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  1. #21
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    26 August 2015 Oakwood Asia Pacific clinches management contract from Newfort Realty

    26 August 2015 Oakwood Asia Pacific clinches management contract from Newfort Realty OAKWOOD Asia Pacific has secured a management contract from Newfort Realty Pte Ltd to manage the freehold property Chateau Eliza off Orchard Road as a serviced residence.
    The management contract covers a period of 10 years, which is renewable for another 10 years.
    This property at 18 Mount Elizabeth Road was acquired by Newfort Realty in 2012 for S$92.2 million in a collective sale with an original intent to redevelop it into a boutique residential development for sale.
    But the lacklustre residential market prompted Newfort Realty to change its plans and obtain approval from the Urban Redevelopment Authority to convert the use of the property to that of serviced apartments.
    The property is now undergoing refurbishment to become a 98-unit serviced residence, with the costs of S$25-30 million being borne by Newfort Realty.
    To be branded as Oakwood Studios, a product tier under Oakwood "designed for global normads", the serviced residence will comprise studio apartments, one-bedroom and two-bedroom units. It will open its doors in November next year.
    Oakwood Asia Pacific managing director Dean Schreiber said Oakwood is looking to extend the Oakwood Studios product tier to other cities such as Bangkok, London, New York, Tokyo, Sydney, and Shanghai where it is in talks with interested property owners.
    Newfort Realty is a private firm owned by five shareholders, including two members of the Tan family behind Fortune Group. The Tans own 37 per cent of Newfort Realty.

  2. #22
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    26 August 2015 Memstar Technology posts net losses of $1.5 million in FY2015

    26 August 2015 Memstar Technology posts net losses of $1.5 million in FY2015 SINGAPORE (Aug 26): Memstar Technology, the former hollow fibre membrane manufacturer, reported a net loss of $1.5 million in FY2015 ended June 30, compared with earnings of $196.2 million a year earlier.
    The group did not recognise any revenue during the year as it had completed the sale of its principal and wholly owned subsidiary and its membrane business in April 2014 to United Envirotech.
    Memstar had announced in December 2014 the proposed acquisition of Longmen Group for US$420 million ($589 million0. The purchase price would be fully satisfied by the issue of new shares at 1.6 cents each. The new shares represent 73.1% of the total issued share capital of Memstar and will result in a reverse takeover (RTO).
    Memstar says Singapore Exchange has no objections to the group’s request for an extension of time from Oct 11, 2015 to Nov 30, 2015 for the completion of the RTO. However, in the event that the RTO is unable to be completed, the exchange may not grant a further extension of time and the group may be delisted from the mainboard.
    Announcement on material developments will be made when appropriate, it adds.
    The group did not declare any dividends for the current financial period.
    Memstar’s shares closed 8.3% lower at 1.1 cent.

  3. #23
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    SINGAPORE (Aug 26): IHH Healthcare’s earnings rose 9% to RM228.1 million ($76 million

    SINGAPORE (Aug 26): IHH Healthcare’s earnings rose 9% to RM228.1 million ($76 million) in the second quarter ended June 30, 2015, from RM209.1 million a year ago.

    Revenue jumped 12% to RM2.09 billion from RM1.87 billion previously.
    The hospital chain operator says its revenue and EBITDA growth were mainly driven by higher revenue recorded across all three of its home markets – Malaysia, Singapore and Turkey.
    Continued organic growth and the contribution from recently opened hospitals also helped boost topline and EBITDA.
    IHH says the strengthening of the Singapore dollar has helped offset the impact of a weaker Turkish Lira upon its translation into the Malaysian ringgit, which is the firm’s reporting currency.
    It says this was despite recognising a forex loss of RM22 million on the translation of Acibadem’s non‐Lira borrowings for the quarter.
    IHH says it will have enough capacity to meet increasing demand for quality private healthcare across its home markets, as capacity is expected to reach above 10,000 beds before 2017.
    IHH says it will continue to drive growth both organically and through acquisitions.
    IHH ended down 2.5 cents or 1.3% at $1.90.

