SG briefs: Dyna-Mac, GEAR, Thakral, Hong Lai Huat

Anthracite, a type of coal. Credit: Joey Harris on UnsplashAnthracite, a type of coal. Credit: Joey Harris on Unsplash

Singapore company briefs: Dyna-Mac Holdings, Golden Energy and Resources (GEAR), Thakral Corp. and Hong Lai Huat Group.

Golden Energy and Resources (GEAR)

Golden Energy and Resources (GEAR) said Tuesday its subsidiary, Stanmore Resources, has completed the acquisition of 80 precent of BHP Mitsui Coal (BMC) from BHP Minerals.

“BMC will complement our current metallurgical coal platform to include high quality, low cash cost reserves with long mine life, which are well developed, capitalised and are cash generating in Australia. With this successful completion, GEAR will become one of the largest global producers of metallurgical coal via Stanmore and expects significant contributions from this segment going forward,” Fuganto Widjaja, executive chairman of GEAR, said in the statement filed to SGX.

Read more: Golden Energy to acquire 80 percent of BHP Mitsui Coal for as much as US$1.35B

Dyna-Mac Holdings

Dyna-Mac Holdings said Wednesday it has been awarded a firm contract provisionally valued at S$180 million from a long-running repeat customer.

The contract is for building topside modules for a floating production storage offloading (FPSO) vessel, with work to begin in the fourth quarter of this year and completion set for the first quarter of 2024, the company said in a filing to SGX.

The new order win brings the net orderbook to date to S$641.1 million, a record, the company said.

Thakral Corp.

Thakral Corp. clarified Tuesday that GemLife, its joint venture with the Puljich family for developing over-50s lifestyle resorts in Australia, is in advanced negotiations with the Puljich family on a potential merger of their Living Gems business with GemLife.

The valuation of the combined group has not been finalized, Thakral said in a filing to SGX, noting that an Australian Financial Review (AFR) article had claimed it would have a “multi-billion dollar valuation.”

Hong Lai Huat Group

Hong Lai Huat Group said Wednesday it has entered a term sheet to sell up to US$50 million worth of residential and commercial units in its D’Seaview mixed-use development in Cambodia to Fabi Capital, which is a real estate management and blockchain services company aiming to use non-fungible token (NFT) technology for property investments.

Fabi Capital will raise funds for the acquisition via selling tokens and NFTs, with the property sales to take place in 10 scheduled tranches of US$5 million each, Hong Lai Huat said in a filing to SGX.