engineering

Ley Choon sinks into 4Q, FY19 losses on lower margins

SINGAPORE (May 30): Ley Choon Group reported a loss of $5.2 million for the 4Q ended March, sinking into the red from its 4Q18 profit of $0.3 million due to lower margins.  

This brings the group to a full year loss of $9.6 million as opposed to FY18 earnings of $1.5 million a year ago.

Revenue for 4Q19 grew 2.8% y-o-y to $27.9 million from $27.1 million due to higher contributions from small diameter pipe projections, as well as the sale of construction materials.

CSE Global improves earnings, maintains shale focus; no joint projects with shareholder Serba Dinamik for now

SINGAPORE (April 22): When Malaysian engineering firm Serba Dinamik Holdings became the largest shareholder in systems integrator CSE Global last year, both parties talked about how they could work on projects together. One year on, no joint venture projects have been announced, as the companies are still trying to better understand each other’s capability.

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Yongnam FY18 loss widens to $51 mil on revenue decline, provisions & overheads

SINGAPORE (Feb 28): Yongnam Holdings, the engineering and construction services provider, reported FY18 loss widened to $51 million from $17 million a year ago due to lower revenue across all segments.

In the group’s results announcement on Thursday, Yongnam notes that its bottomline was further impacted by provisions made in anticipation of lower negotiated variation orders for two structural steelworks projects, and lower margins for Thomson MRT projects.

AusGroup reports 87.9% fall in 2Q earnings to A$0.5 mil on reduced operating activity

SINGAPORE (Feb 13): Construction and engineering company AusGroup saw its earnings fall 87.9% y-o-y to A$0.49 million ($0.47 million) for the 2Q ended Dec 2018 as compared to earnings of A$4.8 million in 2Q18, due to reduced operating activity.

This brings the group’s earnings for 1H19 to A$1.8 million, down fourfold from A$7.2 million in the previous year.

7 high-tech jobs to arrive in the near future, as envisioned by Cognizant

SINGAPORE (Oct 23): In Cognizant’s opinion, humans have never been more integral to the future of work – even as the emergence of artificial intelligence (AI) continues to change the global work environment.

The multinational IT corporation last year in November published 21 Jobs of the Future: A Guide to Getting and Staying Employed in the Next 10 Years, in which it proposed 21 new jobs that would emerge from a world of AI, automation, algorithms, bots and big data.

TEE International subsidiaries secure new engineering contracts worth $58 mil

SINGAPORE (Oct 16): TEE International’s wholly-owned subsidiaries, PBT Engineering and Trans Equatorial Engineering, have been awarded new engineering contracts worth $58 million to carry out asset enhancement initiative (AEI) and mechanical & electrical (M&E) works for both repeat and new clients.

World's top activist fund sets eyes on one of Singapore's banks

SINGAPORE (Aug 28): The world’s best-performing activist fund returned 103% in seven months by targeting mainly smaller Asian companies in industries from commodities to engineering and food.

Now, it’s getting ready to take on one of Singapore’s banks, according to Judah Value Activist Fund’s July newsletter obtained by Bloomberg.

“We are building a bigger position in this bank before we craft an open shareholder letter with proposals to improve operational efficiency that will unlock and increase value in the company,” the newsletter said. It didn’t name the lender.

NTU jointly launches Dyson's first on-campus engineering studio in Asia for aspiring technopreneurs

SINGAPORE (Aug 27): Nanyang Technological University (NTU) and Dyson have jointly launched the Dyson-NTU Studio, an engineering studio that offers a semester-long undergraduate course module to NTU engineering students.  

Known as the Product Development Challenge module, the course will be guided by NTU professors and Dyson engineers, and is due to commence this academic year. It will see up to 20 students enroll each semester.

MTI foresees slower 2H for Singapore's economy; maintains 2018 GDP growth forecast at 2.5-3.5%

SINGAPORE (Aug 13): The Ministry of Trade and Industry (MTI) expects Singapore’s economic pace of expansion to moderate in 2H18 against an external backdrop of a weakening global growth outlook, as well as increased uncertainties and risks in the global economy.

This comes even as MTI maintains its GDP growth forecast for 2018 at 2.5-3.5%, highlighting the “strong performance” of the Singapore economy in the first half of the year.

KPMG partners A*STAR to establish first joint lab in professional services sector

SINGAPORE (July 27): KPMG and the Agency for Science, Technology and Research (A*STAR) have signed a three-year master research collaboration agreement (MRCA) together, with the intention of jointly establishing a data-science powered laboratory in the professional services sector.

The two entities have made an initial joint investment of $5 million for KPMG and A*STAR’s Institute for Infocomm Research (IRR) to launch their inaugural joint laboratory, which will mark KPMG’s first joint laboratory in Singapore as well as A*STAR’s foray into the professional services industry.

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