Chip Eng Seng wins S$233m contract
Singapore
CHIP Eng Seng Corporation was among the companies that announced contract wins on Monday.
The construction firm said that it has won a S$232.8 million contract through its wholly owned subsidiary.
The contract was awarded by the Housing & Development Board for the construction of nine blocks of residential buildings and other community facilities at Woodlands. The construction is expected to be completed by the middle of 2018.
This would boost its order book, which stood at S$548 million as at June 30, 2014.
In October, the construction company sold S$150 million worth of fixed-rate notes, which paid a coupon of 4.25 per cent per annum. Chip Eng Seng said then that funds from the issuance - which was heavily subscribed - could be used to scale up its business.
On the same day, Ntegrator International announced that it has won S$20.1 million worth of contracts from four repeat customers.
Of the eight contracts, one "substantial" contract is from a regional service provider for the supply of services for the installation of fibre cable to provide broadband services for commercial customers. The company did not disclose the customer's name.
Three contracts are for the supply of TV transmitters and an antenna system to Myanmar Radio and Television. The group was also awarded a cable recovery contract from Sino Huawei Technologies Pte Ltd.
Pacific Radiance, which provides integrated offshore marine services, said that it has deployed its newly delivered offshore support vessel on a charter in South-east Asia.
The vessel is on a five-year contract worth more than US$70 million, including extension options, with a repeat client. The charter is expected to contribute to the company's earnings from the fourth quarter this year.
"We are still in a growth phase and will continue to focus on increasing our presence in emerging markets with high E&P (exploration and production) spending," said Pang Yoke Min, executive chairman of Pacific Radiance, in a media statement.
Shares of Chip Eng Seng rose half a Singapore cent to finish at S$0.885 on Monday, while shares of Ntegrator International gained 0.3 Singapore cents at S$0.033.
But shares of Pacific Radiance lost 1.5 Singapore cents to end at S$1.05.
