METAL-STAMPING firm CFM Holdings, which had said in its half-year results ended Dec 31, 2014, that its Singapore subsidiary had on Jan 7 this year obtained Temporary Occupation Permit (TOP) for a factory building, said on Friday that it has come to the management's attention that "the TOP was not issued by the proper authority". The Friday announcement said: "This (obtaining of TOP) disclosure was made on the basis that the company had received an email from its architect that TOP had been issued." It added that the management is now working with the relevant parties - including the authorities and the company's contractors and advisers - to determine the extent of the impact and the risks to the group and to take the necessary action to regularise the issuance of TOP. The H1 results, released on Feb 9, said that CFM "has subsequently leased out 12,000 square feet of total rentable area of 25,000 square feet".
SINGAPORE Exchange and Zhengzhou Commodity Exchange have inked a memorandum of understanding to collaborate on efforts to jointly develop and expand the commodities markets in China and Singapore. They will explore areas of cooperation such as the development of new commodity derivative products, joint commodity-related events, information sharing, training as well as education programmes.
Hiap Seng Engineering
HIAP Seng Engineering has won a contract worth about S$43 million for the provision of mechanical works for the Mogas-Cogen Project on Jurong Island.
Work has started and the project is slated for completion by September 2016.