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Chasen Holdings bags China relocation contracts worth $11.4m

January 28th, 2011 | No Comments

Chasen Holdings, the relocation specialist for sophisticated machinery and equipment, says its Shanghai unit has successfully clinched two relocation projects in China. The projects, which involve the relocation of TFT LCD plants, have a combined value of RMB58.45 million ($11.37 million).

The first project, worth RMB8.45 million, involves the turnkey relocation of a 3rd-generation LCD factory from Kunshan in Jiangsu to Changsha in Hunan. Services rendered by Chasen Hi-Tech will include packing and moving out from the Kunshan plant, transporting the equipment to and moving them into the Changsha plant. The project will be conducted from January to March 2011.

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Wee Hur says it won HDB building project worth $65m recently

January 27th, 2011 | No Comments

Wee Hur Construction says it recently won a $64.88 million building works project from Housing & Development Board (HDB).

The project involves the building works at Jurong West Neighbourhood 2 which comprises 450 residential units which include four residential blocks, a multi-storey car park with green roof, an electrical sub-station block, minor sewer services and services roads, driveways and drains.

The project will start on Feb 15 and is expected to complete by June 2013.

As at 30 September 2010, the group has $325.1 million worth of contracts.

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Keppel to build two jackups worth US$416m for Discovery Offshore

January 27th, 2011 | No Comments

Keppel FELS says it has secured a contract worth about US$416 million ($532 million) from Discovery Offshore S.A. (Discovery Offshore) to construct two harsh environment jackup rigs based on KFELS’s Super A Class design.

The rigs are scheduled for delivery in 1H and 2H 2013 respectively. The construction, marketing and operation of both units will be managed by Nasdaq-listed Hercules Offshore, Inc., which is a leading global operator of jackup and liftboat assets.

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Keppel gets jack-up rigs contract worth about $532 mln

January 27th, 2011 | No Comments
Keppel Corp (KPLM.SI), the world’s largest oil rig builder, said on Thursday it has secured a contract worth about US$416 million ($532 million) to build two harsh environment jack-up rigs from Discovery Offshore S.A.

The jack-ups are scheduled for delivery in the first and second half of 2013, respectively.

Discovery Offshore has options to order two additional jack-up units as part of the contract, which if exercised will raise the total contract value to more than US$840 million.
 
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TTJ wins new projects worth $12m

January 25th, 2011 | No Comments

Structural steel firm TTJ Holdings announced today that it has successfully secured jobs totalling $12 million for a series of structural steel projects in Singapore.

Under the deal, TTJ will provide structural steelwork for infrastructure projects that include, the glass-clad pedestrian link bridges at Orchard Road at the proposed re-development of Specialists’ Centre/Hotel Phoenix, the Scot Project for Shell Eastern Petroleum at Pulau Bukom and for a depot located off Woodlands Road in Downtown Line Stage 2 (DTL2) (Contract 911).

The bulk of these projects are expected to be completed by 2013.

With these extra projects, the group’s order books as at 16 January 2011 rose to $157 million from $145 million as at 29 November 2010.

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Keppel to build two jackups for Clearwater worth $462m

January 23rd, 2011 | No Comments

Keppel FELS Limited (Keppel FELS) has secured new orders from Clearwater Capital Partners, LLC (Clearwater) to build a pair of premium KFELS B Class jackup rigs at US$360 million ($462 million).

The two high specification jackups are scheduled for delivery in 1Q 2013 and 2Q 2013 respectively.

As part of the agreement, Clearwater has options to build another two similar jackup units with Keppel FELS. If exercised, the options for the additional two rigs will bring the total contract value to above US$730 million.

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Facebook Worth $50B After Goldman Sachs Investment

January 22nd, 2011 | No Comments

Facebook Jan. 21 grabbed $1.5 billion in funding from Goldman Sachs and Digital Sky Technologies, stoking the social networking for gritty competition vs. Google in 2011. – Facebook said
Jan. 21 it has raised $1.5 billion in funding from Goldman Sachs and Digital
Sky Technologies, which brings the social-networking companys value to $50
billion.
Goldman Sachs
clients overseas invested $1 billion in Facebook Class A common stock
in a funding round that closed Ja…


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ST Engineering +0.6% on 4Q contracts worth $320m

January 21st, 2011 | No Comments
ST Engineering (S63.SG) is up 0.6% at $3.31 after it says its aerospace arm clinched around $320 million worth of new contracts in 4Q.

The company says the contracts, which range from 3-12 months in duration, include new components and engine maintenance contracts, as well as airframe contracts involving heavy maintenance checks, passenger-to-freighter and passenger-to-passenger/cargo conversions and interior refurbishments. 

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ST Engineering wins maintenance contracts worth $320m

January 20th, 2011 | No Comments
Singapore Technology Engineering, which makes arms and repairs aircraft, said its aerospace business received maintenance orders worth $320 million in the fourth quarter of last year.
 
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SembMarine wins contracts worth $215m

January 17th, 2011 | No Comments

Sembcorp Marine says subsidiary Sembawang Shipyard has secured a newbuilding and three major upgrading contracts totalling $215 million.

