Addvalue Receives Strategic Investments By Pytheas Of Up To $94.69m
Addvalue Technologies, a leading provider of satellite communication, tracking and telemetry solutions and digital wireless design services, has inked an investment agreement with Pytheas (Cyprus), part of the Pytheas conglomerate, a premier international investment management organisation, whereby Pytheas will invest up to $94.69m in the company. The investment will be carried out in two phases, with $37.95m to be received in phase 1 and the remaining in phase 2. Pytheas will become the single largest shareholder of Addvalue with up to 51.56% equity stake after the investment.

Sunpower Clinches Rmb56m Contract From PRC’s Top 10 Steel Producer
Mainboard-listed Sunpower, a PRC-based heat transfer technology specialist, has inked a Rmb56m waste-heat recovery contract with LaiGang, one of the top 10 steel producers, through its unit, Nanjing Shengnuo Heat Pipe. Sunpower is contracted to design, construct and install a waste-heat recovery system, which is due for delivery in 2H09 and it is expected to contribute positively to FY09 performance.

SGX And Fujian Provincial Government Sign Listing MOU
SGX has signed a Memorandum of Understanding (MOU) with the Fujian Development and Reform Commission Office (FDRC) of the Fujian Provincial Government in PRC. The MOU aims to further promote the listings of Fujian enterprises on SGX. FDRC will provide guidance to potential listing aspirants and facilitate regulatory processes and approvals from relevant PRC authorities where necessary.

RSH Acquires Progolf International
RSH has, through its unit RSH (Middle East), bought over Progolf International completely by acquiring the remaining 25% shareholding in Progolf at cash US$1m.

Olam To Acquire Sugar Mill Assets In India For US$9.9m
Olam International, a leading global integrated supply chain manager of agricultural products and food ingredients, will acquire the sugar milling complex from Giridharilal Sugar and Allied Industries in India for cash US$9.9m. This move is in line with the company’s strategic plan to expand its value chain participation by building a configuration of sugar milling and refining assets globally.

KS Energy Receives Extensions For Two Contracts Worth Up To $154.3m
KS Energy Services has received 2 contract extensions for the accommodation jackup rigs, the Atlantic Rotterdam and the management contract for the Safe Esbjerg for operation in North Sea, totaling up to $154.3m, including options. The two contract renewals, from Maersk, a large oilfield operator in Denmark, will be managed and executed by the company’s unit Atlantic Marine Services BV operating in Amsterdam and Esbjerg.

ElectroTech Investments Proposes To Acquire ETLA
ElectroTech Investments has proposed to acquire all the shares in the capital of ETLA in consideration for the allotment and issue of shares in the capital of the company to the shareholders of ETLA, resulting in merger of both companies. Both companies believes a strong strategic fit lies between them and the proposed merger will create a compelling manufacturing partnership for their customers and thus enhance value for the shareholders of both companies. The proposed acquisition is subjected to approvals from both companies’ shareholders.

Beyonics Tech Acquires 80% Equity Stake In Wealth Preview
Beyonics Technology has, through its indirect unit, Beyonics Precision Machining, inked a sale and purchase agreement to acquire 80% equity stake in Wealth Preview for RM1.6m. The acquisition represents a strategic step taken by the company in securing a long term provision of services for the surface treatment and coating of aluminium parts to meet the production requirements of its precision engineering services division. This acquisition is expected to reduce the dependency of such services from third parties.