sale

Najib's associate charged over French submarine deal linked to murder of Mongolian translator

AFP file photo

PARIS (Aug 2): A close associate of Malaysian Prime Minister Najib Razak has been charged in France over alleged kickbacks in the 2002 sale of submarines to his country, a judicial source told AFP on Tuesday.

Abdul Razak Baginda (AFP file photo) advised Najib when the now-prime minister was defence minister between 2000 and 2008. Najib oversaw the deal worth nearly one billion euros (US$1.18 billion) to buy two Scorpene-class submarines and one Agosta-class submarine from French naval dockyards unit DCN, which is linked to French defence group Thales.

Noble preps for a sale. Or at least its bonds do: Bloomberg Gadfly

Noble

SINGAPORE (March 7): If you believe the bond documents, Noble Group really is for sale.

The Singapore-listed commodities trader raised US$750 million ($1 billion) selling dollar notes Monday that mature in five years. A clause provides for immediate repayment if the company is acquired. But that would only be triggered if Noble were rated investment grade at the time.

Fan Bing Bing’s manager buys stake in mm2 Asia

SINGAPORE (Jan 19): Timothy Mou, the manager of Chinese actress Fan Bing Bing, has acquired 10 million shares in mm2 Asia at 48.5 cents each, through a sale of vendor shares by mm2 Asia’s CEO and executive chairman Melvin Ang.

Mou is the co-founder of Fan Bingbing Studio, the CEO of Wuxi Ai-mei-shen Film & TV Cultural, and the CEO of a joint venture between Wuxi Ai-mei-shen and Zhejiang Talent Film & TV which produces the RMB 500 million ($104 million) drama series "Ying Tian Xia". Fan is the lead actress and executive producer of the drama.

GLP confirms in prelim discussions for possible sale of company

SINGAPORE (Jan 5): Global Logistic Properties has confirmed that it is in preliminary discussions with various parties regarding the possible sale of the company.

(See also: GLP said to seek bids for $11.3 bil company)

GLP said to seek bids for $11.3 bil company

SINGAPORE (Jan 5): Global Logistic Properties has begun formally reaching out to potential bidders for the US$7.9 billion ($11.3 billion) industrial property owner, people with knowledge of the matter said.

The Singapore-based company sent out an information letter to targeted bidders at the end of last month and has asked for first-round offers by early February, according to the people. GLP attracted interest from suitors after announcing a strategic review in December, one of the people said, asking not to be identified because the information is private.

Temasek’s Mediacorp said to weigh sale of 1-Net data centre unit

SINGAPORE (Nov 22): Mediacorp, the broadcaster owned by Singapore state investment firm Temasek Holdings, is considering a sale of its data centre unit 1-Net, people with knowledge of the matter said.

The company is inviting suitors to submit non-binding bids for the business, which could fetch about US$200 million ($285 million), according to the people. A sale could take place next year, one of the people said, asking not to be identified as the information is private.

UOB fancies UE as takeover rumours swirl

SINGAPORE (Nov 4): UOB Kay Hian is maintaining its “buy” call on United Engineers with a higher target price of $3.06 as the property group gears up for a possible sale.

In a Monday report, analyst Edison Chen notes that 3Q16 results were within expectations, with net gearing falling to 27.8% after disposals of MFlex and its environmental engineering business.

For UE’s continuing operations, Chen expects outlook to remain lumpy, as the property business now forms the bulk of the business moving forward.

United Engineers sale a boon for investors

SINGAPORE (Oct 27): UOB Kay Hian has initiated coverage on United Engineers (UE) , rating it a “buy” call with a target price of $2.96, citing the sale of the OCBC and Great Eastern stake a matter of when and not if.

(See also: OCBC and Great Eastern confirm reviewing options with United Engineers stake)

Heeton disposes [email protected] to private investors

SINGAPORE (Oct 2): Boutique developer Heeton Holdings has sold [email protected], its property development at 74 Grange Road, to a group of Singaporean private investors.

This was done through the sale of a 100% stake in Heeton Residence which is the sole shareholder of Heeton Realty which owns the property.

OCBC and Great Eastern confirm reviewing options with United Engineers stake

SINGAPORE (Sept 26): Oversea-Chinese Baking Corp (OCBC) and insurance arm Great Eastern Holdings confirmed they are reviewing strategic options with respect to their combined stakes in United Engineers.

This announcement follows an earlier Bloomberg news report that OCBC and Great Eastern were in talks to sell their stake in the property and construction company.

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