Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Straits Trading Co Ltd    STCM   SG1J49001550

STRAITS TRADING CO LTD (STCM)
Mes dernières consult.
Most popular
Report
SummaryChartsNewsCompany 
News SummaryMost relevantAll newsSector newsTweets

The Straits Trading Company Limited : Far East Orchard looks to expand beyond Singapore Business Times

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/28/2012 | 08:08am CET



Far East Orchard looks to expand beyond S'pare lt inks non-binding MOU to buy Straits Trading's hospitality management biz

By MINDYTAN

IN A bid to expand its hospi­
tality business beyond Sin­
gapore, Far East Orchard
Rendezvous Studio Hotel Perth Centrai, Rendezvous Grand Hotel Melbourne and Rendezvous Hotel Perth.
STC will bave the right to subscribe up to 20 per cent of the share capitai of the enlarged hospitality management company of
Separately, Far East Hos­ pitality Trust (Far East H-Trust), Astor Properties, and STC have entered a non-binding MOU to ac­ quire STC's Rendezvous Grand Hotel Singapore and its retail component, Ren­ dezvous Gallery Singapore. ln addition, Far East Or­

Spreading wings :FEOrchard will also be looking to acquire a 50% interest in three of Straits Trading's hote[s in Australia. PHOTO: RENDEZVOUS GRAND HOTEL

Limited (FEOrchard) has entered into a non-binding memorandum of under­ standing with The Straits Trading Cornpany Limited (STC) to acquire STC's en­ tire hospitality manage­ ment business.
Under the deal, FEOr­ chard will also be looking to acquire a 50 per cent in­ terest in three of STC's ho­ tels in Australia, namely
FEOrchard.
Assuming the transac-· tions follow through, the ex­ paJ1ded portfolio will con­ sist of more than 30 hotels and service residences with more than 6,000 rooms un­ der management, with a presence across Australia, New Zealand, China, Malay­ sia and Singapore, said FE­ Orchard's group CEO and managing director, Lucas Chow.
ganization (FEO) is explor­
ing the proposed acquisi­
tion of the reversionary in­ terest for the remaining leasehold period in the property.
Conditional upon the completion of the transac­ tions, Far East H-Trust has also entered into a separate non-binding MOU with FEO to grant a master lease of the hotel component to the
sponsor as rnaster lessee

under a master lease agree­

ment.

Rendezvous G rand Ho­ tel Singapore is a 4.5 star hotel with 298 rooms. Ren­ dezvous Gallery Singapore, the hoteJ's revamped retail wing, has three levels of re­ tail space dedicated to din­ ing.

The proposed transac­ tions are not expected to have a materia!impact on
Far East Hospitality Trust's
financial performance for

the fiscal year ending Dee

31. 2012.

Straits Trading called for a halt in the trading of its shares last Saturday, over a week after it posted a Q3 net loss of $4.1 mil­ lion. For the nine months ended Sept 30, 2012, it made a net loss of $15.7 million.

It said the poor numbers
were due mainly to net loss­

es from its resources and hospitality operations. even though it earned a profit

.from its property opera­

tions.

Straits Trad.ing shares

closed at $3.20 on Friday.

Far East H-Trust ended yes­

terday down half a cent at

97.5 cents.

or STC makes generai offer for WBL Corp, Page 10
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on STRAITS TRADING CO LTD
12/08 STRAITS TRADING : 投资者套利离场 Ę..
12/08 STRAITS TRADING : ST Company Briefs The Straits Times (Print)
08/28 COMPANY BRIEFS : The Straits Trading Company The Straits Times (Online)
08/28 STRAITS TRADING : lifts earnings despite sharp fall in turnover The Straits Time..
08/28 STRAITS TRADING : MSC returns to the black despite lower turnover The Star (Onli..
08/28 STRAITS TRADING : posts 28.7% rise in Q2 profit The Business Times (Online)
08/28 STRAITS TRADING : Malaysia Smelting back in the black in 2Q, registers RM9 mil n..
07/19 STRAITS TRADING : Debt - Listing Confirmation - S$150,000,000 3.73% Notes Due 20..
06/14 STRAITS TRADING : Malaysia Smelting Corp paying out dividend after five-year bre..
06/14 STRAITS TRADING : buys stake in Sydney office building for A$119m Business Times..
More news
Chart STRAITS TRADING CO LTD
Duration : Period :
Straits Trading Co Ltd Technical Analysis Chart | STCM | SG1J49001550 | 4-Traders
Managers
NameTitle
Gek Khim Chew Executive Chairman
Sock Koon Yeo Chief Financial Officer
Steven Ang Vice President-Information Technology
Gek Hiang Chew Non-Independent Non-Executive Director
Kay Yong Goh Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
STRAITS TRADING CO LTD19.59%0
SOUTHERN COPPER CORP31.47%32 722
GMK NORIL'SKIY NIKEL' PAO--.--%27 996
CHINA MOLYBDENUM LUOYANG CO LTD82.26%20 471
SUMITOMO METAL MINING CO., LTD.189.52%11 119
BOLIDEN11.73%8 542