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Sembcorp Marine Inks LOI with Prosafe to Build Rig Sembcorp Marine Limited Friday announced that its subsidiary, Jurong Shipyard (JSPL), has signed a Letter of Intent with repeat customer Prosafe for the construction of a semi-submersible accommodation rig. The rig, which is of similar design as the Safe Boreas presently under construction in Jurong Shipyard,...
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Olam Acquires Zambian Coffee Firm for US$6.15 million Olam International Limited Tuesday announced that it has acquired 100 per cent equity interest in Northern Coffee Corporation Ltd (NCCL), the largest coffee estate in Zambia, for approximately US$6.15 million (S$7.5 million) through a bidding process organised by the Zambia Development Authority (ZDA). The group said a...
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Amtek Engineering (HOLD; Target Price: S$0.66) 4Q12 headline net profit was in line but core profit of US$7.4 million was 19 per cent lower than our estimates as sales were lower than expected at US$172 million while costs were higher. Operating margins missed as SGA expenses headed higher due to 20 per cent higher wages...
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Olam International’s FY2012 Profit Down 13.7 Per cent Olam International Limited Tuesday announced a 13.7-per cent decline in net profit to S$370.9 million for the full fiscal year ending June 30 (FY2012) from S$429.8 million in the previous year. During FY2012, sales volume grew 26.3 per cent to 10.7 million metric tonnes, resulting to higher...
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Keppel Secures Jackup Rig Contract Worth S$306.7 million Keppel Corporation Limited Tuesday announced that its subsidiary, Keppel Kazakhstan LLP, and its Kazakhstan-based consortium partner Ersai Caspian Contractor LLC, have secured a contract from Teniz Burgylau LLP for a KFELS B Class jackup rig worth approximately S$306.7 million. Scheduled for delivery in 1Q 2015, the jackup...
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Olam’s CFO Resigns Olam International Limited Wednesday announced the resignation of its Chief Financial Officer, Krishnan Ravi Kumar, who is leaving the group to pursue a new career outside the agricommodity sector. The group also announced that Shekhar Anantharaman will be moving into a new and enhanced role as Executive Director for finance & business...
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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...
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Olam Acquires Nigerian Dairy Firm for S$84.8 Million Olam International Limited announced Thursday that it has acquired Kayass Enterprises S.A. for US$66.5 million (S$84.8 million) for its dairy products and beverages business in Nigeria. Kayass’ principal business interest is in the manufacturing and marketing of branded dairy products and beverages in Nigeria. The company owns...
