Company Briefs: Keppel Corp

Keppel Corp

Keppel Seghers Belgium, a unit of Keppel Infrastructure Holdings, has won a US$13.7 million (S$19.5 million) contract to provide technology and services to the Nanshan II waste-to-energy plant in Shenzhen, Guangdong province. The contract is to expand the existing facility with core equipment, design and technical services for the plant's furnace and boiler, the firm said yesterday.

Everything is scheduled to be operational by the end of 2018, and will add 1,650 tonnes per day (TPD) of incineration capacity. This means the facility will be able to process up to 2,450 TPD of municipal waste, up from 800 TPD now.

Bank of Singapore

Bank of Singapore, OCBC Bank's private-banking arm, has completed the acquisition of the wealth and investment management business of Barclays in Singapore and Hong Kong.

The purchase was priced at US$227.5 million (S$324.5 million), it said yesterday, 29 per cent below an initial estimate after the amount of assets being transferred fell. The final price is based on 1.75 per cent of the US$13 billion of Barclays assets transferred to Bank of Singapore, a filing to the Singapore Exchange stated. It also said over 60 bankers have been added. The deal enlarges Bank of Singapore's asset base to more than US$75 billion.

Perisai Capital

Perisai Capital - a unit of the troubled Kuala Lumpur-listed oil and gas services provider Perisai Petroleum Teknologi - filed an application on Nov 25 to strike out a winding-up petition.

A private investor who sank $15 million into the doomed Singdollar bond issue of Perisai Petroleum Teknologi filed an application in October in the Kuala Lumpur High Court for the insolvent firm to be wound up. The aim is to recover some funds after Perisai defaulted on a $125 million bond with an Oct 3 maturity.

Perisai Capital said Dec 5 has been fixed to process the issue.

The Malaysian government has already stepped in to mediate discussions between Perisai Petroleum Teknologi and its creditors on a proposed debt-restructuring scheme.

It was announced on Nov 18 that all lenders were required to observe an informal standstill and withhold proceedings against Perisai Petroleum, the Malaysian associate of offshore services provider EMAS Offshore.

A version of this article appeared in the print edition of The Straits Times on November 29, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe