See Hup Seng Forms JV to Build S$27-million Integrated Chemical Hub in Singapore See Hup Seng Limited, a provider of corrosion prevention services in Singapore and distributor of refined petroleum products in Asia-Pacific, announced Friday plans to build an integrated chemical hub in Singapore through a joint venture (JV) to grow the scale of its...

TCT Gets Equity Investment Management Licence in China Treasury China Trust (TCT) announced Thursday that it has received approval from the Chinese government to establish an equity investment management business in Shanghai. The licence permits TCT, through its wholly-owned Shanghai-based subsidiary, to raise domestic Renminbi (RMB) capital in a private equity format for re-investment across...

Tiger Airways Establishes Second Australian Base in Sydney Tiger Airways Holdings Limited announced Wednesday that Sydney will become the airline’s second Australian base when operations commence from early July 2012. From 1 July 2012, three Airbus A320 aircraft will progressively call Sydney home, creating over 150 new jobs and providing up to 10 additional daily...

Swiber Bags Charter Contracts Worth US$36.0 million Swiber Holdings Limited, an integrated construction and support services provider to the offshore industry, announced Tuesday that it has been awarded new charter contracts amounting to US$36.0 million (S$45.2 million). The new charter contracts are for vessel chartering services in the Gulf of Mexico and Southeast Asia. These...

Ezra’s EMAS AMC Clinches US$55-million North Sea Contract Ezra Holdings Limited, a global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, announced Monday that its subsea construction division, EMAS AMC, has been awarded a SURF (Subsea, Umbilical, Risers and Flowlines) contract for marine installation and pipe lay from...

SingTel Prices US$700-million of 5.5-year Notes at 2.375 Per cent Singapore Telecommunications Limited (SingTel) announced Friday that its wholly-owned subsidiary, SingTel Group Treasury Pte Ltd (SGT), priced US$700.0 million (S$874.0 million) of 5.5-year notes on March 1, guaranteed by SingTel. The group said the note issue met with strong demand from a wide range of...

Metax Engineering Announces Orderbook of S$80.3 million as at January 1 Metax Engineering Corporation Limited, an environmental engineering company, announced Thursday an orderbook of S$80.3 million as at January 1 this year. The group said a significant amount of the orderbook comes from its palm oil business sector. The orderbook also includes projects by Oiltek...

  City Developments’ 4Q2011 Bottomline Down 32 Per cent to S$163 million Property developer City Developments Limited posted Wednesday a 32-per cent fall in net profit for the fourth quarter ending 31 December 2011, hurt by lower rental income. The group, which owns 54 per cent of London-listed hotel group Millenium & Copthorne (MLC.L), said...

COSCO Clinches Contracts to Build Seven Bulk Carriers worth US$190 million COSCO Corporation (Singapore) Limited announced Tuesday that it has secured various contracts to build a total of seven bulk carriers with a contract value amounting to over US$190.0 million (S$239.0 million). The group said its associate company, COSCO (Guangdong) Shipyard Co Ltd, has secured...

Lian Beng Wins S$49-million Defence Contract Lian Beng Group Limited announced Monday that its wholly-owned subsidiary, Lian Beng Construction (1988) Pte Ltd, has secured a construction contract worth approximately S$49.0 million from the Ministry of Defence. The contract will run for a period of 21 months. Lian Beng said the new deal will have a...

Koon Holdings’ 2011 Net Profit Down 41.6 Per cent Koon Holdings Limited reported Friday that its net profit for the year ending 31 December 2011 declined 41.6 per cent year-on-year to S$7.61 million. Turnover for the year inched up 17.7 per cent to S$88.06 million, as the increased revenue from the precast division and maiden...

Olam to Raise S$275 million in Perpetual Capital Securities Issue Agriculture and food group Olam International Limited has launched and priced Thursday its issue of perpetual capital securities to raise S$275.0 million. The capital securities, which have no maturity date, will constitute direct, unconditional, unsecured and subordinated obligations of Olam. The securities were priced at...