Briefing

KLW acquires another property in Melbourne

DOOR-MAKER KLW Holdings said it plans to acquire a five-storey property in Melbourne, Victoria, Australia for A$12.5 million (S$13.3 million) to be funded through internal resources and debt. This marks a continuation of the firm's foray into the real estate business, following an acquisition of a property in Melbourne last September. It also announced the incorporation of two subsidiaries for the group's development of its property business - Ambertree Lincoln and Ambertree Development.

Blumont and Celsius Coal terminate deal

Blumont Group, through a deed with Celsius Coal, has terminated the investment agreement to subscribe to some 8.7 per cent in the Australia-listed mining firm. It has also terminated a convertible note deed under which Blumont has advanced A$3.5 million and US$300,000 to Celsius.

As a result of the scrapped deal, Celsius will issue 177.15 million new shares to Blumont, which will raise its stake in the Australian firm to 14.5 per cent.