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1. VIKING Offshore and Marine on Tuesday said it has signed an agreement with Luminor Pacific Fund 1 Ltd to issue Luminor S$12.5 million in redeemable exchangeable bonds.
This is to help the company fund its purchase of a land rig from Beijing Forpetro Sino-Rig Co, it said. Assuming all the bonds are exchanged at the maximum price of S$0.175, the company will have to issue more than 71.4 million exchange shares, it said.
2. SPH Reit on Monday evening reported an income distributable to unitholders of S$34.9 million for the fourth quarter ended Aug 31, 2014. This translates to a distribution per unit of 1.39 Singapore cents for the quarter - 6.1 per cent higher than forecast in its initial public offering.
The Reit's Q4 net property income at S$38 million exceeded forecasts by 5.6 per cent, while gross revenue at S$51.1 million beat forecasts by 2.6 per cent.
3. Lian Beng Group on Monday reported a 58.5 per cent surge in net profit to S$11.97 million for its fiscal first quarter ended Aug 31, on the back of strong construction orders previously clinched.
Group revenue rose 10.8 per cent to S$167.64 million over the same period, due mainly to an increase in revenue generated from the construction segment and workers' dormitory business, which more than offset the decrease in revenue in the ready-mixed concrete segment, it said.
4. Keppel Land on Monday said it is moving into the second phase of its SM-KL project in the Philippines - a joint venture between Keppel Philippine Properties and Banco de Oro (BDO), the banking arm of the SM Group.
This second phase comprises a 42-storey office building and an extension of an existing five-storey retail component called The Podium. This phase's construction cost comes up to S$336 million. The new office tower will offer a net leasable area of more than 89,000 square metres of premium grade office space, while the expansion of the retail mall will add more than 34,000 square metres of retail space.