*ABTERRA: General Nice Resource (HK) is the parent company of Abterra.
Abterra, a supply chain manager of resources and minerals, said recently that it is likely to benefit from rising coking coal prices. Reuters reported on 28 June that China's steel production is soaring way over estimates and the country had paid for a shipment of coking coal at a price higher than the benchmark price.
The Jiaozhong coking coal mine of Abterra.
Abterra is on track to become a sizeable player in the cking coal industry. Its CEO, Jaffe Lau, said in a press release: “We have set ambitious targets and have the resources to deliver on those targets. The target of the Group is to continue to make strategic acquisitions of coking coal mines to grow our production capacity to 5million tonnes per annum in the next 2-3 years.”
In another announcement, in early June, Abterra said it had entered into a share swap agreement with a HK strategic partner.
The noteworthy point is that Abterra will swap 255 million Abterra shares at 12.3 cents apiece – significantly higher than the market price then and currently of 5.5 cents - in exchange for 385 million of LeRoi Holdings at HKD 43.5 cents.
The two companies will explore investment opportunities together in the coking coal, coke and iron ore mining industry.
One of the abalone meals at Ah-Yat-Oceanus joint-venture restaurant chain in China.
* OCEANUS: Prior to the emergence of Capital Group of Companies as a substantial shareholder, Oceanus had obtained direct funding of S$73.5 million from two private equity firms.
They are Ocean Wonder International Limited, a wholly-owned subsidiary of AIF Capital Asia III L.P, and Hupomone Capital Partners Singapore Pte Ltd and strategic investors.
Dr Ng Cher Yew, Executive Chairman of Oceanus, commented, “During this difficult time of the financial crunch and economic uncertainty, we are pleased to announce that the investment interest in this financing exercise was overwhelming.”
Oceanus is the world’s largest land-based producer of premium quality Japanese abalones.
Various aspects of the apartments at The Reflections @ Keppel are installed by Design Studio.
DESIGN STUDIO FURNITURE MANUFACTURER: The leading premier furniture manufacturer, product and interior fitting-out specialist in Singapore reported a record net profit of S$4.3 million in 1Q2009 ended 31 March 2009, a 153.2% surge from that of 1Q2008.
Net cash flow from operating activities remains strong at S$3.3 million.
Cash balance of S$33.0 million as at 31 March 2009 translates to cash per share of S$0.13.
Wong Swee Chun, 71, is the founder of Straits Construction Co. Pte Ltd, a builder of HDB flats. Mr Wong not only has a direct interest of 4.57% in Design Studio but also a deemed interest in the 51.98 million shares (20.47%) held by Straits Construction.
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