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 Post subject: HOE LEONG CORPORATION LTD.
PostPosted: November 8th, 2009, 9:50 pm 
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JOINT VENTURE

The Board of Directors of HOE LEONG CORPORATION LTD (“the Company”) is pleased to announce that the Company has signed another Joint Venture Agreement (“JVA”) with Supreme Oilfield Services Pte Ltd (“SOS”) to further develop its business in the oil and gas industry.

SOS is a company incorporated in Singapore in 1981 and is involved in the charter of vessels and other equipment to the oil and gas industry. The Company has acquired shares in the joint venture entity “Supreme Voyager Pte. Ltd.” (“SVPL”), a company incorporated in Singapore. SVPL will be principally engaged in the business of owning, chartering and managing all types of offshore equipment and vessels of all kinds and other related activities including offshore supply vessels to be used in drilling and other offshore projects. SVPL has signed a Memorandum of Agreement to acquire an offshore supply vessel from Jaya Shipbuilding and Engineering Pte Ltd at a price of US$18,000,000.00. This vessel, JAYA VOYAGER is to be renamed SUPREME VOYAGER. SVPL has at hand a contract to employ this vessel in an offshore drilling project, for a period of 3 years with option for two further extensions of 1 year each.

Pursuant to the JVA, the issued capital of SVPL will be US$1,500,000.00 divided into 1,500,000 shares. SOS will invest US$450,000.00 (30%) and the Company will invest US$1,050,000.00 (70%) in the share capital of SVPL. SVPL is a subsidiary of the Company.

The joint venture will be partly funded from the proceeds of the recently completed Private Placements and financing from financial institution. The board of directors of SVPL will comprise of 5 directors. SOS will appoint 2 directors and the Company will appoint 3 directors to SVPL’s board of directors.

The directors do not anticipate that the transaction/investment in SVPL will have any material impact on the earnings of the Company’s current financial year.

None of the substantial shareholders or directors of the Company has any interest, direct or indirect, in the aforesaid joint venture, save through their shareholdings in the Company.

On Behalf of the Board
Kuah Geok Lin
Chairman and Chief Executive Officer
4 November 2009

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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: January 5th, 2010, 10:38 pm 
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Date of Trading Halt * 06-01-2010
Time of Trading Halt * 0900 hours
Reasons for Trading Halt * Pending the release of an announcement.


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: January 7th, 2010, 10:08 pm 
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Hoe Leong buying 49% stake in M'sian tanker business - SINGAPORE-listed Hoe Leong Corporation has unveiled plans to acquire 49 per cent of Semua Group - the tanker business of Malaysia-listed Sumatec Resources Bhd - for RM51.45 million (S$21.1 million).


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: January 14th, 2010, 5:31 pm 
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25,000,000 NEW ORDINARY SHARES IN THE CAPITAL OF HOE LEONG CORPORATION LTD. - UTILISATION OF PROCEEDS

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: February 23rd, 2010, 10:16 pm 
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FULL YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

HOE LEONG RECORDS SIGNIFICANT GROWTH IN NET PROFIT AFTER TAX AND MINORITY INTEREST TO S$ 4.5 MILLION IN FY2009
• FY2009 revenue decreased slightly by 5.4% year-on-year to S$61.2 million from S$64.7 million in FY2008 due to decrease in revenue derived from Trading and
Distribution business segment
• Gross profit for FY2009 decreased slightly by 3.9% to S$ 18.9 million but Gross profit margin remained stable at 30.9% compared to 30.4% in FY2008
• Net profit after tax and minority interest at S$4.5 million, up from S$0.2 million in FY2008


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: April 13th, 2010, 10:48 pm 
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GRANT OF OPTIONS PURSUANT TO THE HOE LEONG SHARE OPTION SCHEME 2009

http://info.sgx.com/webcoranncatth.nsf/ ... penelement


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: May 5th, 2010, 10:46 pm 
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ACQUISITION OF AN INTEREST IN THE TANKER BUSINESS OF SUMATEC RESOURCES BERHAD AND PRESS RELEASE

HOE LEONG ACQUIRES STAKE IN MALAYSIAN TANKER CHARTERING BUSINESS

Acquisition boosts Hoe Leong’s competitive position as a vessel charterer for the Oil & Gas sector.

