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Headliners (City Developments, United Envirotech, GLP,Halcyon Agri Corporation)
Headliners | 13 September 2013
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By: Wilfred Ng
Articles (6) Profile

City Developments To Acquire Freehold Property In UK
City Developments (CD) announced that Beaumont Properties (Jersey), an indirect wholly-owned subsidiary of the company, has entered into a sale and purchase contract for the acquisition of a freehold property located in close proximity to Harrods at Pavilion Road in Knightsbridge London, United Kingdom, for a consideration of GBP80m (or approximately $159.6m). The consideration took into account prevailing market values in the surrounding area within the heart of Knightsbridge and the company’s assessment of the property’s redevelopment potential. The proposed acquisition is in line with CD’s goal to develop its overseas engines for a balanced and diversified portfolio in Singapore and abroad, as this is the first acquisition for the CD real estate platform in the United Kingdom.

United Envirotech Seals Rmb286m Wastewater Treatment Contract In China 
United Envirotech (UE) announced that it has signed a Rmb286m ($59m) 30-year transfer operate-transfer cum build-operate-transfer (BOT) agreement with the municipal government of Hong Wei District, Liaoyang City, Liaoning Province, China. Under the terms of the new agreement, UE will acquire the existing 15,000m3/day treatment plant for a consideration of Rmb25m. It will upgrade the plant using its advance membrane bioreactor technology. The BOT project involves adding an additional 45,000m3/day of treatment capacity to cater to the increase in demand. The upgrading work will commence immediately and is expected to be completed by Sep-14. The expansion work is expected to commence in early 2014 and will take 12 months to complete. The project win signified UE’s first major wastewater treatment asset in the city.

GLP Leases 22,000sqm To 2 Industry-Leading Manufacturers In China
Global Logistic Properties (GLP) has signed lease agreements totalling 22,000sqm to 2 industry-leading manufacturers in China. Tontec, a leading manufacturer of high-precision molds, has leased 11,000sqm at GLP Park CDHT situated in 2 Chengdu Development High-Tech Zone, in Chengdu, Midwestern China. API Group has also pre-leased 11,000sqm at GLP Park Suzhou Industrial, Eastern China. Located at the center of Suzhou Industrial Park, GLP Park Suzhou Industrial is connected to the main consumption centers of Shanghai and Suzhou through a convenient and highly efficient transportation network. API has been a customer of GLP since 2004. The increasing lease agreements would strengthen GLP’s market share in China as well as its earnings for FY13.

Halcyon Agri To Acquire Malaysia’s JFL Agro For RM131m
Halcyon Agri Corporation announced that it has entered into a term sheet with Forlenza Investments, Jewel Castle and Laveyne for the acquisition of JFL Agro, including its wholly owned subsidiaries. JFL’s principal asset is a 99-year leasehold commencing 1 Dec-11 of over 24,327.3 acres of Sultanate land in the state of Kelantan, Malaysia, as well as related property, plant, vehicles, equipment, and machinery. The purchase consideration is estimated to be RM131m, taking into consideration, the estimated cultivable acreage of 16,061.9 acres and non-cultivable acreage of 8,265.4 acres of the concession. The proposed acquisition is subject to the finalisation of detailed terms and purchase consideration may be adjusted based upon the land survey determination of cultivable land within the concession. The proposed acquisition represents a major strategic advancement of Halcyon’s business into the upstream segment of the Malaysian natural rubber supply chain and would complement its recent acquisition of Chip Lam Seng’s natural rubber processing factories in Malaysia.

City Developments  9.730 -0.12 -1.22%   
Business: Co is an international property & hotel conglomerate. [FY18 Turnover] Property development (48.4%), hotel operations (39.8%), rental properties (8.5%), others (3.3%).

Insight: May-19, 1Q19 decreased 29.5% to $746.2m compared t... Read More
Halcyon Agri Corp  0.450 -- --   
Business: Co is an integrated producer and merchandiser of Technically Specified Rubber of Indonesian origin also known as Standard Indonesian Rubber (SIR), which is the most widely used grade of natural rubber for the purpose of mfg vehicle tyres.

Insight: May-19, 1Q19 revenue slid 16% due to decreased sal... Read More

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