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STX OSV Secures Orders Worth S$148.8 million

STX OSV Holdings Limited Tuesday announced that it has secured new contracts for the design and construction of two Platform Supply Vessels for Farstad Shipping.

The total value of the contracts amounts to approximately NOK 700.0 million (S$148.8 million).

STX OSV already has six PSVs and four AHTS under construction for Farstad.

STX OSV Holdings Limited closed Tuesday at S$1.520.


Ntegrator Clinches Huawei Contract

Ntegrator International Limited Tuesday announced that it has secured a one-year contract from Sino Huawei Technologies Pte Ltd to manage SingTel’s outsourced copper-based voice and data infrastructure in Singapore.

This is in line with Ntegrator’s strategy to build up a steady stream of recurring income through maintenance and project management contracts.

The contract comes on the back of an earlier announcement from SingTel in March 2012, which, as part of its restructuring plans, had outsourced around 500 jobs to Huawei.

The company will deploy a management expertise team to Huawei to ensure the smooth running and performance of three departments of staff (approximately 300 employees).

“This prestigious contract is Ntegrator’s largest managed services contract. To be entrusted to manage a network infrastructure for Southeast Asia’s largest telco is a clear endorsement of our group’s technical expertise and quality service,” stated Jimmy Chang, managing director of Ntegrator.

The contract is expected to contribute positively to the company’s financial performance in the financial year ending 31 December 2012.

Ntegrator International  Limited closed Tuesday at S$0.033


Olam International Enters JV for Chocolate Firm in North America

Olam International Limited announced Tuesday that it has formed a 50-50 joint-venture “GrowCocoa” with Blommer Chocolate Company, the largest cocoa processor and ingredient chocolate supplier in North America.

Headquartered in the United States, GrowCocoa will bolster the cocoa supply chain based on the combined strengths of both partners; in origin sourcing and access to farmer groups, technical chocolate product manufacturing expertise and established retail customer relationships, the companies said in a joint statement.

Olam and Blommer first combined their efforts in a programme in Indonesia in 2004. The initial programme, SAFOB (Sulawesi Farmers Olam & Blommer), was conceived with the objectives of increasing productivity through sustainable agricultural practices and improving farmer incomes by paying premiums based on quality.

GrowCocoa will build upon the 55,000 farmers already engaged in the programme, committing to reach a total of 100,000 farmers by 2015, which will include new initiatives in other producing countries.

Olam International Limited closed Tuesday at S$1.960


AsiaMedic Makes China Foray

AsiaMedic Limited Tuesday announced that its wholly-owned subsidiary in China, AsiaMedic China Co Ltd, has signed two agreements to set up a post-natal confinement centre and a medical centre respectively in Shanghai.

The two healthcare-related projects, which mark the company’s entry into China’s fast-growing private healthcare industry, will encompass the conversion of an entire hotel floor in an existing four-star hotel in Pudong into a post-natal confinement home; and the conversion of a double-storey shop-front of an existing bank in Shanghai’s city centre into a medical centre.

“Having built up a strong international brand name and track record for delivering premium healthcare services in our existing markets, we are pleased to leverage on these strategic opportunities to expand our regional footprint to China where private healthcare is still in its early stage of development,” said Dr Wong Weng Hong, CEO of AsiaMedic.

AsiaMedic Limited closed Tuesday at S$0.030


STATS ChipPAC Achieves Copper Production Milestone

STATS ChipPAC Limited Tuesday announced that it has reached the production milestone of one billion copper wirebond units shipped.

The group said this achievement was driven by its high volume manufacturing capabilities coupled with its engineering focus on copper wire technology development for a broad range of advanced, multi-die laminate and leaded packages including three dimensional (3D) packaging.

“The proven reliability and continuous development of our copper wirebond manufacturing process has resulted in more customers partnering with STATS ChipPAC as they transition to copper wire interconnect across a wide range of devices and packaging technologies in mobile, consumer and computing applications,” said Hal Lasky, Executive Vice President and Chief Sales Officer, STATS ChipPAC.

STATS ChipPAC Limited closed Tuesday at S$0.430


Yangzijiang Shipbuilding Divests Microfinance Firm for S$20.9 million

Yangzijiang Shipbuilding (Holdings) Limited announced Tuesday that its wholly-owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co Ltd, is disposing of its entire 31.5-per cent stake in Wuxi Runyuan Technology Microfinance Co Ltd for RMB103.95 million (S$20.9 million).

Yangzijiang Shipbuilding said it has another subsidiary that carries out a similar business as Wuxi and the disposal would allow it to streamline the group’s structure and control its overall administrative expenses more effectively.

The disposal is not expected to have any significant impact on the group’s financials for the current financial year ending 31 December 2012.

Yangzijiang Shipbuilding (Holdings) Limited closed Tuesday at S$1.045