Company briefs : Ley Choon Group Holdings

Ley Choon Group Holdings

Ley Choon Group Holdings said yesterday that Singapore Exchange Securities Trading has rejected its application to transfer its listing from the Singapore Exchange mainboard to the Catalist board.

The building firm added that it will look into the options available with regard to complying with the minimum trading price requirement for mainboard-listed companies.


Sats

Ground handling firm Sats' wholly owned subsidiary Sats Investments has entered into a conditional share sale agreement with Bursa Malaysia-listed Brahim's Holdings to buy a 49 per cent stake in its catering unit, Brahim's Airline Catering Holdings.

It is acquiring 490,000 ordinary shares at RM1 each.

It will pay a base consideration of RM110 million (S$36 million) and additional considerations of up to RM108 million.

This is conditional upon certain financial targets being achieved.

As of Sept 30, the unaudited consolidated book value of the sale shares was about RM54.4 million, while consolidated net tangible asset value of the sale shares was about RM20.3 million.


Yangzijiang Shipbuilding (Holdings)

In addition to new contracts announced in its third-quarter results announcement, Yangzijiang Shipbuilding (Holdings) has won contracts for another 11 vessels worth a total of US$626 million (S$884 million), the firm said yesterday.

These contracts are scheduled for delivery in 2018 and do not have any significant impact on the earnings of the group for the financial year ending Dec 31.

Yangzijiang has secured 37 shipbuilding contracts with a total value of US$2.25 billion so far this year, with one contract termination for a bulk carrier.

The termination was replaced with new orders for three carriers by the same customer and so it turned out to be a net addition to the group's order book, it said.

A version of this article appeared in the print edition of The Straits Times on December 19, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe