INVESTMENT and TRADE - CG Power opens SEAsia’s first testing laboratory

PT CG Power Systems Indonesia (CGPSI), a power transformer manufacturer, officially inaugurated a new 550 kV extra high voltage (EHV) transformer testing laboratory at the company’s factory in Cileungsi, Bogor, on Wednesday.

CGPSI is part of Belgium-based CG Power System Group, which operates 13 transformer factories and 19 switchgear factories throughout the globe.  (full story)

ECONOMY - DEVGEN : nv (Euronext, Brussels: DEVG) successfully completes a private placement for a total amount of ? 26.8 million (Yogyakarta)

Today, Devgen nv placed 4,584,549 new shares in a private placement with pre-identified investors for a total amount of ? 26,819,611. The shares were placed at a price of ? 5.85 per share, which is at least equal to the 30 day average price, in compliance with Belgian Company Law.

The shares are expected to be paid and issued on April 4, 2011 (in the absence of unforeseen circumstances). 1,945,613 shares will be listed immediately. The Company will apply for the admission to list the remainder 2,638,936 shares on NYSE Euronext Brussels on the basis of a listing prospectus. As a result of this transaction, the total amount of outstanding shares increases with 23.3 % from 19,676,642 to 24,261,191. (full story)