ST Aerospace, Marubeni to form engine leasing company
By Jonathan Peeris | Posted: 20 June 2011 2218 hrs
SINGAPORE : ST Engineering's aerospace arm has partnered Japan's Marubeni Corporation to form an engine leasing company in Singapore.
The new joint venture company, called Total Engine Asset Management, will be equally owned by ST Aerospace and Marubeni and commence operations in the second half of this year.
The firm's initial engine leasing portfolio will include engines that mainly power narrow-body aircraft such as the Airbus A320 and Boeing 737.
The joint venture firm plans to invest about US$100 million worth of assets within the first two years, with an equity injection of up to US$40 million.
In a joint statement, the firms said the new joint venture will leverage on ST Aerospace's expertise in total engine support, alongside Marubeni's extensive experience in financing and marketing knowledge, to bring value added solutions to customers worldwide.
- CNA/ms
- wong chee tat :)
Sunday, June 26, 2011
SGX introducing new templates for new product disclosures
SGX introducing new templates for new product disclosures
By Millet Enriquez | Posted: 20 June 2011 2251 hrs
SINGAPORE : The Singapore Exchange (SGX) is introducing a new set of templates for new product disclosures to enhance the readability of term sheets for warrants, debentures and funds.
SGX said a consistent presentation of product features and risks will help investors have a clear and efficient comparison of competing products in the market.
As such, it is requiring issuers to use the guidelines and term sheet formats beginning August 1 this year.
The disclosure templates will apply to the term sheets for debt issues of asset-backed securities, exchange traded notes and structured notes.
It will also cover funds including collective investment schemes and exchange traded funds and structured warrants.
With the practice notes, SGX said that products that do not come with registered prospectus under the Monetary Authority of Singapore can now have their features and risks disclosed in standardised formats
SGX said the new guidelines are in line with the central bank's initiatives to improve disclosure through the use of product highlight sheets.
The practice notes are made available through the SGX website under the SGX Rulebooks - Rule Amendments.
- CNA/ms
- wong chee tat :)
By Millet Enriquez | Posted: 20 June 2011 2251 hrs
SINGAPORE : The Singapore Exchange (SGX) is introducing a new set of templates for new product disclosures to enhance the readability of term sheets for warrants, debentures and funds.
SGX said a consistent presentation of product features and risks will help investors have a clear and efficient comparison of competing products in the market.
As such, it is requiring issuers to use the guidelines and term sheet formats beginning August 1 this year.
The disclosure templates will apply to the term sheets for debt issues of asset-backed securities, exchange traded notes and structured notes.
It will also cover funds including collective investment schemes and exchange traded funds and structured warrants.
With the practice notes, SGX said that products that do not come with registered prospectus under the Monetary Authority of Singapore can now have their features and risks disclosed in standardised formats
SGX said the new guidelines are in line with the central bank's initiatives to improve disclosure through the use of product highlight sheets.
The practice notes are made available through the SGX website under the SGX Rulebooks - Rule Amendments.
- CNA/ms
- wong chee tat :)
Start-up process for ExxonMobil's ethylene cracker plant delayed
Start-up process for ExxonMobil's ethylene cracker plant delayed
By Millet Enriquez | Posted: 20 June 2011 2326 hrs
SINGAPORE : The start-up process for ExxonMobil's ethylene cracker plant in Jurong Island is delayed and is now pushed back to early 2012.
Initially projected to begin operations this year, ExxonMobil said it now anticipates mechanical completion and start-up activities of other new facilities to come in phases through 2011 and 2012.
In a statement sent to MediaCorp, the US oil giant said safety is its top priority and it is focusing on a "disciplined" execution of the start process - citing the scale, complexity and inter-dependence of the units required for the project.
In the meantime, ExxonMobil said major polymer units - such as the specialty elastomers, the polyethylene and polypropylene plants - have been mechanically completed and commissioning activities have also started.
"We anticipate commissioning and start-up activities of the new downstream units to occur in phases through 2011 and 2012," ExxonMobil said.
ExxonMobil's petrochemical complex consists of a world scale steam cracker and associated units, which include polyethylene, polypropylene and specialty elastomer plants.
The cracker has the capacity to produce 1 million tonnes of ethylene per year.
- CNA/ms
- wong chee tat :)
By Millet Enriquez | Posted: 20 June 2011 2326 hrs
SINGAPORE : The start-up process for ExxonMobil's ethylene cracker plant in Jurong Island is delayed and is now pushed back to early 2012.
Initially projected to begin operations this year, ExxonMobil said it now anticipates mechanical completion and start-up activities of other new facilities to come in phases through 2011 and 2012.
In a statement sent to MediaCorp, the US oil giant said safety is its top priority and it is focusing on a "disciplined" execution of the start process - citing the scale, complexity and inter-dependence of the units required for the project.
In the meantime, ExxonMobil said major polymer units - such as the specialty elastomers, the polyethylene and polypropylene plants - have been mechanically completed and commissioning activities have also started.
