Corporate digest

ISOTeam

BUILDING maintenance firm ISOTeam has won contracts totalling S$21.38 million, which takes the total amount of projects secured in the financial year to date to S$42.26 million.

Among the contracts, to be progressively completed by October 2022, are a S$10.5 million deal for an interior-rejuvenation project for one of the integrated resorts in Singapore, and four repair-and-redecoration projects worth about S$8.65 million, including works to 20 blocks in Holland Close, Holland Avenue, Holland Drive, Commonwealth Close and Commonwealth Drive.

Ezion

A WHOLLY-OWNED subsidiary of Ezion Holdings, Teras Offshore, has landed a contract for US$83.4 million from Foxwell Energy Corp for the transportation and installation of 31 9.5 megawatt (MW) offshore wind turbines.

In a filing to the Singapore Exchange on Monday, Ezion said that the contract is for a one-year period and is set to commence in September 2024. The project is thus not expected to have a material impact on the group's earnings per share or net tangible assets for the financial year ending Dec 31, 2020.

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Foxwell, an affiliate company of renewable energy firm Shinfox Corp, had won the tender from Taiwan Power Co to develop Phase 2 of the Taiwanese state-run utility's offshore wind farm for US$2.11 billion.

Sevak

SEVAK is proposing to transfer the company's listing from the mainboard to the Catalist board of the Singapore Exchange.

Sevak believes that being listed on the Catalist will position the company appropriately and better enable it to attract investors in the future. It also believes that the business, market cap and risk profile of the group are more similar to those firms on Catalist, which are typically fast growing.

The proposed transfer is subject to in-principle approval from the Singapore Exchange, as well as shareholder approval. The company plans to call an extraordinary general meeting by way of special resolution.