Stocks In Focus SG (Asiasons Capital, Ellipsiz, KTL Global) – 07/04/15
Related stocks: SGX:5ET, SGX:E13, SGX:EB7, SGX:RC5
Asiasons Capital announced that it had entered a non-legally binding term sheet with Advance Capital Partners Asset Management in connection with the issuance by the company to Advance Opportunities Fund of 1 percent unsecured equity linked redeemable structured convertible notes due 2018, with an aggregate principal amount of up of $25 million in three tranches. The company is currently in negotiations with a party for the sale of a subsidiary. If successful, the transaction will enable the company to procure immediate liquidity for its long term assets and reduce some short and long term debt and liabilities.
Ellipsiz’s chief executive officer sold most of his stake to a construction company’s boss, after the company’s founder divested his stake last month. David Lum Kok Seng, the managing director of construction firm Lum Chang Holdings, became the largest shareholder with a 20.4 percent stake, buying 100 million shares in an off-market deal from the previous largest shareholder, chief executive Melvin Chan Wai Leong.
KTL Global unveiled key corporate changes, relocating the bulk of its heavy steel rope and rigging production from Singapore to Tanjung Langsat. The bulk of the managed services will also relocate to Malaysia, as the company intends to increase its manpower in Malaysia from 18 to 50 by the end of 2015. The relocation will result in significant improvement in internal efficiencies and is expected to translate into operational cost efficiencies in FY2016, which will rise further in FY2017.
Triyards Holdings secured another US$100 million worth of contracts, comprising a lifeboat, a high speed aluminum craft project including integrated logistics support work and a fabrication project. The contracts come at the back of two ice-class Multi-Purpose Support Vessels (MPSVs) contracts and a turret fabrication project valued at more than US$100 million and are scheduled for completion in 4Q16.
http://www.sharesinv.com
Related stocks: SGX:5ET, SGX:E13, SGX:EB7, SGX:RC5
Asiasons Capital announced that it had entered a non-legally binding term sheet with Advance Capital Partners Asset Management in connection with the issuance by the company to Advance Opportunities Fund of 1 percent unsecured equity linked redeemable structured convertible notes due 2018, with an aggregate principal amount of up of $25 million in three tranches. The company is currently in negotiations with a party for the sale of a subsidiary. If successful, the transaction will enable the company to procure immediate liquidity for its long term assets and reduce some short and long term debt and liabilities.
Ellipsiz’s chief executive officer sold most of his stake to a construction company’s boss, after the company’s founder divested his stake last month. David Lum Kok Seng, the managing director of construction firm Lum Chang Holdings, became the largest shareholder with a 20.4 percent stake, buying 100 million shares in an off-market deal from the previous largest shareholder, chief executive Melvin Chan Wai Leong.
KTL Global unveiled key corporate changes, relocating the bulk of its heavy steel rope and rigging production from Singapore to Tanjung Langsat. The bulk of the managed services will also relocate to Malaysia, as the company intends to increase its manpower in Malaysia from 18 to 50 by the end of 2015. The relocation will result in significant improvement in internal efficiencies and is expected to translate into operational cost efficiencies in FY2016, which will rise further in FY2017.
Triyards Holdings secured another US$100 million worth of contracts, comprising a lifeboat, a high speed aluminum craft project including integrated logistics support work and a fabrication project. The contracts come at the back of two ice-class Multi-Purpose Support Vessels (MPSVs) contracts and a turret fabrication project valued at more than US$100 million and are scheduled for completion in 4Q16.
http://www.sharesinv.com
