Yoma releases new units for sale at Star City

Yoma Strategic Holdings is releasing 433 new apartment units at its illustrious Star City residential development situated on a 135-acre site in Thanlyin Township in Yangon.

The exclusive residential units are available to the public for purchase on 23 November from 10am Yangon time, with simultaneous booking of units at three locations – Star City’s Singapore sales gallery, Yangon Thanlyin sales gallery, and the Mandalay Hill Resort Hotel in Mandalay.

“A large number of potential buyers are already on the waiting list for these very affordable newly-released apartments, and we expect a quick take-up rate since this is the last opportunity to purchase units in Zone B,” said Elmar A. Busch, Managing Director of Yoma Strategic’s real estate division.

The new units are located in buildings B-3 and B-4, and are the last units available in Zone B at Star City. Zone B is the second phase of the estate which Yoma Strategic commenced construction on in April this year, and which it aims to complete by the first quarter of 2016.

The 23 different types of apartment suites at Star City residences offer a selection of size and design, from 642 square feet to 3,374 square feet of living space; offering either a spectacular river view, court yard view or lake view. Prices start at US$80,000 for a one-bedroom to around US$450,000 for the largest four-bedroom apartments.

Zone B of Star City is constructed by renowned global infrastructure conglomerate Bouygues S.A., through the joint venture between SPA Project Management and Dragages Singapore, BYMA.
http://www.theedgesingapore.com/the-daily-edge/business/46421-yoma-releases-new-units-for-sale-at-star-city.html

Thanlyin speculation reaches a new limit

The proposed special economic zone in Thanlyin and Kyauktan townships in Yangon, given further impetus by the visit to the area by Japanese Prime Minister Shinzo Abe in May, has brought sales to a halt, realtors say.

However, buying and selling has not stopped as a result of government action to bring down land prices but because the owners are holding out for even higher prices, agents say.

“The market in Thanlyin has been hot for several years but accelerated sharply early this year,” said Ko Aung Zaw Moe, an independent real estate agent.

“After the Japanese prime minister visited the area prices skyrocketed but many owners are refusing to sell because they are waiting for higher prices.”

He added that some owners are asking impossibly high prices for land.

U Khin Maung Aye, an agent with realtor Shwe Kan Myae, said land prices within the development project have doubled in one year, from about K150 million an acre to K300 million to K350 million an acre.

“Owners are asking impossible prices because they know that big businesses are going to move in and will need land,” he told The Myanmar Times.

“But they’re holding onto land because they are confident that prices will keep rising.” He added that land prices are also rising near Yangon East University in Thanlyin township.

“Prices have doubled in Thanlyin in a year,” he said. “Land with permits to built houses on are priced from K10 million to K35 million for a 2400-square-foot plot,” he said.

Ko Naing Myo Oo, an agent with Estate Myanmar, said prices downtown have also doubled.

“Thanlyin township was not a good place to own property in the past,” he said. “Previously, an acre of land beside the road could be bought for half the current price.” However, he added that owners of land registered for farming are not selling it. “They want to wait for prices to rise even further,” Ko Naing Myo Oo said.

Thilawa Special Economic zone will cover 6000 acres, about 2400 hectares, in Thanlyin and Kyauktan townships. The first phase of the project, including a deepwater port on the Yangon River, is scheduled to be build by 2015.

http://www.mmtimes.com/index.php/business/property-news/7476-thanlyin-speculation-reaches-a-new-limit.html

US could run out of cash in March under debt ceiling: CBO

The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.

The Obama administration was able to bump against the government's debt ceiling for five months this year before it came to the brink of default.

Mr Obama signed into law a bill last month that suspended a US$16.7 trillion cap on the national debt until Feb 7, when it will reset to whatever level the debt has reached.

Absent a decision to raise it again, the Treasury Department has tools to manage its cash a little longer before it starts missing payments.

http://www.businesstimes.com.sg/breaking-news/world/us-could-run-out-cash-march-under-debt-ceiling-cbo-20131121

CIVMEC secures a further SGD$65 Million in new contracts

Civmec Limited subsidiary, Civmec Construction & Engineering

Pty Ltd, an Australian based integrated multi-disciplinary heavy engineering service provider, is

pleased to announce further new contract awards in addition to the recently announcement of

SGD$210 million of new contracts.

