Company Briefs: Koh Brothers Eco Engineering

Koh Brothers Eco Engineering

A unit of sustainable engineering solutions provider Koh Brothers Eco Engineering has clinched a $520 million contract relating to the Deep Tunnel Sewerage System (DTSS) Phase 2 project. Koh Brothers Building & Civil Engineering Contractor was awarded the contract by PUB, together with its joint-venture partner Penta-Ocean Construction Co.

DTSS is a cost-efficient and sustainable solution to meet Singapore's long-term needs for used water collection, treatment, reclamation and disposal. The second phase includes deep tunnels extending from the downtown area to the western part of Singapore, the Tuas Water Reclamation Plant and an integrated Newater factory.

The project win brings Koh Brothers Eco's order book to $878.9 million.

Geo Energy Resources

The US$300 million notes offering of Geo Energy Resources unit Geo Coal International was more than three times oversubscribed, reaching a total order book of over US$1.2 billion (S$1.6 billion).

The five-year notes have a coupon rate of 8 per cent and mature on Oct 4, 2022. They will be issued on Oct 4 and are expected to be listed on the Singapore Exchange on Oct 5.

Net proceeds from the offering will be used to redeem the outstanding $100 million 7 per cent medium-term notes that Geo Energy had issued in July 2014, and to repay in full the advances received from Engelhart Commodities Trading Partners (Singapore), said Geo Energy. They will also be used for potential acquisitions of coal mining assets.

Mary Chia Holdings

The percentage of shares in takeover target Mary Chia Holdings held in public hands has dropped below the minimum 10 per cent required by the Singapore Exchange, the company said in a pre-market filing yesterday.

This was as Suki Sushi, which launched an unconditional mandatory offer for the beauty and wellness company last month, now owns, controls or has agreed to acquire about 90.1 per cent of its shares, as at 5pm on Sept 27.

Suki Sushi is controlled by Mr Lee Boon Leng, the husband of Mary Chia chief executive Ho Yow Ping, who is the daughter of the Catalist-listed company's founder Mary Chia Ah Tow.

Suki Sushi's offer for Mary Chia will close at 5.30pm on Oct 6. Mary Chia said in the filing that the offer will not be extended.

A version of this article appeared in the print edition of The Straits Times on September 29, 2017, with the headline 'Company Briefs'. Subscribe