Singapore Corporate News - 20 Dec 2007

SGX seeks public views on rules for derivatives

SINGAPORE Exchange has published a consultation paper inviting public comment on two proposals to enhance its enforcement framework for the derivatives market. The proposals seek to introduce: (i) a 'composition fines' system to facilitate prompt and effective resolution of rule violations that are of minor to moderate severity; and (ii) minimum penalties for egregious and serious rule violations.

Swiber wins extension of deal from Brunei Shell

SWIBER Holdings has secured a contract extension from Brunei Shell Petroleum Sdn Bhd, bringing its total estimated contract value with Shell to US$200 million, up from the US$146.6 million at the first stage.

Uni-Asia to buy 2 vessels, stake in Ace Bulkship

UNI-ASIA Finance Corp said it will acquire two 33,300 dwt Handy Bulk ships, to be delivered in the first half of 2010 and 2011 respectively, for a total of 8.2 billion yen (S$106 million). It will also acquire 33 per cent of Ace Bulkship, a joint venture that has three 32,000 dwt Handy Bulk ships due for delivery in 2008 and 2009, for US$123 million.

Eucon gives Q4 profit alert

EUCON Holdings said 'lower demand for laser drilling' would adversely affect its fourth-quarter performance. But due to a one-off gain from the sale of a stake in subsidiary Shanghai Zhuo Kai, it expects to remain profitable for the full year.

Centraland seeks SGX mainboard listing

CENTRALAND, a China-based premium brand property developer, is seeking a mainboard listing and has lodged its preliminary prospectus with the Monetary Authority of Singapore.