Company News

Total turnover value on the Singapore Exchange (SGX) securities market slipped 6 per cent year-on- year to about $26 billion in October. The daily average value worked out to $1.2 billion - down 14 per cent from the corresponding month last year - over the 22 trading days in the month. Data released by SGX showed that turnover value on the SGX securities market was also lower month- on-month, down 8 per cent from $28.18 billion in September, while the daily average value was down 16 per cent month-on-month. In volume terms, total market turnover rose to 35.66 billion shares from 23.15 billion shares a year ago. Month-on-month, October's figure was around 8.5 per cent higher. (BT)

Keppel Offshore and Marine's overseas yards in the Philippines and Netherlands have hauled in contracts totalling S$160 million. Keppel Subic Shipyard will build a depletion compression platform for Shell Philippines Exploration that will recover natural gas from the Malampaya gas field near Palawan Island in the Philippines. Keppel Verolme in the Netherlands will work on the maintenance and repair of a deepwater construction vessel, Balder, for repeat customer Heerema Marine Contractors and deliver Balder in Q1 2013. (BT)

Nam Cheong Limited on Monday issued
S$110 million Series 1 Notes, which bear a 6 per cent per annum interest and will mature on Nov 5, 2015. The net proceeds will be used for general corporate purposes, including refinancing of existing borrowings, as well as financing capital expenditure, investments and general working capital. The notes were issued under its S$200 million multi-currency medium-term note programme. In-principle approval for the listing and quotation of the notes has been received from the Singapore Exchange.. (BT)

Challenger Technologies on Monday posted a 20 per cent year-on-year rise in profit to S$4.02 million for the third quarter ended Sept 30. The company attributed this to greater contributions from its IT products and services business and its retail operations. Profit for the first nine months of the year crept 1 per cent to S$11.36 million. (BT)