Singapore Corporate News - 7 Dec 2007

Allgreen takes on 7 China developments

ALLGREEN Properties of Singapore is set to move into China in a big way with seven commercial and residential developments together with Hong Kong publicly listed companies Kerry Holdings and Kerry Properties. All the companies are controlled by Malaysian tycoon Robert Kuok.

The projects, which have a total investment amount of 29.3 billion yuan (S$5.73 billion), will be in the cities of Hangzhou, Chengdu, Qinhuangdao and Shenyang.

3 tech firms among region's fastest growing

IN A sign that the Republic has retained its edge as a technology hub, three lesser-known Singapore-based entities have made it to the list of Asia-Pacific's 500 fastest growing technology companies, it was announced yesterday at the Deloitte Technology Fast 500 Asia-Pacific ceremony in Hong Kong.

The three companies are Elixir Technology Pte Ltd, Sunpower Group Ltd, and MediaRing Ltd.
The overall winner this year is Trina Solar Ltd, a Chinese solar energy equipment supplier, which saw more than 27,500 per cent growth in revenue from 2004 to 2007, the highest since the rankings started in 2002.

Elixir Technology, which is in the software industry, saw a more modest 163.86 per cent growth over three years and was ranked overall at 323.

Sunpower Group, which makes energy-saving and environmental protection products, saw a 130 per cent growth during the period and was ranked 395.

MediaRing, which is in the communications and networking business, grew 125.48 per cent over the three-year period and was ranked 409 this year.

Kingsmen clinches $25m F1 contract

KINGSMEN Creatives Ltd has won a five-year $25 million project for the Singapore Formula One (F1) race.

The communications design and production group in Asia Pacific and the Middle East announced yesterday that it has been awarded a contract to fabricate and construct part of the grandstand as well as the corporate suites for the upcoming F1 event.

The contract was awarded by Singapore GP Pte Ltd, the promoter for the SingTel Singapore Grand Prix.

The project is expected to commence immediately. The contract is valued at about $5 million annually, and will run for the next five years.