Company Briefs: Singapore Technologies Engineering

Singapore Technologies Engineering

ST Aerospace Resources, the aerospace arm of ST Engineering, has expanded the aircraft leasing portfolio of its subsidiary, Keystone Holdings (Global), with a new capital injection of US$5.78 million (S$7.8 million).

The new capital injection adds an Airbus A321 to the firm's leasing portfolio and brings ST Aerospace Resources' total share capital contribution in Keystone to US$18.96 million.

Keystone Holdings (Global) has also injected US$2.3 million into its subsidiary Keystone Leasing (UK), which has in turn pumped the same amount into Keystone 1.

These capital injections are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year, ST Engineering said.

Yanlord Land Group

Real estate developer Yanlord Land Group has acquired two land parcels in the Tianjin Haihe Academic Park in Tianjin for 1.97 billion yuan (S$411 million). This translates to an average purchase price of 7,517 yuan per sqm at two public land auctions. The two sites have plot ratios of between 1.3 and 1.4 times, and a total gross floor area of 262,100 sqm.

Yanlord said the sites benefit from the Tianjin government's initiatives to develop the area into a key educational district, and that it will develop high-quality residential apartments, townhouses and villas there.

Yeo Hiap Seng

Food and beverage company Yeo Hiap Seng is in a joint venture with China Huiyuan Juice Group to develop, manufacture, sell and distribute fruit and vegetable juices in Malaysia.

A joint venture entity has been set up in Malaysia with an initial investment of RM5 million (S$1.7 million). Both parties hold equal equity interest in the entity. It will begin by targeting the Malaysian market, with a possibility of expanding into other South-east Asian markets later.

Yeo Hiap Seng will undertake product development, marketing, distribution and production management, while China Huiyuan will share technical know-how and lead research and development.

Yeo Hiap Seng also intends to strengthen its business cooperation with China Huiyuan in China, and access China Huiyuan's extensive distribution network there.

A version of this article appeared in the print edition of The Straits Times on March 19, 2016, with the headline 'Company Briefs: Singapore Technologies Engineering'. Print Edition | Subscribe