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Headliners (GSH Corp, Vard Hldgs, Fraser & Neave, City Developments)
Headliners | 02 January 2014
Related stocks:
F99
C09
By: Peter Ng
Articles (81) Profile

GSH Corp Acquires Properties And Land In Sutera Harbour
Global Strategic Holdings Corporation (GSH) via its subsidiary, Borneo Ventures, and the investment vehicle of the company’s executive chairman, Sam Goi, have jointly acquired a 77.5 percent stake in The Sutera Harbour Group for a purchase consideration of RM700 million (approximately $270 million). Sutera Harbour Group owns Sutera Harbour Resort and other prime properties in Kota Kinabalu, Sabah, where the Sutera Harbour Resort comprises of two five-star hotels, the 500-room Pacific Sutera and 456-room Magellan Sutera, and other recreational facilities. The resort is a 10 minutes boat ride from the popular scuba diving destination of Tengku Abdul Rahman Marine National Park. GSH’s other subsidiary, Ocean View Ventures and Ocean View Point, have agreed to acquire stakes in two separate land parcels measuring 12.1 acres and 13.1 acres respectively within the 384-acre Sutera Harbour property. With the latest acquisition of Sutera Harbour Resort and its surrounding properties, GSH will be well-positioned to tap on Kota Kinbaulu’s strong tourism growth.

Vard Inks Contract For 1 Diving Support And Construction Vessel
Vard Holdings has secured a contract to design and build one diving support and construction vessel for Harkand Group worth more than NOK1 billion. Utilising the VARD 3 03 design, the vessel, capable of supporting split level diving operations to a maximum diving depth of 300 meters, will boast good sea-keeping abilities, excellent station keeping performances and low fuel consumption. Harkand is a global subsea inspection, repair and maintenance group with operations in Africa/Middle East, Asia Pacific, Europe and North America. The vessel is scheduled for delivery in 2Q16 with an option to purchase a second similar vessel. 

F&N Proposes $606.9m Payout
Fraser & Neave (F&N) has proposed a cash distribution of approximately $606.9 million, or $0.42 per share, to shareholders via a capital reduction exercise. As at 30 September 2013, F&N holds $737.4 million from the net proceeds of share issuance to Seletar Investments, a subsidiary of Temasek Holdings, in January 2007, which are unutilised. The management is of the view that the firm has excess capital and the exercise would allow F&N to achieve a more efficient capital structure. F&N’s management has stressed that the capital reduction will not lead to a cancellation of shares or change in the number of shares.

City Developments’ Hotel Arm Acquires Hotel In London
City Development’s hotel arm Millennium & Copthorne Hotels via its subsidiary, Millennium Hotels (West London), has acquired a hotel and its related hotel assets in the Chelsea district of London, England for a purchase consideration of GBP65 million (approximately $134.7 million). The hotel is a luxury property located within the Chelsea Harbour mixed-use development in London, SW10 0XG, that borders River Thames and offers 154 suites and four penthouses. The property to be acquired has a remaining leasehold term of approximately 98 years, while the acquisition is expected to be completed by 1Q14. The hotel to be acquired is one of the few hotels in the city to offer an all-suite guest accommodation, and is situated in a riverside area along the prestigious River Thames, that is expected to undergo further infrastructure improvements in the near future.

Backed by a strong interest in investments, Peter's research spans across a range of industries, with his focus placed on companies listed on the SGX.

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Fraser & Neave  1.690 -0.010 -0.59%   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Apr-19, 1H19 revenue inched 1.9% to $931.8m underp... Read More
City Developments  9.160 +0.08 +0.88%   
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


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