The latest additional combined contract value is circa of SGD$65 million and comprises the following:

Existing Client:

• Nammuldi Below Water Table (NBWT) project is for Rio Tinto. This is a significant award as it

is our first vertical contract package comprising off-site procurement, fabrication,

modularisation, delivery, onsite civil work, SMP works and Electrical and Instrumentation

works for the stockyard conveyor systems and Train loadout system. The work will

commence immediately with construction commencing in January 2014 for completion in

October 2014.

New clients:

• BOC Limited (a member of The Linde Group). A civil contract for the construction of a state of

the art air gas liquefaction plant, to replace an existing air separation unit and nitrogen

liquefaction unit at its Kwinana site, located approximately 40km south of Perth. Work on the

project has commenced with completion scheduled for April 2014.

• Crushing Services International Pty Ltd (CSI) for the supply of precast sleepers for the

Nammuldi Below Water table (NBWT) project.

• Holcim (Australia) Pty Ltd for the supply and erection of structural steel for the upgrade of

their concrete plants in the Perth region.

Several existing contracts also increased in scope.

Civmec CEO Pat Tallon said “We are pleased to maintain our momentum and service scope through

securing significant contracts on key resource projects with our existing clients, and we are equally

pleased with establishing and building our relationships with our new clients. These contract awards

demonstrate the diversity of Civmec’s core capabilities which enable us to deliver vertically integrated

turnkey solutions”.

About CIVMEC Limited

We are an Australian-based integrated multi-disciplinary heavy engineering services provider to the oil

and gas, mining and other industries, such as the infrastructure, utilities, chemical and power

industries. We provide heavy engineering and other services including metal and structural

fabrication, site civil works, pre-cast concrete and maintenance services.

 For more information, please visit our website at www.civmec.com.au

http://files.shareholder.com/downloads/AMDA-11PGYB/2800311599x0x707849/ee7d3294-ac7c-4e03-bdde-03d9b2e81aef/707849.pdf

SingHaiyi Buys Commercial Condominium Development Project In San Jose, California

Singapore, 18 November 2013 - SingHaiyi Group Ltd. ("SingHaiyi" or the "Company") announced today that it has successfully acquired the full equity stake of Vietnam Town ("VT"), a partially completed commercial condominium development project in San Jose, California, U.S.A., which was placed under receivership, for US$33.05 million.

Acquired via a trustee’s auction conducted on 14 November 2013, VT marks SGX-Catalist listed SingHaiyi’s second acquisition of distressed U.S. real estate following the acquisition of Tri-County Mall ("TCM") in Cincinnati, Ohio, for US$45 million announced on 30 September 2013.

 

SingHaiyi said its acquisition price of US$33.05 million– already settled in full by the Company – includes US$29.8 million to repay an outstanding secured debt, and the balance US$3.25 million for the freehold project, comprising several parcels of land sitting on a total site size of 853,502 square feet.

 

Of the 256 planned condominium units – each about 1,000 square feet – 115 have been built, of which 64 have been sold. Launched in 2005, the project went into difficulties in 2009 and was subsequently placed under receivership when its developer lost funding for the project.

Strategically located in a mixed-use neighbourhood, the project has nine blocks including a parking structure. It lies close to transportation networks, retail and commercial facilities.

SingHaiyi intends to sell the 51 unsold units in the next one to two years and use the sale proceeds to construct and sell the remaining 141-units within the next three to five years.

The total project outlay of US$33.05 million has been funded by proceeds raised from a recent rights issue and share placement exercise that was undertaken as part of the Group’s strategy to expand its real estate investment activities to the United States.

SingHaiyi’s Non-Executive Chairman, Mr. Neil Bush, said, "Vietnam Town is the second U.S. real estate project which SingHaiyi has acquired since shareholders approved its strategy to diversify investment to the United States. We believe both projects are significantly undervalued and will certainly enhance shareholder value."

"While acquisitions at auctions require cash and quick execution, we will be looking to tap bank financing. Our investment strategy combines rental income, capital gains and development profits so as to enhance returns," he said. "We are looking out for other projects which can offer exceptional returns."

TCM, a major shopping mall in downtown Cincinnati sitting on a total site size of 76.1 acres, was acquired at a court-ordered auction on 19 September 2013. The operational mall was purchased free of debt and encumbrances at US$45 million, a 77% discount to the unaudited net book value as at 30 June 2013.
SingHaiyi on 12 November 2013 announced a net profit of S$8.4 million for the six months ended 30 September 2013, reversing a loss of S$1.0 million a year ago. The profit included a gain on bargain purchase of S$12.8 million from the acquisition of TCM, as well as one month of rental income from the mall.

http://infopub.sgx.com/FileOpen/SHG_Vietnam_Town_Press_Release_E.ashx?App=Announcement&FileID=264806
  

Olam International - 2 reasons why investors should take caution

Despite EBITDA growth across all segments.

Olam International grew its core profit by 28% yoy to S$42.3m in 1QFY14, slightly beating expectations, but DBS Vickers cautioned that investors that "we would like to monitor its earnings delivery and sustainability of cash flow improvement for another quarter or two before turning positive on the counter."

Still, management insisted on a positive outlook ahead, claiming that while operating environment remains challenging, Olam is expected to see earnings growth stemming from previous investments.

Net gearing, which stayed at 1.93x as of end Sept, will be kept below its 2x ceiling. Olam generated positive free cash flow to firm (FCFF) of S$46m (vs deficit of S$707m in 1Q13) this quarter, said DBS.

"Further unlocking value of past investments, slower capex pace and higher operating cash flow should keep its positive FCFF in check," said DBS

"The recently announced sale and leaseback of Australoia Almond Orchards is expected to free up A$200m cash and generate one-time post tax capital gain of A$45m when finalised by 3Q14," it added.

 See more at: http://sbr.com.sg/agribusiness/news/2-reasons-why-olam-international-investors-should-take-caution

Janet Louise Yellen nominated to be Chair of the Federal Reserve

Janet Louise Yellen (born August 13, 1946) is an American economist and professor who is the Vice Chair of the Board of Governors of the Federal Reserve System. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, Chair of the White House Council of Economic Advisers under President Bill Clinton, and Professor Emerita at the University of California, Berkeley's Haas School of Business. On October 9, 2013, President Barack Obama nominated Yellen to be Chair of the Federal Reserve. If confirmed, Yellen would be the first woman to hold the position.

Vice Chair of the Federal Reserve System
Incumbent
Assumed office October 4, 2010
President	Barack Obama
Preceded by	Donald Kohn
Chair of the Council of Economic Advisers
In office February 18, 1997 – August 3, 1999
President	Bill Clinton
Preceded by	Joseph Stiglitz
Succeeded by	Martin Baily
Personal details
Born	Janet Louise Yellen (1946-08-13) August 13, 1946 (age 67) Brooklyn, New York, U.S.
Political party	Democratic
Spouse(s)	George Akerlof
Alma mater	Brown University (B.A.) Yale University (Ph.D.)

Ezion - Ocean Sky International - YHM

Ezion is restructuring its marine supply base business by injecting it into Ocean Sky International (OSI SP, Not Rated). Ezion will acquire 45% of OSI through the issuance of 20.2m new shares (2.1% of enlarged share capital) at an issue priceof S$2.351 (VWAP for 24 Sep 2013). Listed on the Main Board, OSI is essentially a shell company, having recently disposed of its civil engineering, construction and property investment. The acquisition is conditional on OSI having a minimum NTA of US$30m.

 

https://cimbequityresearch.cimb.com/.../GetDocPDF.asp?DocGUID...‎

 

Ezion has proposed to acquire 440m new Ocean Sky shares at issue price of $0.108 a piece (75% discount to the last close at $0.44).

 

The consideration of $47.5m will be satisfied by the issue of 20.2m new Ezion shares (2.2% of Ezion’s enlarged share base) to Ocean Sky. Ezion last closed at $2.37

 

Ezion intends to inject its Australian marine supply base business into Ocean Sky, effectively resulting in a reverse takeover (RTO). The unit, with total net liability of A$3.8m, made a net loss of A$1.5m in FY12 and net loss of $0.7m in 1H13.

 

Ezion also intends to re-designate its existing COO, Captain Larry Glenn Johnson, as the new CEO of Ocean Sky. Ezion will also appoint its Deputy COO, Mr Lee Kon Meng Peter, as the COO of Ocean Sky. Mr Lee is responsible for Ezion’s fleet operations covering liftboats and service rigs and tug & barge operations.

 

In conjuction, Ocean Sky will issue 165m share options (exercise price of $0.108) to Ezion, and another 70m share options to Ezion’s COO, Captain Larry Glenn Johnson.

 

Ocean Sky will also carry out a 60m placement of new shares at $0.341 a piece, to raise net proceeds of $20m, primarily to fund the transaction.

The introducer, Tan Kim Seng, will receive 25m new Ocean Sky shares as payment.
Assuming full dilution effects, Ezion will end up with just over 50% stake in Ocean Sky.

The transaction, which is subject to shareholders’ approval at an EGM, will trigger a mandatory General Offer to be made by Ezion. To this end, Ezion has made an offer for all Ocean Sky shares at $0.108 each. Similar to the YHM precedence, Ezion does not intend to revise its offer price.

http://www.stockandshare.org/ezion-ocean-sky/


CHEW Thiam Keng, CEO of offshore services provider Ezion Holdings, is taking control of YHM Group and preparing to transform it into something more interesting. But investors thinking about jumping in now would need a strong appetite for risk.

http://sg.finance.yahoo.com/news/yhm-soars-ezion-moves-investors-160005301.html
 

ACQUISITION OF BLUMONT SHARES BY CHAIRMAN DESIGNATE - Alexander Molyneux

The Board of Directors of Blumont Group Ltd. (博诺有限公司) (the "Company") refers to the announcement by the Company dated 7 October 2013 (the "Initial Announcement") on the proposed acquisition by Mr. Alexander Molyneux, Chairman designate of the Company, of 135 million issued ordinary shares ("Shares") in the Company (the "Acquisition"). All terms used in this announcement shall bear the same meanings ascribed to them in the Initial Announcement unless otherwise defined herein.

Mr. Molyneux has informed the Company that the parties to the Acquisition have agreed to extend the completion period of the Acquisition by 30 days. The Acquisition is now expected to be completed on or before 6 December 2013.

The Company will update Shareholders on completion of the Acquisition. In the interim, Mr. Molyneux will remain as Chairman designate of the Company

http://infopub.sgx.com/FileOpen/BGL_UpdateAcquisitionofshares_08102013.ashx?App=Announcement&FileID=263305

Mining businessman to buy stake in Singapore's Blumont, become chairman

Mining businessman Alexander Molyneux will acquire a 7.8 percent stake in Blumont Group Ltd (BLUM.SI) and become its chairman, the Singapore-listed diversified holding company.

Molyneux agreed to buy 95 million Blumont shares from Neo Kim Hock, the company's executive chairman, and 40 million from an unnamed individual investor, Blumont said in a stock exchange filing.

The 135 million shares represent 7.83 percent of Blumont's total issued shares on Monday and will be around 5.22 percent of the company's enlarged share capital after the completion of a planned rights issue.

http://www.reuters.com/article/2013/10/07/us-blumont-idUSBRE9960R620131007

SouthGobi Resources fires CEO Alex Molyneux after Chalco drops bid

Mining giant Rio Tinto Ltd. has terminated the chief executive of SouthGobi Resources Ltd., removing one of the only remaining links to the Robert Friedland era in its Mongolian business.

http://business.financialpost.com/2012/09/12/southgobi-resources-fires-ceo-after-chalco-drops-bid/

G & W Group building materials division of Koh Brothers Group

G & W Group Established in 1979, G & W Group is today a renowned one-stop quality building materials provider in Singapore and Asia. The group's core businesses are in providing ready-mix concrete, interlocking paving blocks, cultured stone®, precast concrete products as well as renting and selling concrete pumps. Each core business is assigned and managed by a unique team of professionals.
	G & W Group of companies is the building materials division of Koh Brothers Group Limited which is listed on the main board of the Singapore Exchange Limited. G & W Group has a strong presence in Singapore, China, Indonesia and Malaysia. Together with a strong fleet of equipment and modern manufacturing facilities, the group consistently churns out products and services of supreme quality http://www.gw-group.com/

A Conceptual Approach to Singapore Taxation - Poh Eng Hin

Description

A book on Singapore income taxation and the goods and services tax presented along the lines of a seven-point conceptual framework comprising:

(1) Jurisdiction;
(2) Base;
(3) Allocation;
(4) Person;
(5) Cross-Border Linkages;
(6) Tax Expenditures; and
(7) Administration.

General Information

 

Author: Poh Eng Hin / Deborah M.Y. Poh

(Special thanks to Ms Dora Lim for being the principal author of Appendix 23-1 of the book)

Institution author affiliated to: Nanyang Business School, Nanyang Technological University, Singapore...

(Disclaimer: The views expressed in the book are the author’s own and do not necessarily reflect those of any institution to which the author is affiliated. While every effort has been taken to ensure the accuracy and completeness of the publication, the author expressly disclaims liability for any loss that may occasion to any party from any reliance placed on the work.)

Publisher: Pearson Education

ISBN: 978-981-45-2698-2

Year of publication: 2013 (1st edition)

No. of pages (main content): 922

 

 

 

Table of Contents:

PART 1: INTRODUCTION AND THE CONCEPTUAL FRAMEWORK
Overview of Part 1
Chapter 1: Introduction to Taxation
Chapter 2: The Conceptual Framework and The Legal Framework
Chapter 3: The Conceptual Framework Applied to Income Taxation

PART 2: JURISDICTION
Overview of Part 2
Chapter 4: Defining the Income Tax Jurisdiction
Chapter 5: Defining Heads of Charge
Chapter 6: Determining the Residence of the Person
Chapter 7: Locating the Geographical Source of the Income

PART 3: BASE
Overview of Part 3
Chapter 8: Exemptions
Chapter 9: Deductions
Chapter 10: Capital Allowances
Chapter 11: Quantifying Statutory Income
Chapter 12: Quantifying Assessable Income
Chapter 13: Quantifying Chargeable Income

PART 4: PERSON
Overview of Part 4
Chapter 14: Income Tax Aspects Peculiar to Companies
Chapter 15: Income Tax Aspects Peculiar to Individuals
Chapter 16: Taxation of Partnership Income
Chapter 17: Taxation of Other Entities

PART 5: CROSS-BORDER LINKAGES
Overview of Part 5
Chapter 18: Double Taxation and Tax Treaties
Chapter 19: Residents Receiving Foreign Income in Singapore
Chapter 20: Non-Residents Deriving Singapore Income

PART 6: ALLOCATION
Overview of Part 6
Chapter 21: Further Allocation Issues

PART 7: ADMINISTRATION
Overview of Part 7
Chapter 22: Income Tax Administration

PART 8: TAX EXPENDITURES
Overview of Part 8
Chapter 23: Overview of Income Tax Incentives

PART 9: GOODS AND SERVICES TAX
Overview of Part 9
Chapter 24: Introduction to the GST
Chapter 25: GST in Singapore


ORDER / CONTACT DETAILS:
To order the book or to contact the author, please send a private message via this Facebook page.

https://www.facebook.com/pages/A-Conceptual-Approach-to-Singapore-Taxation/515803501818636

Asiasons 30mins chart as at 7 Nov 2013 1215pm - Channels In Play

Gap support indicated by green band and blue channel mid-band support zone are being tested.

The mid-band of the blue channel was acting as a resistance zone initially as seen by the yellow area and this former resistance band later turned into support band as indicated by the orange regions.

A successful bounce from the blue mid-channel band will see next resistance at the upper zone of the red downward channel being tested. A strong upward breakout above the red channel will propel price towards the upper boundary of the blue.

