Company News

Rotary Engineering Limited is pleased to announce that it has recently won several contracts worth a total value of about S$80 million. Rotary achieved a breakthrough into the LNG space with its first contract win with IHI Corporation to provide tankage works for two X 160,000m3 LNG storage tanks in Rayong, Thailand. Rotary further strengthens its foothold in Fujairah through a consortium with Six Construct Ltd where the consortium was awarded the “Very Large Crude Carrier” (“VLCC”) jetty contract. Rotary Engineering has added Croda, a global manufacturer of speciality chemicals mainly for personal care, health care and industrial products to the list of reputable customers. The Group was awarded various construction packages for Croda’s Alkoxylation plant located on Jurong Island.

ValueMax Group Limited is pleased to announce that the Company had, on 2 September 2014, entered into a sale and purchase agreement with Mr Yeah Hiang Nam and Madam Tan Hong Yee for the purchase by the Company of 100% of the issued and paid-up capital (comprising 1,000,000 ordinary shares each fully paid in the capital of) VM Credit Pte. Ltd for an aggregate consideration of S$1,000,000. VM Credit, upon completion of the Acquisition, will become a wholly-owned subsidiary of the Company.

Mapletree Greater China Commercial Trust Management Ltd., as manager of Mapletree Greater China Commercial Trust (“MGCCT”), wishes to announce that Mapletree Greater China Commercial Treasury Company Limited has today executed a pricing supplement in relation to the issue of S$75,000,000 in principal amount of 3.20% Notes due 2021 under its US$1,500,000,000 Euro Medium Term Securities Programme. The proceeds arising from the issue of the Notes will be applied towards the refinancing of the existing borrowings.

Tuan Sing Holdings Limited wishes to announce that its wholly-owned subsidiaries, TSH Australia Holdings Pte Ltd and Tuan Sing (Australia) Pty Limited have signed an agreement with Kara Investments LLC and GSS III Rutgers BV for the purchase of 129,348,530 stapled securities in Grand Hotel Group (GHG) comprising fully paid ordinary shares in Grand Hotel Company Pty Ltd each stapled to a fully paid ordinary unit in Grand Hotel Trust for a consideration of A$126.04 million. The Sale Securities represent 50% of the total number of issued securities in GHG. Upon completion of the Transaction, Tuan Sing will have 100% ownership and control in GHG. Completion of the Transaction is expected to take place before the end of the year after the satisfaction (or waiver by the parties) of conditions precedent.