  4. #24
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    Request for Trading Halt

    Request for Trading Halt 27 Aug 2015 11:19 CST *DJ Singapore's Olam International Calls for Trading Halt Pending Announcement
    27 Aug 2015 11:19 CST *DJ Olam International Shares Were 13.4% Higher at S$1.91 Before Trading Halt
    27 August 2015 Temasek joins MBK-led consortium to bid for Tesco's South Korea unit: sources [SINGAPORE] Asia-focused private equity firm MBK Partners has partnered with Singapore state investor Temasek Holdings to bid for the South Korea arm of British retailer Tesco, two people familiar with the matter told Reuters.
    The sources declined to be named because the information remained confidential. A Temasek spokeswoman declined to comment while a spokesman for MBK could not be immediately reached.
    MBK is competing against Affinity Equity Partners/KKR & Co consortium and Carlyle Group LP for buying Tesco's South Korea unit valued at about US$6 billion, Reuters has previously reported.. REUTERS

  5. #25
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    27 August 2015 OCBC, Lion Global create private-equity fund with external investors

    27 August 2015 OCBC, Lion Global create private-equity fund with external investors OCBC Bank and its asset management subsidiary Lion Global Investors announced on Thursday that the Lion-OCBC Capital Asia Fund I, L.P. has closed successfully.
    They said this is the first time OCBC, through its private-equity investment unit Mezzanine Capital Unit (MCU), has created a private-equity fund investing in small and medium companies in Singapore, Malaysia, Indonesia and China for institutional investors and high net worth individuals (HNWIs).
    The fund, which started out with S$400 million, has grown by nearly 40 per cent to S$550 million due to investor demand.
    It took nine months to secure investor subscription after the fund was launched in late November 2014.
    A fund of this size would typically take more than a year to close, they said.
    Daniel Kwan, head of MCU, said: "We introduced this fund to meet growing interest in alternative assets from our market partners and high net worth customers in Bank of Singapore. Investors in the fund were attracted by the superior returns that MCU has consistently delivered for OCBC of more than 20 per cent internal rate of return in the past six years as its private equity unit, as well as by the fund's unique positioning as a bank-sponsored investment fund."
    Gerard Lee, chief executive officer of Lion Global Investors, noted that alternative investments have found a growing audience among those seeking alpha solutions in an uncertain global economic environment.
    He added the fund will open doors for Lion Global to reach out to investors who have shown increasing interest in alternative strategies.
    Among the fund's investors are insurance companies, regional banks, sovereign wealth funds and HNWIs, including customers of OCBC Bank's private banking subsidiary, Bank of Singapore.

  6. #26
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    27 Aug 2015 11:04 CST DJ OCBC,

    27 Aug 2015 11:04 CST DJ OCBC, Lion Global Establish Private Equity Fund to Target Asian Firms -- Market Talk

    0304 GMT [Dow Jones] Singapore's second largest bank by assets Oversea-Chinese Banking Corp. (O39.SG) and its asset management unit Lion Global Investors have established a S$500 million (US$392 million) private equity fund that will invest in small and medium-sized companies in four core markets Singapore, Malaysia, Indonesia and China. In a joint statement OCBC and Lion Global said the fund would focus on sectors such as agriculture, commodities, and consumer industries, an indication that the fund is seeking to tap rising urbanization in some of the big Asian countries that are witnessing rapid urbanization and rising middle class incomes. The statement says that the fund attracted investors from insurance companies, regional banks, sovereign wealth funds and high net-worth individuals. OCBC is up 2.6% at S$9.12, outperforming the broader FTSE Straits Times Index which is up 1.9%.

  7. #27
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    27 Aug 2015 10:26 CST DJ OCBC, Lion Global Establish S$550M Private Equity Fund

    27 Aug 2015 10:26 CST DJ OCBC, Lion Global Establish S$550M Private Equity Fund

    By P.R. Venkat
    SINGAPORE--Oversea-Chinese Banking Corp. (O39.SG) and its asset management unit Lion Global Investors have established a S$550 million (US$392 million) private equity fund that will invest in small and medium-sized companies in Asia.
    The Lion-OCBC Capital Asia Fund I, L.P. started out as a S$400 million fund and the size increased by nearly 40% due to strong demand from investors, OCBC and Lion Global said in a joint statement Thursday.
    The fund, which has been closed, has attracted investors from insurance companies, regional banks, sovereign wealth funds and high net-worth individuals, the statement said.
    It said the fund will target high-growth small and medium enterprises in four core markets of Singapore, Malaysia, Indonesia and China focusing on sectors such as agriculture, commodities, and consumer industries.
    OCBC is Singapore's second-largest bank by assets after DBS Group Holdings (D05.SG), while its unit, Lion Global Investors, has assets under management of S$36 billion.

