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SINGAPORE DAYBOOK: Allgreen Offer, Capital Markets Forum

May 24 (Bloomberg) -- Malaysian billionaire Robert Kuok offered to buy all the shares in Allgreen Properties Ltd. through an investment holding firm, valuing the developer at S$2.54 billion ($2 billion).

WHAT TO WATCH:

*Allgreen Properties Ltd. (AG SP) said it received a takeover offer from Malaysian billionaire Robert Kuok of S$1.60 a share versus last traded price of S$1.15. Kuok group companies already hold 55.7% of the shares. *Bukit Sembawang Estates Ltd. (BS SP) said 4Q net income fell 34% to S$27.5m. *Keppel Corp. (KEP SP) said a unit won an order from Vision Drilling Pte. to build a jackup drilling rig for $180 million. *Kreuz Holdings Ltd. (KRZ SP) said it won contracts worth $44m. *Noble Group Ltd. (NOBL SP) approached banks seeking $2.25 billion of revolving credit facilities, according to a person familiar with the matter. The facility will pay a so-called blended margin of 162 bps more than Libor, the person said. *Nordic Group Ltd. (NRD SP) said it is seeking approval from shareholders to buy Multiheight Group for up to S$47m. *Silverlake Axis Ltd. (SILV SP) said it won a contract from Thanachart Bank. *Stamford Tyres Corp. (STC SP) said it bought the remaining 50% of STC Tyres (Malaysia). *Swiber Holdings Ltd. said it won contracts worth $109m for oil projects in Asia. *Unionmet Singapore Ltd. (UMS SP) said it sold its stake in Guangxi Crystal Union Photoelectric Materials Co.

CONFERENCES:

*Euromoney Australian and New Zealand Debt Capital Markets Forum 2011 held at Singapore Marriott Hotel. Speakers include New Zealand’s Finance Minister Bill English.

MARKETS:

S&P 500 down 1.2% to 1,317.37 Stoxx Europe 600 down 1.7% to 274.78 MSCI Asia Pacific down 2.2% to 131.60 Straits Times Index down 1.8% to 3,110.48

BTV:

7:10 a.m.: AMP Capital Head of Investment Strategy Shane Oliver 8:10 a.m.: Credit Suisse Analyst Gabriel Chan 8:40 a.m.: Synovate Motor Research Managing Director Klaus Paur 9:10 a.m.: Yuanta Securities Analyst Vincent Chen 9:40 a.m.: HSBC Global Head of Investment/Macro Philip Poole 10:10 a.m.: University of Sydney Professor Justin Hastings

To contact the reporter responsible for this story: Lars Klemming at lklemming@bloomberg.net

To contact the editor responsible for this story: Lars Klemming at lklemming@bloomberg.net

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