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Headliners (Enviro-Hub, Yongnam, Auric, Keong Hong)
Headliners | 28 June 2013
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By: Shane Goh
Articles (99) Profile

Enviro-Hub Acquires F2S1 For $164.5m
Enviro-Hub Holdings, through a recently formed joint venture, EH Property & Investments, has moved to purchase F2S1 Investment (F2S1). F2S1 is engaged in the business of investment holding of real estate and real estate-related investments and currently holds the property, PoMo, located along Selegie Road. For illustrative purposes, the final consideration would be $164.5m from an initial consideration of $336m, after deducting the bank liabilities ($165.8m) and the net other asset value ($5.7m) of F2S1. Based on the latest available valuation dated 11 Jan-13, the market value of the unexpired leasehold interest in PoMo is $273m. Enviro-Hub’s existing core business include recycling, recovery and refining of precious metals as well as plastic to fuel refining. The acquisition will place the firm in a better position to achieve long-term sustainable growth across diverse economic conditions.

Yongnam Secures $27m Subcontracts In Hong Kong
Yongnam Holdings’ subsidiary, Yongnam Engineering, has won 2 new specialist civil engineering subcontracts worth HK$166m ($27m) for works in Hong Kong. In the first subcontract, Yongnam will support the main contractor on the Hong Kong Express Link Central-Wan Chai Bypass Tunnel project. The scope of works, expected to be completed in Apr-14, includes approximately 2,000 tons of steel for the construction of temporary steel bridges between the Tunnel’s North Point Section and Island Eastern Corridor Link. In the second subcontract, which is expected to completed by 2016, Yongnam is tasked to design, supply, install and dismantle approximately 10,000 tons of struts at 2 Hong Kong Mass Transit Railway stations for the Shatin to Central Link for the main contractor. Both projects are expected to contribute positively to Yongnam’s financial performance for FY13.

Auric Moves To Acquire Food Junction
Auric Pacific Group has launched a voluntary unconditional cash offer for Food Junction Holdings (FJ) at $0.255 per share. Presently, Auric holds a majority stake of 61.4% and intends to privatise FJ if it obtains a shareholding of 90% or more. Chief executive officer of Auric, Saw Phaik Hwa, said: “By raising our equity interest in FJ through this offer, Auric will have greater control and flexibility to align FJ’s business direction with the group’s 3-pronged growth strategy – to strengthen our marketing and branding capabilities, improve operational efficiencies and expand geographical reach.” At a cash offer of $0.255 per share, it represents a 40.1% premium over its closing price of $0.182 on 20 Jun-13, before it requested for a trading halt.

Keong Hong To Build J Gateway For $161.9m
Keong Hong Holdings’ (KHH) subsidiary, Keong Hong Construction, has secured a contract, worth $161.9m, from MCL Land (Gateway), a subsidiary of MCL Land. KHH was appointed as the main contractor for the private residential development, J Gateway, at Boon Lay Way, Jurong East. With a land area of approximately 11,588 sqm, J Gateway resides within Singapore’s new Central Business District of the West, Jurong Gateway. J Gateway, a 738-unit condominium, will comprise of 2 towers of 20 and 38 storeys of 1 to 4-bedroom units and penthouses, complete with full condominium facilities including sky gardens, infinity swimming pool, jacuzzi pool, clubhouse and gymnasium. As of 24 Jun-13, KHH’s gross order books based on secured contracts stood at approximately $690m, with projects stretching up to 2016.

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.

Enviro-Hub Hldgs  -- -- --   
Business: Engages in recycling & e-waste management. [FY18 Turnover] Trading & Recycling of e-waste/metals (51.3%), Piling contract (35.9%), investment properties (12.8%).

Insight: Feb-19, FY18 revenue plunged 57% due to absence of... Read More
Keong Hong Hldgs  -- -- --   
Business: Co is principally engaged in bldg construction activities.

Insight: May-19, 1H19 revenue rose 7.2% due to higher reven... Read More

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