Raffles Medical Group says it has posted a 20.3% rise in 2Q earnings of $10.6m for the second quarter ending June 30 2010 (2QFY2010) compared to $8.8 million for 2QFY2009. Group revenue rose 8.7% to a record $58.6 million from $53.9 million.
Revenue of Hospital Services grew by 11.2% and Healthcare Services increased by 3.7%. All divisions of the group continued to contribute positively to the growth in revenue.
Swiber Holdings, the construction and support services provider to the offshore oil and gas industry, has received a letter of award from a major oil company in South East Asia to provide underwater inspection, repair and maintenance services of major offshore facilities.
The contract, worth US$75 million ($106 million) is awarded on a day-rate basis and is expected to start in 2Q 2010. It will be for a five-year period with an annual renewal option of two years.
