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Reports » Singapore

Singapore stock market and companies daily report (BBR, Keppel Corp, TEE Int’l) (July 02, 2014)

July 2, 2014, Wednesday, 04:05 GMT | 23:05 EST | 07:35 IST | 10:05 SGT
Contributed by Shares Investment

BBR Holdings’ wholly-owned subsidiary, Singapore Piling & Civil Engineering has inked a $196 million contract for the construction of a new hall of residence for Nanyang Technological University (NTU). The project scheduled to be completed within 19 months, is the first in Singapore to deploy a pre-fabricated pre-finished volumetric modular construction technology with up to 40% improvement in labour productivity.

Jason Holdings bagged six contracts worth $5.7 million, where five of these contracts involve the supply and installation of timber flooring mainly for residential developments. The last contract signed is for the supply and delivery of tiles for a foreign workers’ dormitory.

Keppel Corporation’s subsidiaries, Keppel Shipyard and Keppel Singmarine, have secured contracts worth a total of $368 million. The contract won by Keppel Shipyard is for the conversion of a floating production storage and offloading vessel for Armada Kraken, while Keppel Singmarine has secured a contract to design and carry out fabrication and outfitting works for a subsea construction vessel.

Manhattan Resources’ acquisition target, Singxin Resources, has sealed collaboration with Mineral Carbonation International, an Australian carbon technology company, to explore mineral carbonation projects in China. The collaboration includes developing a new cutting-edge technology which uses serpentine to convert carbon dioxide to magnesium carbonate and silicon dioxide, which are used in many applications and will potentially unlock a trillion dollar industry.

PNE Industries has disposed of 28.1 million shares in PNE PCB for a sale consideration of RM15.4 million (approximately $6 million), as agreed at an extraordinary meeting held on 25 June 2014. As the performance of PNE PCB has slowed down in tandem with adverse economic conditions, the company views the disposal of PNE PCB as an opportunity to generate proceeds for working capital as well as potential expansion into other businesses and undertake new investment opportunities.

TEE International has inked a contract worth RM178.8 million (approximately $69.7 million) for the development of MDIS Malaysia campus. Expected to commence on 11 August 2014 and completed by 10 February 2016, the contract involves the development of several blocks of buildings mainly for academic use. The latest contract will lift the company’s order book to $340.3 million for its engineering segment.