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Reports Singapore

Singapore stock market and companies daily report (SembCorp Marine, Yoma Strategic Hdlgs, Ezra) (May 21, 2014)

May 21, 2014, Wednesday, 06:11 GMT | 01:11 EST | 09:41 IST | 12:11 SGT
Contributed by Shares Investment

Sembcorp Marine’s subsidiary Jurong Shipyard has secured a US$236 million contract to build a high specification, tailor-made jack-up rig for Hercules North Sea a subsidiary for Nasdaq-listed Hercules Offshore that is scheduled for delivery in 2Q16. This brings the net book orders to $13.2 billion, with deliveries extending to 2019.

Yoma Strategic Holdings recorded a 34.4 percent year-on-year increase in revenue to $27.5 million in 4Q14, generated by sales of residences and land development rights. Consequently, due to lower cost of sales, gross profit rose 49 percent year-on-year to $12.8 million in 4Q14. However, due to higher administrative expenses and lower other income, net profit fell 44.9 percent to $6.4 million. Overall, earnings for FY14 rose 13.5 percent to $16.4 million.

Ezra Holdings has been awarded contracts totaling more than US$95 million across subsea services particularly in the North Sea and Gulf of  Mexico for cable lay and subsea installation as well as offshore support services in Africa and Asia. With the latest wins, the Group’s orderbook stands at more than US$2 billion of contracts, with a majority expected to be executed over the next 12 to 18 months.

Swee Hong bagged a contract from the Public Utilities Board worth $7.9 million for the ABC Waters Project at Pang Sua Pond and Toa Payoh Lorong 8. The commencement date of the contract is 16 June 2014 and the project is expected to be completed by 15 December 2015.

BH Global Corporation won a series of contracts totaling $18.8 million, for the provision of services and supplies to the drilling and subsea market sector, as well as the supply of marine cables and lightings to both local and international shipyards. The contracts are expected to commence in 2014 with progressive delivery and revenue recognition until 2016. Further, the latest contract wins will lift the company’s order books to $47 million.