SINGAPORE, 5 May 2010 – Mainboard-listed Hoe Leong Corporation Ltd. (“Hoe Leong” or the “Company” and together with its subsidiaries, the “Group”), a supplier of heavy equipment parts and vessel charterer, would like to announce that its majority-owned Malaysian subsidiary Ebony Ritz Sdn Bhd (“SPV”) has entered into a conditional sales and purchase agreement with Sumatec Resources Berhad (“Sumatec”) to acquire a stake in the Semua group, which is the tanker chartering business of Sumatec (“Acquisition”).

The SPV was set up to acquire a 49% equity interest of Semua International Sdn Bhd (“SISB”) for an aggregate cash consideration of RM44.1 million (approx. S$18.9 million). The SPV is 80% owned by Hoe Leong and the remaining 20% is owned by Auspicious Journey Sdn Bhd, a Malaysia incorporated company and wholly-owned subsidiary of Grand Columbia Holdings Sdn Bhd. As such, Hoe Leong’s share of SISB will effectively be 39.2% representing its 80% stake in the SPV and its share of the consideration will amount to RM35.3 million (approx. S$15.1 million).


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: July 5th, 2010, 9:01 pm 
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ESTABLISHMENT OF A JOINT VENTURE COMPANY AND PRESS RELEASE- KUNSHAN XINYILONG MACHINERY MANUFACTURING CO., LTD

• JV company with Italian partner is part of heavy equipment parts business expansion

SINGAPORE, 5 July 2010 – Mainboard-listed Hoe Leong Corporation Ltd. (“Hoe Leong” and together with its subsidiaries, the “Group”), a supplier of heavy equipment parts, is pleased to announce that its wholly-owned subsidiary, Kunshan Kanto Buhin Manufacturing Co., Ltd (“Kunshan Kanto”), has signed a Joint Venture (“JV”) contract with Valuepart Europe SPA (“VE SPA”) to set up a JV company, Kunshan Xinyilong Machinery Manufacturing Co., Ltd (“Kunshan Xinyilong”) for the purpose of expanding its heavy equipment parts business.

The registered capital of Kunshan Xinyilong will be US$6 million. VE SPA will invest US$3 million (50%) in cash and Kunshan Kanto will invest US$3 million (50%) – comprising assets valued at US$1 million and the RMB cash equivalent of US$2 million which may also be in part or in full executed with other assets, subject to written approval of VE SPA.


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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: July 5th, 2010, 10:58 pm 
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July 5, 2010, 5.58 pm (Singapore time)

Hoe Leong in jv with Valuepart Europe
By ANGELA TAN

Hoe Leong Corporation Ltd, a supplier of heavy equipment parts, said on Monday that its unit has signed a joint venture contract with Valuepart Europe SPA to expand its heavy equipment parts business.

The jv company, Kunshan Xinyilong Machinery Manufacturing Co., Ltd, will have a registrered capital of US$6 million.

Valuepart is one of the major distributors of undercarriage components in the world and possesses the technology required for providing undercarriage components. In addition to its presence in Europe, the Valuepart also has a strong distribution network in the US and Canada.

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 Post subject: Re: HOE LEONG CORPORATION LTD.
PostPosted: August 11th, 2010, 11:32 pm 
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HALF YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

http://info.sgx.com/webcoranncatth.nsf/ ... ne2010.pdf

HOE LEONG HY2010 NET PROFIT ATTRIBUTBLE TO OWNERS OF COMPANY GREW 276.8% TO S$3.0M
• Revenue in HY2010 rose 13.5% to S$32.8 million due to increase in revenue from all business segments
• Gross profit for HY2010 gained 30.1% to S$11.6 million, and gross profit margin rose 4.6% to 35.4% correspondingly
• As a result of revenue and gross profit improvement as well as stable operating expenses, net profit attributable to owners of the Company increased 276.8% to S$3.0 million


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