Sim Lian Group has been awarded a contract of $88m by Housing and Development Board for proposed building works at Jurong West. The contract comprises the construction of 5 blocks of residential building with 528 dwelling units, 1 multi-storey carpark and other communal facilities. The contract period is 36 months.
Geo Energy Resources expects to report a lower profit in 1Q14 as compared to the corresponding period in 2013. The Group continued to experience weak coal demand and a downward trend in global coal prices.
Loyz Energy has successfully completed its purchase of stakes in three onshore petroleum concessions in Thailand. Its 20% stake in 3 Thailand onshore concessions will see immediate returns and positive cashflows, effective April 2014. Gross production rate rose from 1,200 bopd in February 2014 to 3,000 bopd in early April 2014, and is expected to surge to 4,000 bopd by May 2014. Growing recurrent income from these producing fields will enable the Group to invest in other strategic concessions.
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