Singapore Corporate News - 25 Dec 2007

RH Energy to buy Hunan Baili for 90m yuan

CHINA-BASED oil and gas equipment integration service provider RH Energy has entered into an agreement to acquire a 100 per cent stake in Hunan Baili Engineering Science and Technology for 90.18 million yuan (S$17.8 million).

The firm is a Class-A design company that provides engineering design, investigation, consultation and related services. It was an affiliate of Sinopec Baling Petrochemical when it was first starting out. But the company has since gone on to successfully take on over 1,200 projects, either on its own, or in collaboration with other international companies.

Babcock ups railcar exposure

BABCOCK & Brown Structured Finance Fund (BBS) has put in an additional investment of US$15 million in Babcock & Brown Rail North America (BBR).

Following the additional investment, BBS has a 41.5 per cent Class A membership interest and a total investment in BBR of US$53.6 million, the fund said yesterday.