EMS Energy

EMS Energy morphing into Vietnamese ship repairer in $16.6 mil RTO deal

SINGAPORE (Jan 3): EMS Energy, whose shares have been suspended three years ago, could have finally resolved its business viability issues through the proposed reverse takeover of a Vietnamese ship repairer.

EMS Energy subsidiary to sell off Tuas property for $5.6 mil

SINGAPORE (Oct 17): EMS Energy Solutions, a subsidiary of EMS Energy, is disposing its property at 10 Tuas Avenue 11 to SPCO Holdings for $5.6 million.

The leasehold property is used as a corporate office and production facility by the company, and has been valued for $5.6 million by Dennis Wee Realty.

The proceeds from the sale will be used to repay bank loans, according to EMS Energy.

EMS Energy swings into half-year losses

SINGAPORE (Aug 10): EMS Energy has sunk into half-year losses of $2.9 million from a profit of $1.2 million a year ago on lower sales.

Revenue for the six months to June stood at roughly $16 million, down 64.5% from a year ago.

The weaker top line was due to the reduction in revenue from its Marine and Offshore & Trading segment which fell to $9.91 million from $38.88 million a year ago.

The Water Treatment segment contributed the remaining $6.06 million to the group’s revenue.

EMS Energy announces new contracts worth $1.9 mil amid Swiber fears

SINGAPORE (Aug 1): EMS Energy, the provider of engineering services to the oil and gas and marine industries, on Monday declared that it does not have any business dealing with Swiber Holdings.

This comes after Swiber’s shock announcement on July 28 that it was winding up its business had led investors of local oil and gas stocks to dump their shares over fears the industry is in worse shape than expected.

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