Company Briefs: Jason Holdings

Jason Holdings

The board of Jason Holdings and its subsidiaries has disclosed that Mr New Sze Wei, an employee of its principal operating unit Jason Parquet Specialist (Singapore), was interviewed by the Commercial Affairs Department on Aug 30 for a possible offence under the Penal Code.

A former employee of the same unit, Ms Amy Chan, was interviewed on Sept 9, it said in a Singapore Exchange filing.

The company said in a separate announcement that it received a letter of demand, dated Aug 30, from accounting and advisory firm KPMG for about S$41,000 for services rendered and disbursements incurred.

KPMG said it would commence legal proceedings if payment was not made by Sept 9. The directors said that KPMG's claim would have a material adverse impact on the company.

Shares of Jason Holdings, a flooring specialist, remain suspended.


Federal International (2000)

An associate of energy equipment company Federal International (2000) is on track to win a project worth S$155 million from PTTEP International (PTTEPI).

The project, awarded to PT Gunanusa Utama Fabricators (PTG), is for the engineering, procurement, construction and installation of two offshore platforms, pipelines and tie-ins for the Zawtika Development Project Phase 1C.

It is expected to take 19 months to complete.

PTTEPI has the option to award additional platforms to PTG on or before July 31 next year, also valued at US$155 million (S$212 million).

Federal International, which has a 20.66 per cent interest in PTG, has signed a deal with PTG to provide procurement and other ancillary support services for the project.

The project increases Federal International's current order book to about S$90 million.


Rotary Engineering

Mainboard-listed Rotary Engineering, a regional oil and gas engineering company, said it has clinched contracts worth S$64 million between June and September this year.

It said in a statement that despite the challenging oil and gas industry, the company remains resilient by securing smaller and more varied jobs beyond tank storage construction.

It won a key project as the main contractor for the extension of a chemical storage and handling facility in the United Arab Emirates.

A version of this article appeared in the print edition of The Straits Times on September 17, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe