FINWIRES · TerminalLIVE
FINWIRES

LC Logistics Unit Enters Bareboat Charter to Lease Vessel; Shares Surge 6%

By

LC Logistics (HKG:2490) unit BAL Athena Shipping entered into a bareboat charter to lease a vessel from Tianjin Green Ocean-V Leasing for 120 months, with a requirement to buy it at the end of the period, according to a Wednesday filing with the Hong Kong bourse.

Shares of the logistics company were up over 6% in Thursday afternoon trading.

At the same time, another unit Bal Container Line agreed to assign the shipbuilding agreement for the 14,000 TEU container vessel to Tianjin Green Ocean-V Leasing, with the consideration comprising the third and fourth installments.

LC Logistics will be the standby charterer under the deal.

Related Articles

Asia

Yest Wins KRW22.8 Billion Semiconductor Manufacturing Equipment Order from Samsung Electronics; Shares Rise 6%

Yest (KOSDAQ:122640) secured an order for optical communication network equipment from Samsung Electronics (KRX:005930), according to a Thursday filing with the Korea Exchange.The contract, valued at 22.82 billion won, is valid till Dec. 30, 2027.Shares of Yest rose nearly 6% in recent trade.

KOSDAQ:122640KRX:005930
Asia

LiComm Wins Optical Communication Network Equipment Order from 1Finity; LiComm Shares Jump 30%

Electronics manufacturer LiComm (KOSDAQ:388790) secured an order for optical communication network equipment from Fujitsu (TYO:6702) subsidiary and telecommunications and network solutions firm 1Finity, according to a Thursday filing with the Korea Exchange.The contract, valued at 3.87 billion won, is valid till Dec. 6, 2027.Shares of LiComm jumped nearly 30% in recent trade, while those of Fujitsu fell nearly 3%.

KOSDAQ:388790TYO:6702
Asia

Guoco Group to Develop Singapore Property via JV

Guoco Group (HKG:0053) agreed to set up a joint venture with real estate firms, Intrepid and TIDR, to develop a residential project in Singapore's Lentor Central, according to a Wednesday filing with the Hong Kong bourse.The project, which involves a property acquired for HK$4.03 billion via tender, spans 15,925.8 square meters and could potentially yield 562 residential units,Guoco will acquire a 50% interest in the joint venture, Intrepid will own 40%, while TIDR will take the remaining 10%.The partners will contribute HK$1.45 billion to the venture in proportion to their ownership of the JV. In Guoco's case, the capital contribution will amount to HK$724.4 million, comprising HK$165.4 million in share capital and HK$559 million in loans.A further HK$3.89 billion was arranged to finance part of the property's acquisition cost and the project's future construction costs and working capital.Guoco also agreed to provide project management and services to the project under a separate agreement that would expire on June 2, 2029.Intrepid and TIDR are associated with Guoco through its substantial shareholder Hong Leong Investment Holdings.

HKG:0053