"We anticipate commissioning and start-up activities of the new downstream units to occur in phases through 2011 and 2012," ExxonMobil said.
ExxonMobil's petrochemical complex consists of a world scale steam cracker and associated units, which include polyethylene, polypropylene and specialty elastomer plants.
The cracker has the capacity to produce 1 million tonnes of ethylene per year.
- CNA/ms
- wong chee tat :)
M1 to launch LTE-based Next Generation Mobile Network
M1 to launch LTE-based Next Generation Mobile Network
By Rachel Kelly | Posted: 20 June 2011 2326 hrs
SINGAPORE : Singapore telco M1 will be the first in South-East Asia to launch ultra-high speed mobile services with Long Term Evolution (LTE).
Its LTE-based Next Generation Mobile Network, to be launched on Tuesday, will provide consumers with speeds of up to ten times faster than what is currently available.
Operating on both 1.8 GHz and 2.6 GHz frequency bands, it will have an initial theoretical downlink speed of 75 Mbps and uplink speed of 37.5 Mbps.
By the end of 2012, speeds are expected to double, with the theoretical downlink upgraded to 150 Mbps, while uplink speed will be at 75 Mbps.
The launch will include customers from M1's enterprise sector, who will be able to access the network via USB modems on their existing mobile broadband plans.
M1 said an expanded range of LTE devices, including tablets and smartphones, is expected to be available later this year.
M1 will initially start the services in the financial district, including Marina Bay, Suntec and Shenton Way.
The telco said the network's full coverage nationwide is expected to be completed by the first quarter of 2012.
Rival telco SingTel said it is progressively rolling out its LTE network and will offer commercial LTE services in October.
From July, all customers of SingTel's Premium 21 mobile broadband service, which comes with the SingTel Priority Pass, "will be issued with LTE dongles so that they can enjoy LTE services at no extra charge for the duration of their contract", said a SingTel spokesperson.
"We intend to disclose typical speeds of our LTE services instead of theoretical speeds, so that our customers know exactly what they are getting and can make better informed choices," added the spokesperson.
Meanwhile, Starhub said it plans to roll out its LTE network later this year.
Peter Cook, vice president of mobile network engineering, StarHub, said: "We successfully completed technical trials of LTE in 2010 and have now extended these trials to the new LTE 1800 MHz band to provide better, deeper LTE coverage in the future.
"We are particularly interested in the 1800 MHz band for LTE deployment as it has approximately twice the coverage area compared to 2.6 GHz, according to the Global Mobile Suppliers Association (or GSA)."
Analysts said it is still early days when it comes to LTE deployment, adding that while the initial rollout will be with dongles, unavailability of a wide range of devices is still a hindrance to wide market adoption.
- CNA/al
- wong chee tat :)
By Rachel Kelly | Posted: 20 June 2011 2326 hrs
SINGAPORE : Singapore telco M1 will be the first in South-East Asia to launch ultra-high speed mobile services with Long Term Evolution (LTE).
Its LTE-based Next Generation Mobile Network, to be launched on Tuesday, will provide consumers with speeds of up to ten times faster than what is currently available.
Operating on both 1.8 GHz and 2.6 GHz frequency bands, it will have an initial theoretical downlink speed of 75 Mbps and uplink speed of 37.5 Mbps.
By the end of 2012, speeds are expected to double, with the theoretical downlink upgraded to 150 Mbps, while uplink speed will be at 75 Mbps.
The launch will include customers from M1's enterprise sector, who will be able to access the network via USB modems on their existing mobile broadband plans.
M1 said an expanded range of LTE devices, including tablets and smartphones, is expected to be available later this year.
M1 will initially start the services in the financial district, including Marina Bay, Suntec and Shenton Way.
The telco said the network's full coverage nationwide is expected to be completed by the first quarter of 2012.
Rival telco SingTel said it is progressively rolling out its LTE network and will offer commercial LTE services in October.
From July, all customers of SingTel's Premium 21 mobile broadband service, which comes with the SingTel Priority Pass, "will be issued with LTE dongles so that they can enjoy LTE services at no extra charge for the duration of their contract", said a SingTel spokesperson.
"We intend to disclose typical speeds of our LTE services instead of theoretical speeds, so that our customers know exactly what they are getting and can make better informed choices," added the spokesperson.
Meanwhile, Starhub said it plans to roll out its LTE network later this year.
Peter Cook, vice president of mobile network engineering, StarHub, said: "We successfully completed technical trials of LTE in 2010 and have now extended these trials to the new LTE 1800 MHz band to provide better, deeper LTE coverage in the future.
"We are particularly interested in the 1800 MHz band for LTE deployment as it has approximately twice the coverage area compared to 2.6 GHz, according to the Global Mobile Suppliers Association (or GSA)."
Analysts said it is still early days when it comes to LTE deployment, adding that while the initial rollout will be with dongles, unavailability of a wide range of devices is still a hindrance to wide market adoption.
- CNA/al
- wong chee tat :)
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