Company News

Singtel’s subsidiary, Optus today announced it has reached agreement with NBN Co on its Hybrid Fibre Coaxial (HFC) network to progressively transfer ownership of its coaxial cable and ancillary assets to NBN Co, while retaining ownership of strategic aerial fibre assets used to connect mobile base stations and business customers so as to enable the accelerated roll-out of Australia’s National Broadband Network (NBN). The agreement will see Optus share spectrum within our coaxial network with NBN Co to enable it to offer services prior to taking ownership of the coaxial network and fully integrating it into the NBN. (Closing Price: S$3.97, -0.501%)

Vallianz Holdings Limited has secured a time charter award worth US$97 million with one of the world’s largest national oil companies in the Middle East to supply a specialised vessel for up to five years from the third quarter of 2015 to support the NOC’s oil and gas production activities in the Middle East. This award adds to Vallianz’s ongoing contracts in the Middle East where it presently deploys 21 offshore support vessels. With this award from the NOC, the Group’s order book will be strengthened from US$529.4 million as at 7 November 2014 to US$626.4 million. (Closing Price: S$0.077, 4.054%)

Swiber Holdings Limited has made its first foray into the offshore oil and gas market in West Africa by securing an award worth US$710 million from a Houston-based oil and gas company to provide Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) services for an offshore field development project. Swiber will commence work on the Project from the first quarter of 2015 and expects completion to take place in the middle of 2017. Year-to-date, Swiber has clinched contracts totaling to US$1.03 billion. (Closing Price: S$0.295, 3.509%)

Sysma Holdings Limited announced today that its wholly-owned subsidiary, Sysma Construction Pte. Ltd. has secured a new contract valued at S$13.5 million to erect a two-storey Detached Dwelling House with basement at Ridout Road. The construction for the new project will take place over a period of 20 months starting from December 2014. This is the fifth project secured in the last three months. With the inclusion of this new project, the order book now stands at approximately S$170 million. (Closing Price: S$0.265, -1.852%)

Keppel REIT Management Limited wishes to announce that the issue price of the new Units to be issued as Consideration Units to Keppel REIT Investment Pte Ltd upon the completion of the Acquisition as partial consideration for the Acquisition has been determined to be S$1.2154 per Unit. Based on the Issue Price, the number of new Units to be issued as Consideration Units to Keppel REIT Investment Pte Ltd shall be 152,213,000 and the trading for these new shares is expected to commerce on 17 December 2014 at 9.00 a.m. (Closing Price: S$1.205, -0.413%)

Yongnam secured a specialist civil engineering contract in Hong Kong for the Central-Wan Chai Bypass Tunnel development and a mechanical engineering contract for Addition & Alteration works for the Trisonic Wind Tunnel in Singapore. The combined value for the two contracts is S$22.8 million. Work for the Central-Wan Chai Bypass Tunnel development project is expected to commence in January 2015, with completion slated for December 2016 while work on the Trisonic Wind Tunnel project is expected to commence in early 2015 and is expected to be completed within the same year. (Closing Price: S$0.189, -1.047%)