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Headliners (Ezra, GreatEast, Lian Beng, Nam Cheong)
Headliners | 31 August 2012
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By: Jade Lee
Articles (97) Profile

Ezra Holdings’ engineering and fabrication division, TRIYARDS Holdings has been granted conditional eligibility to list on the main board of the Singapore Exchange. TRIYARDS specialises in the fabrication of self-elevating units (SEUs) and platforms, offshore vessels and specialised offshore equipment. TRIYARDS will be listed through a dividend in specie whereby Ezra shareholders will receive one TRIYARDS share for every 10 Ezra shares. Ezra intends to distribute around 33% of TRIYARDS shares through this exercise. Ezra will retain majority control of 67% of TRIYARDS after the proposed listing. Lionel Lee, Ezra’s managing director was quoted as saying that the proposed listing of TRIYARDS was testament of Ezra’s confidence in its “established track record in shipbuilding, offshore platform and subsea module fabrication”. Lee expects TRIYARDS to focus on developing its core business while establishing its own mark in the industry.

Great Eastern Sells 25%-Stake In China JV
Great Eastern Holdings announced the sale of a 25% stake in its China joint venture, Great Eastern Life Assurance (China) Company to Chongqing City Construction Investment (Group) Company (CCCIG) for Rmb303m. The 50:50 joint venture between the company and Chongqing Land Properties Group was set up in May-06. Upon completion of the sale, the joint venture will be renamed Zhong Xin Ancheng Life Insurance Company. The addition of CCCIG into the joint venture will strengthen and add value to the partnership given their experience and success in Ancheng Property and Casualty Insurance. The venture can also leverage on the highly regarded and well-established Ancheng branding to enhance penetration in the Chinese market. Meanwhile, Chief executive officer of Great Eastern, Chris Wei noted that China is an attractive market for the company and the sale will be a significant step towards the strategic repositioning of its China business and paves the way for future expansion of branch network through further localisation.

Lian Beng’s JV Wins $169m Contract
Lian Beng Group, in its 50:50 joint venture company with Paul. Y Construction and Engineering, was awarded a contract by Luxury Green Development, a member of Hong Kong-listed Cheung Kong Holdings. The contract is worth approximately $169m and comprises of the main building works of the condominium project consisting of nine blocks at Upper Thomson Road known as “Thomson Grand”. Work on the project is due to commence in Aug-12 and estimated to complete by Feb-15. Lian Beng is pleased to win its first contract in its maiden joint venture with Paul Y and notes that this will provide the momentum for more future opportunities with its joint venture partner. The addition of this new contract to Lian Beng’s portfolio will strengthen its order book to a commendable $736.4m.

Nam Cheong Secures Contracts Worth US$43.8m
Nam Cheong International, a wholly owned subsidiary of Nam Cheong announced that it had secured sale contracts to the tune of US$43.8m ($54.8m). The contracts entail the sales of two units of 5,150 brake horsepower Anchor Handling Towing Supply (AHTS) vessels and one unit of 3,000 dead weight tonne Platform Supply Vessel (PSV). The vessels are scheduled for delivery between 4Q12 and 1Q13. The PSV will be deployed in West Africa while the AHTS vessels will be deployed to South America and the Middle East. Leong Seng Keat, executive director of Nam Cheong said that the contract to a new West African customer will effectively expand the company’s geographical market. Leong added that the “new customer services the oil and gas industries in one of the oil-rich nations in the West African region” and is thus a welcomed development for the company.

Jade manages and oversees a portfolio of stocks which are mainly focused on the mining and property sectors at Shares Investment.

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Ezra Hldgs  -- -- --   
Business: Co is a provider of integrated offshore solutions to the oil & gas industry. [FY16 Turnover] Marine Services (68.9%), offshore support and production services (25.7%), subsea services (5.4%).

Insight: Oct-17, The US Bankruptcy Court approved the appli... Read More
Great Eastern Hldgs  21.660 -0.02 -0.09%   
Business: Unit of OCBC. Turnover comprised of gross premiums, invs, interest and rental income, fees & other income as well as gain/loss on sale of invs.

Insight: May-19, 1Q19 gross premiums rose 6.5% partly due t... Read More
Lian Beng Group  0.495 -0.005 -1.00%   
Business: A construction co with integrated civil engineering & support service capabilities. [FY18 Turnover] Construction (43.6%), mfg of concrete (24.4%), ppty development (14.5%), dormitory (9.1%), investment holding (8.3%), engineering & leasing of machinery (0.1%).

Insight: Apr-19, 9M19 revenue dipped 1% due to decreased re... Read More
Nam Cheong  0.006 -- --   
Business: An offshore marine group specialising in the building of offshore support vessels. [FY18 Turnover] Shipbuilding (59.2%), vessel chartering (40.8%).

Insight: May-19, 1Q19 revenue jumped multiple times to RM29... Read More

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