Swiber Holdings has clinched an Engineering, Procurement, Installation and Construction (“EPIC”) contract in Latin America for subsea development work including pipeline tie-in work, with an aggregate value of US$80 million. The project will commence immediately and is expected to complete in 2015. Earlier in February 2014, the Group also won contracts valued at approximately US$235 million. In aggregate, Swiber’s contract wins year-to-date rises to US$315 million.
Chip Eng Seng has secured a $165 million contract from the Housing & Development Board (“HDB”) for construction works at Sembawang Neighbourhood 1 Contract 10. Slated to be carried out over a course of 36 months, the newly awarded contract encompasses the construction of 8 residential blocks, housing a total of 1,220 dwelling units together with other community facilities and is tentatively expected to be completed in the second quarter of 2017. Factoring in this latest contract win, the Group’s order book rises above the half a billion mark once again to hit $618 million.
Hankore Environment Tech Group has on 2 June 2014 entered into a conditional sale and purchase agreement to acquire the entire issued and paid-up share capital of the
China Everbright Water Investments for a total consideration of approximately SGD 1.2 billion, which will be satisfied entirely by way of an allotment and issue of 1,940,269,305 Consideration Shares. Upon Completion, the Vendor will own 78% of the Company and the Company shall be re-named as China Everbright Water Limited. The Company will own a total of 32 waste-water treatment plants (with a designed capacity of 3,400,000 tons per day), 4 reusable water projects (with a designed capacity of 62,000 tons per day), 1 waste-water source heat pump project which services an area covering 125,000m2 , 2 completed Build-Transfer projects (with a designed capacity of 110,000 tons per day), 56km pipeline network and 10 pump stations (investment scale equivalent to 250,000 tons per day).
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