The newbuild contract worth $123 million was awarded by Teekay Shipping (Australia) Pty Ltd for the Engineering, Procurement, Construction and Commissioning (EPCC) of a dynamically positioned blue water research vessel for Australia. The Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s national science agency.

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Singapore’s Ezra wins three charters worth $94.1m

January 12th, 2011 | No Comments
Singapore oil services company Ezra Holdings (EZRA.SI) said on Wednesday it had won new charters worth up to US$73 million ($94.1 million) for three of its offshore support vessels.
 
The firm also reported a 28% fall in its first-quarter net profit to US$13.3 million from a year ago, mainly due to a lower share of profits from joint venture and associated companies, as well as higher financial expenses.
 
However, Ezra’s revenue for the three months ended Nov 30 last year grew 25 percent year-on-year to US$75.9 million, spurred by increased contributions from its deepwater subsea and marine services divisions.
 
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Yangzijiang bags $536m worth of shipbuilding contracts from Sept 1 to Dec 31

January 12th, 2011 | No Comments

Yangzijiang Shipbuilding (Holdings) says the group has entered into 15 shipbuilding contracts between Sept 1 and Dec 31 2010 with a total contract value of US$415.30 million ($536.4 million).

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Singtel says buys $39m worth of shares in Bharti Airtel

January 11th, 2011 | No Comments
Singapore Telecommunications (STEL.SI) said on Tuesday it has paid $39 million for 4.07 million shares in Bharti Airtel, pushing up its stake in the Indian firm to 32.15% from 32.04% previously.

Singtel stock closed up 0.66% on Tuesday at $3.07.

 
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Social media: Is Facebook really worth $50 billion?

January 6th, 2011 | No Comments

And will its new financing scheme fall foul of regulators?

IN 2009 Rolling Stone described Goldman Sachs, an investment bank, as “a great vampire squid” that likes to stick its “blood funnel” into anything that can make it money. This week the squid inked yet another high-profile deal. Together with Digital Sky Technologies (DST), a Russian group, Goldman invested a total of $500m in Facebook, valuing the world’s most popular social network at a whopping $50 billion. The bank is also planning to set up a fund it will manage that will pump up to $1.5 billion more from wealthy investors into the company.

For Facebook, the deal provides a mountain of extra cash to invest in things such as new data centres and acquisitions. It gives it fuel for further growth without the hassle of listing its shares. For Goldman, the transaction represents an opportunity to stick its “funnel” into an internet firm that makes investors drool. As well as benefiting from any further appreciation in Facebook’s value, the bank plans to suck up fees for managing the new fund. And it is no doubt hoping that by cosying up to Facebook’s top brass it is boosting its chances of leading an eventual initial public offering (IPO) of the company’s stock. …

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Facebook Worth $50B from $500M Funding Round

January 3rd, 2011 | No Comments

Facebook banked $500 million in funding from Goldman Sachs and Digital Sky, inflating its war chest to challenge Google for a greater Web audience. – Facebook CEO Mark Zuckerberg regularly downplays talk of an
IPO, but his social network company has achieved the scale, and now the funding,
of a company to warrant it.
Facebook has reportedly banked $500 million from Goldman
Sachs and Digital Sky Technologies, valuing the company at $50 billio…


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Cosco wins contracts worth over US$100m

December 30th, 2010 | No Comments

Singapore-listed Cosco Corp (COSC.SI) said on Thursday its 51% owned subsidiary Cosco (Zhoushan) Shipyard has secured contracts valued over US$100 million ($129 million) to build four bulk carriers of 57,000 dead-weight tonnes each. The bulk carriers are scheduled for deliveries from August 2012 to March 2013.

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Advanced clinches oil & gas projects worth $12.1m in the region

December 30th, 2010 | No Comments

Advanced Holdings, the global supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, today announced that it has clinched new oil & gas contracts worth $12.1 million. All these projects are expected to be completed and delivered in 2011. The projects include design and fabrication of shell and tube heat exchangers in Vietnam as well as fabrication of marine risers to be used by offshore oil rig companies.

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Keppel secures $240m worth of contracts

December 27th, 2010 | No Comments

Keppel Corp (KPLM.SI), the world’s biggest rig maker, said on Monday its offshore & marine units have won contracts worth $240 million worth for conversion and specialised shipbuilding. The contracts include upgrading of a Floating Production Storage and Offloading (FPSO) vessel, the conversion of a livestock carrier, as well as the building of a diving support vessel.

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Twitter Worth $3.7B After $200M Funding Round

December 16th, 2010 | No Comments

Twitter raked in $200 million in funding led by Kleiner Perkins Caufield & Byers and others. The investment round will help Twitter build out its business. – Twitter banked $200 million in funding led by Kleiner
Perkins Caufield amp; Byers and others, a major investment round that values
the company at $3.7 billion.
The move comes more than a year after Twitter received an
infusion of $50 million that valued the company at $1 billion. The
startup, …


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Offshore Software Development is Worth Its Acceptance and Appreciation Posted By : James John

December 15th, 2010 | No Comments

Many offshore software application development companies are found to have a good amount of experience to offer custom-made solutions, which has helped them to develop a specific work methodology that makes the whole process highly efficient.

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