Federal International (2000) secures $80 mil in new orders

SINGAPORE (Oct 1): Federal International (2000) says it secured five contracts amounting to a total of US$58.4 million ($80 million), the largest being a US$51.3 million five-year charter hire contract for Federal II, a floating, storage and offloading (FSO) vessel owned by the group’s subsidiary, Eastern Jason Fabrication Services (EJFS).

This comes after the group’s previous charter agreement between China National Offshore Oil Corporation (CNOOC) and PT Eastern Jason PTEJ – which secured the five-year charter hire contract and is 30%-owned by EJFS – expired on Sept 5.

Analysts in favour of Sembcorp Industries' latest UK acquisition for earnings & growth prospects

SINGAPORE (June 4): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls on Sembcorp Industries as they like the group’s latest acquisition of UK Power Reserve (UKPR), the UK’s largest flexible distributed energy generator.

The deal marks one of the first major steps the group has taken in recycling its utilities assets post its strategic review in early-2018.

China Aviation Oil kept at 'buy' on positive growth outlook & compelling valuations

SINGAPORE (May 30): RHB Research is maintaining its “buy” call on China Aviation Oil (CAO) with an unchanged target price of $1.80 or 11.9 times FY18F earnings.

This comes after RHB hosted the group’s recently-appointed CFO, Xu Guohong, at a non-deal roadshow (NDR), where Xu reiterated the group’s focus on growing its core jet fuel business via higher investments in international operations.

In a Monday report, analyst Shekhar Jaiswal opines that CAO’s valuations remain compelling, considering how CAO's share price of $1.61 is 0.73 times FY18F PE growth.

What's holding corporates back from investing in smart power?

SINGAPORE (Apr 11): Regulatory issues are currently present one of the biggest hindrances to smart power advancement, according to Baker McKenzie’s latest report.

Produced together with online daily news & data service provider Clean Energy Pipeline, Smart Power Revolution: Opportunities and Challenges surveyed over 200 senior corporate executive, developers, investors, banks and energy service providers worldwide, out of which 18% are based in Asia Pacific.

Why Sembcorp faces limited threat from an open electricity market: OCBC

SINGAPORE (Mar 22): OCBC Research is maintaining its “buy” call on Sembcorp Industries (SCI) with a fair value of $3.59 despite further liberalisation of Singapore’s retail electricity market which brings higher competition along with it.

Union Gas FY17 earnings fall 11.1% to $4.2 mil on higher admin expenses

SINGAPORE (Feb 27): Union Gas Holdings reported a profit of $4.2 million for the FY17 ended Dec 2017, down 11.1% from $4.7 million a year ago on higher administrative expenses.

Revenue for the full year grew 9.7% to $39.2 million from $35.7 million a year ago, mainly due to higher revenue from the retail of bottled liquefied petroleum gas (LPG) cylinders to households in Singapore, as well as the sale and distribution of diesel to retail and commercial customers.

Federal International 2000 announces 41.7% lower FY17 earnings of $4.2 mil

SINGAPORE (Feb 26): Federal International (2000) reported a 68.9% decline in 4Q earnings to $1.1 million from $3.7 million a year ago on lower other income. This brings the group’s earnings for the full year to $4.2 million, down 41.7% from $7.3 million in FY16 due to lower margins.

Revenue for the full year grew 45.2% to $130 million compared to $89.5 million on the back of higher revenue contributions from the group’s Trading business segment.

Keppel posts 30% rise in 3Q earnings to $292 mil; announces new urban solutions unit

SINGAPORE (Oct 19): Keppel Corporation has announced earnings of $291.8 million for the 3Q17 ended Sept, up 30% from $224.5 million in 3Q16.

This came on the back of higher profits from the group’s China and Vietnam property trading, power & gas and asset management businesses, as well as the sale of investments.

Revenue for the quarter grew 11% to $1.6 billion compared to $1.5 billion a year ago.

Pre-tax profit for the property division rose 27% or $53 million to $252 million due mainly to higher revenue from Vietnam.

At close to 200 years old, this company is seeking young blood

SINGAPORE (July 7): As one of Singapore’s oldest companies, Boustead Singapore has cycled through numerous businesses including commodity trading, tin smelting, shipping and the distribution of consumer goods.

The company has stayed in business since it was founded in 1828 thanks to its ability to constantly reinvent itself.

Today, it has three divisions: industrial real estate solutions, held through its 51% stake in its industrial property arm Boustead Projects; energy-related engineering; and geospatial technology.

Saudi Aramco trading arm hiring staff for Singapore push

SINGAPORE (June 1): The trading arm of oil giant Saudi Aramco is looking to step up hiring for its Singapore office as it pushes into the regional energy hub, three sources with knowledge of the matter said.

The office aims to employ 10 to 15 staff by year-end after opening with one person in late 2015, said one of the sources. That would include operational, analytical and administrative workers.

A spokesman for Saudi Aramco Products Trading Company did not answer calls from Reuters.

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