Nam Cheong is placing up to 190m new shares at S$0.255 per share. The placement price represents a discount of approximately 9.70 % to the last weighted average price. Net proceeds of about S$47m will be used to finance expenditure for shipbuilding projects and vessel chartering business and working capital purposes.
STX OSV Holdings announced that Tidewater Inc. has acquired contracts for three Platform Supply Vessels (PSVs) under construction at STX OSV in Norway. STX OSV had originally secured the contracts for the design and construction of three vessels for STX Pan Ocean in 2010, and Tidewater has now entered into an assignment agreement with STX Pan Ocean to take over these contracts. The first vessel in the series will be delivered to Tidewater during 1Q 2013. Deliveries of the next two vessels are scheduled for Q2 and Q3 2013.
ST Engineering's aerospace arm wrapped up the fourth quarter of last year with new contracts worth about $450m. The new contracts - for airframe, component and engine maintenance, as well as engineering and development - are to be carried out at ST Aerospace's global network.
Hu An Cable Holdings has recently
secured repeat contracts worth RMB96.3m from one of China’s largest provincial power grid companies, Hubei Province Electric Power. These contracts are expected to be completed in 2013.
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