Corporate news

Corporate news: * K1 Ventures / Keppel Corp: KEP reports on cash offer (at $0.135/sh) for K1 * Interra Resources: announces renounceable rights issue on the basis of 1 rights share for every 2 ordinary shares. Separately, the Business Times has a feature on the co’s Myanmar plans. * Singapore Land: Awarded tender for Farrer Drive for $113.2m. The site has with total area of 67.5k sf and plot ratio of 1.6 which is approx GFA of 108.0k sf. * Pteris: said it won a baggage handling upgrade contract worth ~$30m Charlotte Douglas International Airport and the project is expected to completed by 2014. * Freight Links: FY net $32.2m vs $16.3m; revenue $149.35m vs $154.13m; names Chan Choong Poh Charles as COO * Lion Asiapac: sees 4Q loss; expects FY earnings to decline accordingly * OKP: says it is acquiring 10% stake in CS Land Properties * Mermaid Maritime: names Chalermchai Mahagitsiri as executive vice chairman * CNA: Awarded $9.1m contract to install local sequential controller system for 48 MRT systems. Co was also awarded a $2.3m contract to replace a control and monitoring system at Kranji Water Reclamation Plant. Grp's order book will rise to $71.4m. * Creative Master: Sh/h Bobby Lim Chye Huat makes $0.0126/sh cash exit offer. Co is facing delistment after failing to exit from the SGX Watchlist within the 2 yr timeframe. Mr Lim currently holds a 0.39% stake.