Company Briefs: Tiong Seng Group

Tiong Seng Group

Tiong Seng Contractors, a unit of mainboard-listed construction group and property developer Tiong Seng, has been awarded a $98.3 million contract by national water agency PUB to supply and install a water transmission steel pipeline.

The project will start on June 17 and it is expected to be completed in 2019.

ISR Capital

Investment firm ISR Capital will acquire a 19.9 per cent stake in Tantalum Holding (Mauritius) for $13.27 million.

The target company extracts rare earth elements. It holds a permit to explore and develop a project in Madagascar, off the coast of south-east Africa.

Rare earth elements are critical to many existing and emerging applications, including clean energy technologies such as hybrid and electric cars and making wind turbines.

ISR Capital said in an exchange filing yesterday that the investment is a good opportunity to acquire a stake in an asset that will be in high demand and whose end products are required for a wide spectrum of applications.

mm2 Asia

Event production group UnUsUal has appointed finance experts to prepare for a Catalist listing.

Catalist-listed film and TV content producer mm2 Asia, which owns a 51 per cent stake in UnUsUal, said in an exchange filing yesterday that the proposed listing is at a preliminary stage and subject to requisite approvals from the regulatory authorities.

The directors might also decide not to proceed if they decide a listing is not in the company's interests.

mm2 Asia bought its stake in UnUsUal for about $26 million earlier this year.

A version of this article appeared in the print edition of The Straits Times on June 11, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe