Swiber Applies for Judicial Management Instead of Liquidation
recouping the full value of debt for creditors. "Today, the company and its subsidiary, Swiber Offshore Construction Pte Ltd (SOC), have taken out applications to place the Company and SOC under judicial management and interim judicial management," Swiber said in a filing to the Singapore Exchange. "As a consequence, the company has applied to discharge the provisional liquidation order and to withdraw the winding up application." Swiber also said there was an error in its earlier announcement that its Chief Finance Officer and three directors had resigned
Swissco Doubles Rig Fleet
SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units, bringing the fleet of rigs to eight. As announced on 15 August 2014 on the Singapore Exchange, the rigs have up to two-year contracts worth about US$94.8 million and are being deployed in Latin America. Mr. Kelvin Tang, Group Chief Investment Officer of Swissco, said: “Our expansion into the upstream continues to gain momentum with the completion of this acquisition. In a span of about two
Otto Marine Brings in Subsea Adviser
has appointed UOB Kay Hian Holdings Limited to advise the group on strategic options, aimed to develop the international profile and competitive position of its subsea services unit in the increasingly growing segment. Such options include but are not limited to a potential listing on the on the Singapore Exchange Securities Trading Limited (SGX-ST). According to Otto Marine, the group remains committed to the business and the review is intended to pursue profitable growth and enhance shareholder value. Commenting on the group’s strategic approach, Michael See, Group Executive Director, said
St Engineering's Land Systems Arm Inject Capital in Brazil
Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of S$6.63b in FY2013 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more
Rex IH Gives Norway Drilling, License Updates
Rex International Holding gives drilling and license status update on its portfolio in Norway Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA. Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “Besides growing our portfolio through farm-ins, participation in government award of licenses and
COSCO Corporation (Singapore) announced 2Q 2014 results
Singapore Exchange mainboard-listed COSCO Corporation (Singapore) Limited a leading ship repair & marine engineering and shipping group, today announced its 2nd quarter financial results for the 3 months ended 30 June 2014. Group turnover increased 28.8% to $1.1 billion in Q2 2014 from $890.3 million in Q2 2013 supported by the increase in shipyard revenue. Turnover from shipyard operations increased 29.3% to $1.1 billion in Q2 2014 from $877.2 million in Q2 2013 mainly on higher revenue contributions from ship repair, ship building and marine engineering segments. The Group delivered 3 bulk
Ezra to Consolidate EMAS Marine into EOC
appointed as Ezra’s financial adviser in relation to the proposed consolidation exercise. Proposed secondary listing on SGX-ST In connection with the proposed consolidation, EOC is considering a potential secondary listing and quotation of all the shares of EOC on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). Further, it is contemplated that Ezra will undertake a secondary sale of shares of up to $20 million in the Norwegian market directed at EOC’s existing shareholders in the Norwegian Central Securities Depository (VPS), at the same price as the proposed
Rex Group Completes Drilling of First Oman Exploration Well
Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, referred to the announcement issued on December 24, 2013 in which Masirah Oil Limited, a 64% owned subsidiary of its jointly-controlled entity, Lime Petroleum Plc , had suspended, for safety reasons, drilling of its first exploration well, Masirah North North #1 in Block 50 Oman for further evaluation. The MNN #1 well was drilled to a total depth of approximately 1,000 meters below mean sea level. Mud losses in two carbonate sections of the well prevented Masirah
Rex International Joint Entity Spuds First Well in Oman
Rex International Holding Limited, one of the largest companies listed on the Catalyst of the Singapore Exchange Securities Trading Limited, announced that its jointly-controlled entity, Lime Petroleum Plc, through its subsidiary Masirah Oil Ltd., has begun drilling and exploration well in Masirah North North #1 (MNN #1), located in the Block 50 Oman concession, on November 25, 2013. This is part of a two-well drilling program in the concession. The prospect MNN #1, which is about 1,000 meters in depth, was selected for drilling after in-depth technical evaluation and verification using the proprieta
February 2024
