Wednesday, April 15, 2015

Market News In 2 Minutes @ 15th April 2015 (Huationg Global, Otto Marine, Swiber Holdings)

As stock investors (even though a small one), it is important to keep abreast with the latest financial and market news. Since I am in it, I thought it might be worthwhile to share it out with my readers too.

Hence, I started this "Market News In 2 Minutes" series.

Following are the "Market News In 2 Minutes" for today :

1. Huationg Global (41B) - Secured a new civil engineering contract from the Housing and Development Board (HDB) worth $19.5 million, through its wholly-owned subsidiary, Huationg Contractor. The group will carry out road widening and construction of road related facilities along Tampines Avenue 9. Expected to be delivered by the second quarter of 2017, the contract raises its order book to approximately $130.6 million as at 14 April 2015. The group sees buoyant activity in Singapore’s public infrastructure works and continues to leverage on their strong track record to secure larger value-added projects. (source : Shares Investment)

2. Otto Marine (G4F) - Delivered four newly built vessels worth US$36.6 million. Its shipyard, PT Batamec, completed the construction of two units of harbour tugs and two units of anchor handling tug supply for PT Pertamina Trans Kontinental (PTK). The group looks forward to fostering closer business ties with PTK and looks forward to more business opportunities. The group also expects the shipyard to make sustained contribution to its long-term growth as it continues to provide fabrication, repairs and conversions services to customers and their fleets, building vessels for selective shipbuilding orders. (source : Shares Investment)

3. Swiber Holdings (AK3) - Clinched its third major award in India in the last three months, a US$133 million contract for engineering, procurement, installation and construction services. The project by the same national oil company awarded Swiber two major contracts in February and March is scheduled for completion by the second quarter of 2016, bringing the group’s order book to almost US$2 billion. Swiber is optimistic about prospects in their target markets despite oil prices falling and capital expenditure being cut back. Swiber believes that their strategy of establishing long-term relationships with clients and suppliers placed them in a good stead for a time like this. (source : Shares Investment)


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