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Posts Tagged ‘Jurong’

Jurong Cement – Corporate moves

Aidan John Lynam has been appointed non-ED wef Feb 18
Work experience: Area manager, Holcim Ltd; CEO, Holcim Vietnam Ltd; VP, Manufacturing, Holcim Lanka Ltd

PEC wins maintainance contract for Jurong Island refinery

PEC, the homegrown plant and terminal engineering specialist which provides project works and maintenance services to the oil and gas, petrochemical, oil and chemical terminal and pharmaceutical industries in Asia and the Middle East, says it had signed a contract with Singapore Refining Company (SRC) to provide maintenance services for part of its refinery located in Jurong Island.

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YTL Cement offers to buy Holcim’s Jurong Cement stake at $2.50 a share

YTL Cement Singapore, a unit Malaysian conglomerate YTL Group, has reportedly offered to acquire all of Holcim Investments Singapore’s shares in Jurong Cement for $2.50 per share.

Holcim Investments, Jurong Cement’s controlling shareholder with a stake of over 55%, is currently offering $2.10 per share for the rest of the shares it does not own.

If Holcim Investments accepts the offer, YTL Cement — Jurong Cement’s second-largest shareholder — will make a mandatory offer for all the other voting shares, also at $2.50 per share.

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YTL Cement Singapore offers to buy Jurong Cement unit for $50m

Jurong Cement says controlling shareholder YTL Cement Singapore, has proposed to purchase the property, plant and equipment of the company’s wholly-owned subsidiary Jurong Cement Bulk Terminal, including its cement terminal and the land upon the cement terminal is located at Pulau Damar Laut, Singapore, at a purchase price of $50 million.

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Jurong Technologies reports $502 million loss for 2008

Jurong Technologies Industrial Corp., a Singapore-based electronic products maker, reported losses of $502 million  for 2008, it said in a statement to the Singapore Exchange.

Jurong Shipyard files claims against Societe General for US$198.9m

Sembcorp Marine says subsidiary Jurong Shipyard today commenced an action in the High Court of Singapore against Societe General (SG) to recover a sum of US$198.9 million ($286 million).

The breakdown of the claims is as follows:

  • the sum of US$83.5 million that was paid to SG before the unauthorised foreign exchange transactions were uncovered in October 2007, and
  • US$115.4 million that was paid to SG as part of a pre-condition for closing out of unauthorised transactions with Jurong Shipyard in November 2007, subject to Jurong Shipyard’s right to a refund of the monies from SG if the dispute is resolved in the shipyard’s favour.

Jurong Shipyard says it remains of the view that the unauthorised transactions were not valid and binding, and is pursuing its right to claim for a refund from SG.

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Jurong Shipyard files claims against Societe Generale for US$198.9m

Sembcorp Marine, the world’s second-largest maker of oil rigs, said its unit Jurong Shipyard Pte started legal action against Societe Generale in Singapore to recover $198.9 million related to foreign exchange deals.

Of the claim, $83.5 million was paid to Societe Generale before the “unauthorised” transactions were uncovered in October 2007, Sembcorp said in a statement to the Singapore stock exchange. The remainder of $115.4 million was paid as part of a pre-condition for the closing out of the transactions with Jurong Shipyard in November that same year, it said.