Singapore Corporate News - 19 Dec 2007

China Yuanbang repays 21.9m yuan loan

CHINA Yuanbang Property Holdings said it has fully repaid to its chairman Chen Jianfeng the outstanding balance of loans owed to him, which amounted to about 21.9 million yuan, including interest. It also said it has borrowed from an unrelated third party, Lu Biao, a total of 63 million yuan secured against specified properties.

Linair wins contract to sell integrated systems

LINAIR Technologies has secured a contract to sell 42 integrated systems of its Micro-Safe Individual Ventilated Caging Systems to the National Laboratory Animal Centre in Taiwan for $2 million. The systems will be installed by April 2008.

Epure proposes share split

EPURE International has proposed a share split of each of its existing ordinary shares into three ordinary shares, to improve liquidity and possibly increase the number of shareholders.

Poh Tiong Choon in JV with Wujiang Logistics

POH Tiong Choon Logistics has established a 25-75 joint venture with China's Wujiang Logistics Centre, to be named Wujiang Zhongxin Logistics Consortium Co Ltd. The JV has registered capital of 20 million yuan. Poh Tiong Choon has remitted US$203,000, representing 30 per cent of its equity capital, to the JV company.

Vita's 5-star hotel project called off

VITA Holdings' planned deal with Vietnam's Dai Viet Trading Co for a five-star hotel project has been called off by both parties as certain conditions were not met as at the extended cut-off date of Dec 15, 2007.

Abterra buys 22.8% of Chinese mine company

ABTERRA announced a $77.8 million purchase of 22.8 per cent of Zuoquan Xinrui Metallurgy Mine Co, which owns two iron ore mines in Shanxi, China, with a total reserve of 34.7 million tonnes and annual capacity of 400,000 tonnes per annum. It will pay the share vendor in cash (320 million yuan) and through the issue of options.