HEETON HOLDINGS

Heeton Holdings has again led a consortium of developers - KSH Holdings, Lian Beng Group and Ryobi Kiso Holdings - to acquire a site in Britain.

In a joint press release yesterday, the four listed developers said they are studying the 106,722 sq ft site in Leeds extensively, before finalising development plans for the site approved for more than one million sq ft of mixed-use space.

The site is strategically located within five minutes' walk of the city centre, off Regent Street and New York Road - Leeds' two main thoroughfares.

Heeton will hold an effective interest of 55 per cent while KSH Holdings, Lian Beng Group and Ryobi Kiso's unit will have an effective interests of 15 per cent each.

SECOND CHANCE PROPERTIES

Second Chance Properties reported that its third-quarter net profit dropped by 7.4 per cent to $3.95 million. Revenue for the three months ended May 31 came in 2.7 per cent lower at $10.54 million.

Second Chance operates apparel, gold and property businesses. Earnings per share for the quarter was 0.58 cent, down from 0.63 cent for the same period last year. Net asset value per share was 38.25 cents as at May 31, down from 38.87 cents as at Aug 31.

VALLIANZ HOLDINGS

Mainboard-listed Vallianz Holdings said yesterday that it has won a contract worth up to US$300 million (S$405 million) to supply two self-elevating platforms to a large national oil company in the Middle East.

The provider of offshore support vessels and integrated marine solutions to the oil and gas industry said that both vessels are expected to be deployed from the third quarter of 2015 for a period of five years, with the customer having an option to extend the charter for another two years until 2022.

The vessels are self-elevating platforms which will be used to perform well servicing for the customer's offshore platforms and well structures in the Arabian Gulf.