  8. #28
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    27 Aug 2015 10:26 CST DJ OCBC,

    27 Aug 2015 10:26 CST DJ OCBC, Lion Global Establish S$550M Private Equity Fund

    By P.R. Venkat
    SINGAPORE--Oversea-Chinese Banking Corp. (O39.SG) and its asset management unit Lion Global Investors have established a S$550 million (US$392 million) private equity fund that will invest in small and medium-sized companies in Asia.
    The Lion-OCBC Capital Asia Fund I, L.P. started out as a S$400 million fund and the size increased by nearly 40% due to strong demand from investors, OCBC and Lion Global said in a joint statement Thursday.
    The fund, which has been closed, has attracted investors from insurance companies, regional banks, sovereign wealth funds and high net-worth individuals, the statement said.
    It said the fund will target high-growth small and medium enterprises in four core markets of Singapore, Malaysia, Indonesia and China focusing on sectors such as agriculture, commodities, and consumer industries.
    OCBC is Singapore's second-largest bank by assets after DBS Group Holdings (D05.SG), while its unit, Lion Global Investors, has assets under management of S$36 billion.

  9. #29
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    27 August 2015 OCBC, Lion Global

    27 August 2015 OCBC, Lion Global establish private equity fund to target Asian firms

    SINGAPORE (Aug 27): Oversea-Chinese Banking Corp., Singapore's second largest bank by assets, and its asset management unit Lion Global Investors have set up a $500 million private equity fund that will invest in small and medium-sized companies in the four core markets Singapore, Malaysia, Indonesia and China.
    In a joint statement, OCBC and Lion Global said the fund would focus on sectors such as agriculture, commodities and consumer industries, an indication that the fund is seeking to tap rising urbanisation in some of the big Asian countries that are witnessing rapid urbanisation and rising middle-class incomes.
    The statement says that the fund attracted investors from insurance companies, regional banks, sovereign wealth funds and high net-worth individuals.
    OCBC is up 2.6% at $9.12, outperforming the Straits Times Index which is up 1.9%.

  10. #30
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    US economic data

    27 August 2015 Brent climbs by over US$1 on crude stock draw, US economic data [SEOUL] Brent crude climbed by more than US$1 a barrel on Thursday on an unexpected fall in US crude inventories and a rally in global equity markets, but a stronger dollar capped gains.
    Front-month Brent, the global oil benchmark, had gained US$1.03 to US$44.17 a barrel by 0225 GMT, having ended down 7 cents at US$43.14 on Wednesday.
    US crude's front-month contract rose 91 cents to US$39.51 a barrel, after settling down 71 cents, or 1.8 per cent, at US$38.60 a barrel. "The local region is ... shrugging off some of the currency impact, instead pricing in the draws on inventory and a better than expected industrial outlook," said Michael McCarthy, chief market strategist at CMC Markets in Australia.
    US crude inventories fell 5.5 million barrels in the week to Aug 21, the biggest one-week decline since early June, data from the Energy Information Administration showed on Wednesday. That was in line with the industry group the American Petroleum Institute's late-Tuesday report.
    Analysts had expected an increase of 1 million barrels.
    Wang Tao, a Reuters market analyst for commodities and energy, said Brent crude may approach resistance at US$44.64 per barrel again, as its bounce from the Aug 24 low of US$42.23 seemed to be incomplete.
    In other financial markets, a rebound on Wall Street helped soothe investors' tattered nerves, while the dollar rallied as risk aversion eased.
    Regaining confidence after a sharp rebound on Wall Street where investors had been hit by worries over China's faltering economy, London copper futures also strengthened on Thursday.
    Data released on Wednesday showed US non-defence capital goods orders excluding aircraft, which is a proxy for business investment, increased 2.2 per cent in July, the biggest rise since June last year and handily beating expectations. "This suggests that business investment has continued to pick up at the beginning of the third quarter following a solid finish to the second quarter," ANZ said in a morning note on Thursday, referring to the US core capital goods order data. REUTERS

 

 

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