Company Briefs: Tigerair

Tigerair

Scoot and Tigerair will expand their cooperation when Scoot launches daily services to Guangzhou in China in January.

Scoot's Boeing 787 Dreamliner service will replace one daily flight currently operated by Tigerair with a smaller Airbus A-320 aircraft to better match capacity to demand, the companies said in a joint statement.

Together, they will operate twice-daily services and manage the route jointly. While the service replacement will take effect from Jan 16, Tigerair will also operate additional services on certain dates during next year's Chinese New Year period.

The airlines are finalising a similar arrangement for another route.

Noble Group

Commodity trader Noble Group has successfully closed a US$1.1 billion (S$1.52 billion) revolving borrowing base facility.

Noble said the facility received strong support, resulting in it being upsized from an initial US$450 million. It was supported by six key banks led by Bank of Tokyo-Mitsubishi UFJ and Societe Generale as joint lead arrangers and joint book-runners. The credit line will be utilised by Noble Americas and Noble Petro, both wholly owned subsidiaries of Noble.

Keppel Infrastructure Trust

Keppel Infrastructure Trust declared a distribution per unit of 0.93 cent for the second quarter. Revenue for the three months to Sept 30 was up 20.3 per cent at $152.9 million, with full-quarter contributions by assets from the Crystal Trust and Keppel Merlimau Cogen acquisitions.

Net asset value per unit rose to 35.9 cents compared with 12.3 cents as at March 31, primarily due to the issue of new units in connection with the acquisitions and mark-to-market gains of derivative instruments, which were partly reduced by distributions paid.

A version of this article appeared in the print edition of The Straits Times on October 20, 2015, with the headline 'Company Briefs'. Print Edition | Subscribe