Boustead Bags $175m Deal In Libya
Boustead Singapore, through wholly-owned subsidiary Salcon Pte Ltd, was awarded a $175m turnkey contract to design, construct and upgrade a major water infrastructure system in Libya. The deal was clinched together with a local partner, a state-owned utilities company. Under terms of the joint venture, Salcon will hold a 65% interest in the contract, which is its largest secured to date. Commencing in July 2008, the contract is expected to complete by 1Q of 2011.

Sembcorp Marine Secures US$640m Rig Order
Semcorp Marine, through wholly-owned subsidiary Jurong Shipyard, clinched a US$640m contract from Larsen Oil & Gas to build a deepwater semi-submersible drilling rig, scheduled for delivery in April 2011. This latest order is the fourth consecutive newbuild deepwater semi-submersible drilling rig that the owner has placed with Jurong Shipyard.

Sunpower Forges Export Partnership With Sinopec
Sunpower Group forged an export partnership with China Petrochemical International (Sinopec). Under the deal, Sinopec will promote Sunpower’s products, should any of its customers need them. Sunpower stands to benefit from the added opportunity of tapping into Sinopec’s vast global network to greater market its products of pressure vessels, energy savings and environmental protection systems and pipe supports.

KS Energy Proposes 2-for-5 Rights Issue
KS Energy is proposing a 2-for-5 rights issue at $1.60 per rts share to raise up to $174m, which will be used to expand its fleet of oil rigs to meet fast-growing market demand.

Tuan Sing Clinches Collective Sale Of Katong Mall For $219m
Tuan Sing has clinched collective sale of Katong Mall For $219m, which works out to a land price of $865 per square feet of potential gross area including an estimated $24.5m payable to the state to top up the site’s lease to 99 years from a remaining 71 years.