 -- --   
Business: Co provides healthcare, and healthcare consultancy and management services in Singapore.

Insight: Feb-19, FY18 revenue fell by 1% due mainly to lowe... Read More


Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.