offshore

Global Economy

Beyond the Pandora Papers – a question about trust

Today’s global elites might be able to continue to conjure private wealth from law. But no resource can be mined forever.
Keppel Corp chairman Lee Boon Yang to retire, Danny Teoh to take over - THE EDGE SINGAPORE

Company in the news

Keppel Corp chairman Lee Boon Yang to retire, Danny Teoh to take over

"We enjoyed many years of great success but also suffered some setbacks," says Dr Lee.
Government measures to prevent economy from contracting by 5.6%, but Singapore still expected to face a full year recession - THE EDGE SINGAPORE

Singapore economy

Government measures to prevent economy from contracting by 5.6%, but Singapore still expected to face a full year recession

Going into FY21, we foresee the fiscal deficit will continue to be impacted by weak operating revenue,” say RHB economists.

Wanda bonds hit more in China than overseas as risks climb

(Sept 4): Dalian Wanda Commercial Properties Co.’s onshore bondholders appear more anxious about the developer’s future than their offshore counterparts, debt prices suggest, highlighting investors’ uncertainty about how Chinese authorities will dea

CNMC results disappoint again; Second Chance added to portfolio

(Aug 21): Corporate earnings for 2Q2017 were not great. Of the Straits Times Index’s 30 component companies, 14 missed market expectations, while 11 outperformed, says Margaret Yang, an analyst at CMC Markets, citing Bloomberg data. The remaining five c

Results

Vard announces NOK27 mil loss for 1Q on reduced activity

SINGAPORE (May 12): Vard Holdings, the offshore and specialised vessel builder, has posted a loss of NOK27 million ($4.4 million) for the first quarter ended March 31 compared to a gain of NOK43 million in the same period a year ago.

Vallianz ceases Singapore shipyard operations

SINGAPORE (Jan 6): Vallianz Holdings, the offshore support vessel provider, ceased operations at its shipyard in Singapore at the end of 2016 due to “the industry slowdown and discontinuation of business with a key local customer”.

Results

Sembcorp posts 56% fall in 3Q earnings to $54 mil on marine division losses and Gallant Venture impairment

SINGAPORE (Oct 27): Sembcorp Industries reported a drop of 55.9% in 3Q16 earnings to $53.9 million on the back of $13.2 million losses in its marine division and a $46.2 million mark-to-market impairment for Gallant Venture.

Federal Int’l 2000 associate to start on Myanmar project

SINGAPORE (Oct 7): Federal International (2000), says its 20.66%-owned associate, PT Gunanusa Utama Fabricators (PTG), has received confirmation from PTTEP International to proceed with Lot 2 of the Zawtika Development Project Phase 1C in Myanmar.
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