Company Briefs: Olam International

Olam International

Agri business Olam International announced yesterday that it will invest US$150 million (S$202 million) to set up facilities to produce animal feed and day-old chicks in Nigeria.

About US$100 million has been committed to building and operating an integrated animal feed mill, breeding farms and hatchery in Kaduna State. The remaining US$50 million is for a second investment in an integrated poultry and fish feed mill in Kwara State.

At full capacity, both feed mills are expected to produce more than 600,000 tonnes of high-quality poultry and fish feed a year.

The poultry breeding farm in Kaduna is expected to produce over one million hatching eggs, Olam said yesterday.

Keppel Land

Keppel Land, the property arm of Keppel Corporation, said yesterday that it has entered into a bond subscription agreement with Vietnamese developer Nam Long Investment Corporation (NLG).

It will subscribe for 500 billion dong (S$30 million) of convertible bonds due in 2020 with a coupon rate of 7 per cent per annum. Keppel Land may convert the bonds into shares of NLG, an affordable housing developer in Ho Chi Minh City, subject to conditions.

Earlier last year, Keppel Land subscribed for 7.1 million new ordinary shares of NLG, for a 5 per cent stake of the company. If the total principal amount of the bonds is converted into shares, Keppel Land will hold up to about 15 per cent in the enlarged share capital of NLG.

SIA Engineering

Mainboard-listed SIA Engineering (SIAEC) has been appointed as an on-site support service provider by Snecma.

SIAEC will provide on-wing maintenance services to operators of the CFM Leap-1A and Leap-1B engines in the Asia-Pacific region.

The Leap-1A is one of two engine options for the Airbus A320neo family, while the Leap-1B is the exclusive powerplant for the Boeing 737 Max. The Leap engines are produced and marketed by CFM International, a joint company between Snecma in France and GE in the United States.

Said SIAEC's chief executive Png Kim Chiang: "This appointment adds to the growing capabilities of SIAEC on next-generation aircraft."

A version of this article appeared in the print edition of The Straits Times on April 09, 2016, with the headline 'Company Briefs: Olam International'. Print Edition | Subscribe