Singapore Corporate News - 18 Sep 2007

Ezra buys $162m support vessel

EZRA Holdings, which provides offshore support and marine services, has ordered a new multi-functional support vessel for some $162.4 million.

The contract value includes the cost of sophisticated equipment as well as integrated features such as a remotely operated vehicle hangar and foundations for a heave-compensated offshore crane.

When delivered in the first quarter of 2010, this latest vessel will join Ezra's two 30,000 brake horsepower large deepwater Rolls-Royce designed multi-functional support vessels which were ordered in May and scheduled for delivery in 2009 and 2010.

These large vessels will form Ezra's special task force to meet the high, yet varied technical and engineering needs of mid- and deepwater offshore support services and sub-sea support work.
The vessel will be deployed for various offshore duties such as offshore construction, sub-sea installation and installation-maintenance-repair.

This latest contract is payable in stages and will be satisfied through a combination of internal funds and bank borrowings.

Ezra currently manages 25 vessels and is expecting delivery of 11 more vessels by 2010.

OKP Hldgs bags $6.3m JTC contract

OKP Holdings has bagged a $6.3 million contract from JTC. Won through its wholly owned subsidiary Eng Lam Contractors (Co) Pte Ltd, the contract is for civil engineering works at Tuas View, OKP said in announcing the deal yesterday.

The project is part of a continuing series of improvement works by the JTC and the fourth contract that the company has clinched for the upgrading. OKP had earlier in July announced a $4.9 million contract in the same area.

The latest contract includes the final premix surfacing, work relating to road kerbs and road pavements, the desilting of existing drains, reinstatement, landscaping and other ancillary work. The project is expected to start on Oct 8 and to be completed in a year.

Beside the recent JTC contracts, OKP also clinched three contracts totalling $25.5 million from the Public Utilities Board (PUB) in June and July this year. Apart from the JTC and the PUB, OKP undertakes work for other public sector clients, including the Land Transport Authority, the Housing Development Board and the National Parks Board.

OKP is an infrastructure and civil engineering company specialising in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads. In recent times, the company has taken on projects in the oil and gas sector, providing civil construction work for petrochemical plants and oil storage terminals.