Company Briefs: Addvalue Technologies

Addvalue Technologies

A unit of mainboard-listed communications technology firm Addvalue Technologies said yesterday that it has successfully completed a year of testing a terminal in space.

The terminal uses what it calls an inter-satellite data relay system to communicate with satellites in low earth orbit, the zone manned space stations and most satellites operate in.

The firm said the tests showed that using the system to communicate "can significantly improve the operation" of these satellites.

Addvalue Technologies plans to make the system commercially ready to cater to operators of such satellites and other spacecraft.

SIIC Environment Holdings

Water-treatment specialist SIIC Environment Holdings said its unit - of which it owns 75.5 per cent - has been awarded a project by the Housing and Urban Development Bureau in China's Yiyang North City.

The 99.5 million yuan (S$20.7 million) contract includes building and operating a wastewater treatment plant with a capacity ranging from 40,000 to 80,000 tonnes a day for 30 years.

This is not expected to have a material impact on the net tangible assets and earnings per share of the firm for the year ending Dec 31.

Cosco Corp Singapore

Shipbuilding and shipping group Cosco Corp Singapore said yesterday its parent firm, China Cosco Shipping Corp, will restructure its shipyard businesses.

A new unit called Cosco Shipping Heavy Industry has been set up. The parent firm said the restructuring is meant to centralise operations and management of the shipyard businesses and will affect Cosco Corp Singapore.

China Cosco Shipping Corp is looking at various ways to carry out the restructuring, and "during this process, there will exist significant uncertainty" which may affect the price of the Singapore firm's securities here.

Cosco Corp Singapore said the parent firm will notify it of the plans in about one month.

It added that it will not be appropriate for trading to continue until the plans are finalised, and will ask the Singapore Exchange to change the trading halt - that started on Monday - into a trading suspension.

A version of this article appeared in the print edition of The Straits Times on December 21, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe