Company Briefs: Samudera Shipping Line

Samudera Shipping Line

The collapse of Hanjin Shipping Co has impacted Samudera Shipping Line, which has existing slot exchange arrangements with the South Korean container carrier for various services. So far, Samudera's net exposure to Hanjin is estimated at between US$2.5 million (S$3.4 million) and US$3 million, which is material to the group's performance for the current financial year. Samudera said its priority is to ensure the continuity and reliability of its service routes. It is looking for replacement cargo on the affected sectors and will undertake the realignment of service routes to mitigate the impact going forward.


Vard Holdings

Mainboard-listed Vard Holdings said its subsidiary, Vard Electro, has secured a contract for the delivery of an equipment and electrical installation package to Cochin Shipyard for a vessel under construction for the Indian government. The value of the contract is about 150 million Norwegian kroner (S$24.7 million).


CWT

CWT said Straits Financial Services, a subsidiary under its financial services arm Straits Financial Group, has been granted a full Capital Markets Services (CMS) licence for trading in futures contracts by the Monetary Authority of Singapore (MAS).

Prior to this, Straits Financial Services was licensed to conduct regulated activity of trading only in commodity derivatives under a partial CMS licence granted by MAS in 2014.

With the restrictions lifted, it is now able to offer a full suite of financial and commodity derivatives, including centrally cleared over-the-counter contracts and contracts-for-differences.


Uni-Asia Holdings

Uni-Asia Holdings has jointly invested, with CPG Investments, in a small residential property project in Japan. The total joint investment amount is 250 million yen (S$3.3 million).

Uni Asia's share amounts to 50 million yen, to be satisfied in cash in full by the end of November, and funded by internal resources.

The company will provide fee-based small residential property development and investment management services to this joint investment project, thereby contributing to the group's fee income.

A version of this article appeared in the print edition of The Straits Times on September 14, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe