Company briefs :Kidman Resources

Kidman Resources

Production has resumed at the Australian-listed Kidman Resources Burbanks gold mine after a period of underground development.

Kidman had acquired a 80-per cent-stake in Burbanks in May last year and then bought the remaining stake from Blue Tiger Mining, which allowed the company to make operational improvements.

The company added that it appointed a new underground mining contractor and adopted hand-held mining methods better suited to the site, which is near Coolgardie, West Australia.


Sim Lian Group

Property and construction firm Sim Lian Group has acquired Dalyellup shopping centre, a freehold investment grade neighbourhood mall in Dalyellup in Bunbury, Western Australia. The Dalyellup mall, which started operations in April last year, is anchored by a Woolworths supermarket, which occupies most of the centre. Other tenants include a discount variety retailer, food and beverage outlets and a gymnasium.

The centre was acquired for A$31.56 million (S$31.5 million), which the company intends to finance with a combination of internal funds and bank borrowings, it said yesterday.

The open market valuation of the centre conducted by Jones Lang LaSalle was A$31.8 million as of April 1 this year.


SMRT Corporation

SMRT Corp's unit SMRT International and United Technical Services (UTS) has formalised its investments in 2 Getthere Holding, a Netherlands-based company that designs and makes a family of automated vehicles.

SMRT International is acquiring a 20 per cent stake worth €4 million (S$6 million) in 2getthere, while UTS is increasing its holding in 2getthere to 11 per cent, based on the same valuation.

These investments are a strategic step that will deepen 2getthere's technological capabilities as a leading market provider of automated vehicle systems.

It will also enhance the delivery of current and new projects in the Middle East and Asia-Pacific.

A version of this article appeared in the print edition of The Straits Times on July 01, 2016, with the headline 'Company briefs'. Print Edition | Subscribe