18sept
Singapore stock market corporate news and announcements :

EZRA Holdings (EZRA SP)
Ezra Holdings has ordered a new multi-functional support vessel for some SGD162.4m. The contract value includes the cost of sophisticated equipment as well as integrated features such as a remotely operated vehicle hangar and foundations for a heave-compensated offshore crane. When delivered in 1Q2010, this latest vessel will join Ezra's two 30,000 brake horsepower large deepwater Rolls-Royce designed multi-functional support vessels which were ordered in May and scheduled for delivery in 2009 and 2010.

CH Offshore (CHOS SP)
CH Offshore, which owns and charters support vessels for oil and gas drilling, announced that net profit for FY08 will be lower compared to the previous year. FY07 earnings were boosted by vessel sales gains of US$23m.

Singapore Airlines (SIA SP)
SIA filled 81.6% of its seats in Aug, up 1.9 ppts y-y, as passenger carriage grew even as capacity shrank. The airline said it enjoyed a 2% y-y growth in system-wide passenger carriage (in revenue passenger kilometres) while capacity (measured in available seat kilometres) fell marginally by 0.3%. The number of passengers carried rose by 5.1% y-y to 1.62m.

Gen Int - Acquisition of new wholly owned subsidiary Glaive Limited, with no impact on NTA or EPS for curret year financial

Saint James Pte Ltd seeks listing on SGX's new sponsor supervised board through a $108 million reverse takeover of JK Technology Group Limited (JK Tech).

FJ Benjamin disposes entire stake in Saint James Pte Ltd

WEPCO disposes its 49.99% stake in Tong Chieh Trading (HK)

Westcomb invested a further sum of S$1 million in Westcomb Securities Pte.
Ltd a wholly owned subsidiary of the company.

NOL - For the four weeks of Period 8, 2007, liner volumes increased 11% over the same period last year reflecting continued strong container demand growth.

Chemoil announced that their 3Q profit after tax may get affected by issues affecting its logistics operations in Singapore as well as volatile conditions in both the petroleum and energy futures markets.


* JK Tech Ltd - St James Holdings Ltd has announced plans to seek a listing on Singapore’s soon-to-belaunched new board through a $108 million reverse takeover of JK Tech. Under a Sale and Purchase Agreement signed between the shareholders of St James and JK Tech, a Sesdaq-listed IT firm, the former will sell to the latter the entire issued and paid-up capital of St James.
The three shareholders of St James are FJD Pte Ltd, a joint-venture between Dennon Entertainment Pte Ltd, a private vehicle controlled by Dennis Foo and his family, and SGX-listed F J Benjamin Holdings Ltd, EK Capital Pte Ltd, a private investment vehicle associated with Jopie Ong and Daniel Ong, and Breadtalk Group Ltd, a Sesdaq-listed company.

* OKP - its wholly-owned subsidiary, Eng Lam Contractors Co (Pte) Ltd, had been awarded the Final Premix Surfacing, Reinstatement and Ancillary Works at Tuas View, Phase 6 ("the Contract") by the Jurong Town Corporation. The amount of the Contract is SGD6,257,000 and the commencement date for the Contact is 8 October 2007. The Contract is expected to be completed on 7 October 2008.

HPL: HPL and Lehmen Brothers in a 50-50 JV company, Laem Ka, formed to develop and construct a luxury hotel in Phuket Thailand.

UNISTEEL: Deregistration of subsidiary incorporated in China, Wuxi Gentech Co Ltd. Not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 December 2007.

Time Watch. Leading PRC watch Player Signs On Celebrity Actor Francis Ng for HK$1 million ahead of International Debut Store Opening in Singapore.

Sunpower's subsidiary, Jiangsu Sunpower Technology was awarded "2007 China's Top Brand" by the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China.

Kep Corp. Keppel FELS delivers third KFELS B Class jackup rig to Seadrill ahead of time.

Ezra's subsidiary. Lewek Shipping Pte Ltd, has awarded a contract to Karmsund Maritime Service AS for the design and building of one large 27,000 brake horsepower Multi-Functional Support Vessel ("MFSV" or
"Vessel") at a contractual value of S$162,353,200. Contract has no impact on NTA or EPS. However, mgmt guides that this move will fuel growth.

A subsidiary of Singapore Exchange Limited ("SGX") has invested S$750,000 in a minority stake in a company involved in developing new financial product platforms. This investment is not expected to have any material impact on SGX Group's financial results for the year ending 30 June 2008.


UniAsia. - 1H07 Rev up 70%. NPAT up 91%.