Sembcorp Marine: Sembcorp Marine (SembMarine) announced that its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters, has been awarded an Engineering, Procurement and Construction (EPC) contract for the P-82 Floating, Production, Storage and Offloading (FPSO) vessel through an international tender from Brazilian state-owned oil and gas producer, Petroleo Brasileiro S.A. (Petrobras) for US$3.05 billion ($4.25 billion).
The P-82 is the largest contract secured by Sembcorp Marine from Petrobras and will add more than $4.25 billion to SembMarine's order book of $2.52 billion as at end June.
The newbuild FPSO will be one of the largest vessels to be deployed in the Buzios field, an ultra-deep water oil and gas field covering an area of 853 km² in the pre-salt Santos Basin, about 180 km off the coast of Rio de Janeiro, Brazil.
Cortina: Cortina Holdings plans to buy the fourth floor of 15 Scotts Road for $49 million. The impact is marginally positive for NTA
Cortina Holdings announced on Oct 4, it has been granted the option to buy the entire fourth level of15 Scotts Road. The size is 1,276 sq m, and the cost is $49 million. The vendor is Singapore Institute of Management.
"Currently, our Group’s offices in Singapore operate from leased premises, some of which leases would terminate in the near term. We also envisage organic growth of our Group in the near term which in turn would increase our Group’s requirement for office space. Instead of renting such office space, we have been considering acquiring the same. The Property would be able to satisfy our Group’s need for office space in the near term when the existing tenancies to which the Property is subject terminate at the end of their terms," Cortina says.
EuroSports: EUROAUTOMOBILE has been unable to achieve commercial viability of its Alfa Romeo distributorship due to prevailing market conditions, parent company EuroSports Global said in a bourse filing on Tuesday (Oct 4).
It is for this reason that the company has moved to inform Alfa Romeo’s manufacturer Fiat Auto of its intention to relinquish their agreement to be the brand’s importer and distributor in Singapore, it pointed out.
The announcement came hours afterThe Straits Timesreported that Komoco Holdings is set to take over the exclusive distributorship next year. The newspaper also noted that EuroAutomobile has shut down its Alfa Romeo showroom at Leng Kee Autopoint and laid off four sales staff on Sep 30.
Japan Foods: Japan Foods Holding announced on Oct 4 that the Ministry of Manpower (MOM) is investigating a subsidiary of the group, Japan Foods Enterprises (JFE) under the Employment of Foreign Manpower Act 1990 of Singapore. The company says the investigation relates to certain past hiring and payroll practices in JFE which has since been ceased.
As the Investigation is still ongoing, until further notice from the MOM, JFE has been suspended from applying for new work passes and renewing existing work passes. The Group is taking active steps to mitigate the impact of the suspension, such as the streamlining of operational work-flow at its outlets and the employment of more part-timers and contract staff.