Conversely, a failure of the blue mid-band support will result in a slide towards the lower support of the red channel and any further weakness will retest the lower blue channel support.

Remember to be as nimble as a deer.

http://advocacy.britannica.com/blog/advocacy/2008/12/the-white-deer-at-the-seneca-army-depot/

Investor Central established by former CNBC presenter Mark Laudi

We ask the questions that need to be asked.

Investors frequently need more information before they can make an informed investment decision - even about companies which fully comply with exchange-mandated continuous disclosure obligations.

We bring investors and companies closer together by fostering improved communications.

Who is behind Investor Central?

Investor Central was established by former CNBC presenter Mark Laudi. During his seven years with the channel, he anchored and produced programs, and covered Southeast Asian and Australian stocks on the stocks desk of Squawk Box. Mark joined CNBC after seven years as a radio presenter, first at Australian Broadcasting Corporation and later on MediaCorp Radio NewsRadio 93.8 (now 938LIVE). He is also a frequent emcee and moderator of investment seminars and business events.

Known for asking tough questions of on-air guests and of speakers at investment seminars, he and his team of reporters get to the heart of the matter to ask the questions investors want answers to. Our philosophy is simple: if a company's announcement gives rise to further questions, they should be asked. The company is always given an opportunity to respond before our publication deadline. If the questions are important enough to be asked, they should be made public - whether the company has answered them or not. And not just listed companies. We also put analyst reports under the microscope. Read on to find out more. http://www.investorcentral.org/company.php

Shipbuilder JES to venture massively into mining

JES International Holdings is massively diversifying from being a major private shipbuilding group based in the PRC to owning mines in the Xinjiang Uygur autonomous region of China.

JES has entered into a conditional investment agreement with Mineriver Pte Ltd for the acquisition of up to a 30% stake in Mineriver for S$127.0 million.

Mineriver is a Singapore-incorporated company which will acquire the entire issued share capital of a Xinjiang company, which holds mineral exploration rights in the Xinjiang Uygur. The mineral exploration rights are with respect to metals and minerals, which includes magnesium and nickel.

Mineriver is expected to obtain the relevant mining rights and operate production lines to manufacture magnesium products.

The Xinjiang company, Xinjiang Feng Li De Yuan Trading Co, had a net value of 381,000 yuan (S$77,590) as at July 31, according to an independent valuation report dated Oct 22 by Xinjiang Tiannuo Zhengxin Assets Appraisal Ltd Co.
The valuation does not include the magnesium and nickel assets of the firm, which are believed to be worth at least $60 billion.

As no proper valuation exercise of the assets has been carried out, the $60 billion was based on internal consensus, JES chief financial officer Patrick Kan told The Business Times.

This is just a yardstick which the owner of the mine and the introducer is confident of reaching," he said. "Based on this $60 billion, compared to the amount we are going to invest, it is very good value."

Read more at http://www.nextinsight.net/index.php/story-archive-mainmenu-60/919-2013/7629-shipbuilder-jes-ventures-massively-into-mining

Blumont 10 mins chart as at 5th Nov 2013 - Symmetrical Triangle Formation

10 mins chart of Blumont as at 5th Nov 2013 1140am.

Symmetrical triangle formation is observed.

Upward breakout will retest next resistance indicated by the yellow zone.  A strong upthrust above this yellow region will probably propel price towards 0.159 cents.

Immediate support is the light blue band. Breakdown below symmetrical triangle lower boundary will plummet price towards violet support zone.

Symmetrical triangle formation will be invalid if breakup or breakdown does not happen before reaching its apex. This failure will most likely result in a trading range between the yellow and light blue bands.

Be alert and nimble. Highly volatile only for the brave and strong hearts.

Civmec - Australia Construction and Engineering Company

Executive Chairman - James Fitzgerald

Founded Ausclad, a privately‐owned insulation, fabrication and cladding company in Western Australia, in 1988.

By 1996, having expanded the company over 200%, he grouped various engineering and fabrication business holdings under the name, AGC Industries.

In December 1997, other Australian industrialists Barry Alfred Carlson, Stuart Maxwell Kenny, and the Bain family incorporated a parent group of engineering services companies, AGC (Ausclad Group of Companies), which acquired 75% of AGC Industries from Fitzgerald in January 1998.

In 2004, it was further restructured under the holding company, AusGroup Limited.

In April 2005, AusGroup listed 49.5% equity on SGX.

With an 11.78% equity stake in AusGroup, Mr Fitzgerald was the third largest shareholder in the company.

He served as an Executive Director of the group until 2008 and stayed on the board as Non-Executive Director until the end of 2009.

http://www.wealthx.com/articles/2012/wealth-x-explores-mr-james-fitzgerald%E2%80%99s-link-to-the-company-he-is-now-competing-with/

Company Headquarters

Headquartered in Henderson, Western Australia – only 35km from Perth and 12km from the port of Fremantle – our waterfront facility is strategically located on 70,000sqm of prime waterfront real estate in the Australian Marine Complex (AMC).

The closeness to the AMC facilities allows us to capitalise and leverage off the existing surrounding infrastructure, such as the 100m floating dock, the 6,000t and 15,000t load out wharves, the large high bay assembly hall and the 4,600t capacity Self Propelled Modular Transporters (SPMT), all of which are situated within the AMC complex.

The workshop has high wide bays designed for the assembly of large modules. We can fabricate, assemble and commission smart modularised structures up to 29m wide x 18m high x 150m long undercover in one location.

http://civmec.com.au/about-us/our-facility/

Company History

Since the early 90’s, Civmec has provided engineering, civil construction and mechanical installation services to the resources sector across Australia.

In July 2009, Civmec was acquired from the ASX-listed VDM Group and merged with Ballymount Enterprises, a Western Australian based civil concrete construction company.

Following the merger, Civmec has been successful in working on some of the most prestigious projects in Western Australia, in both civil and precast concrete disciplines.

In October 2009, the company acquired the rights to strategic waterfront land at the Australian Marine Complex in Western Australia. On 9 December 2009, officiated by the State Minister for Industrial Development Mr Troy Buswell, Civmec held its official sod turning ceremony which represented the first stage of construction of its new facilities.

In September 2010, Civmec commenced its first fabrication project in its heavy engineering waterfront facility.

The new fabrication facility was officially opened by the WA Premier Colin Barnett on 19th April 2011.

In April 2012, Civmec Limited was listed on the Singapore Exchange (SGX).


http://civmec.com.au/about-us/our-history/

Introduction

Civmec is an integrated, multi-disciplinary services provider to the resources, utilities and infrastructure industries.
We provide heavy engineering and construction services such as:

• Precast concrete
• Fabrication
• Modular assembly
• Site civil works
• Structural Mechanical Piping installation (SMP)
• Industrial insulation
• Maintenance services

Specialises in Oil and Gas. Mining and Civil Infrastructure projects

Giant resources clients

Chevron - http://www.chevron.com/

BHP Billiton - http://www.bhpbilliton.com/home/Pages/default.aspx

Rio Tinto - http://www.riotinto.com/


News Articles

CIVMEC Boom: Is There More Steam Left?

http://www.sharesinv.com/articles/2012/08/31/civmec-boom-is-there-more-steam-left/

Chevron deal with Japanese utility company Tohoku Electric Power to buy liquefied natural gas (LNG) from Australia for 20 years is an extension of one of its old projects

Chevron strikes gas supply deal with Japan's Tohoku Electric Power 

http://www.theaustralian.com.au/business/mining-energy/chevron-strikes-long-term-gas-supply-deal-with-japanese-firm/story-e6frg9df-1226731145545

Civmec Company Website  - http://civmec.com.au/

 

Rowsley Falling Wedge Formation

Falling wedge breakout direction will determine future price movement. Further upside thrust if there is a strong breakout above the green falling wedge. First resistance zone is the 31 to 30 cents region. If the current red channel support holds, potential price path will most probably be  within the red channel.

Any downward drop below the green falling wedge will test next support zone at 23 to 22 cents. Gap support upper boundary begins at 20 cents. Be nimble and happy trading.