Company Briefs: Sunpower Group

Sunpower Group

A consortium comprising Sunpower Technology, Citic Envirotech and Guangdong Keying Zhiran Environmental was awarded the tender for a public-private partnership project in Shantou Chaonan, in China's Guangdong province.

The 3.2 billion yuan (S$660 million) project comprises co-generation power and centralised steam facilities, an industrial wastewater treatment plant, a water recycling plant and related ancillary assets.

It will be completed in phases; the investment for the first phase is about two billion yuan.

The Trendlines Group

A firm linked to Singapore-listed Trendlines has won US$2.25 million (S$3.2 million) in funding to start marketing and distributing a new surgical instrument used in abdominal operations.

Gordian Surgical, a portfolio company of Trendlines, has just won United States Food and Drug Administration regulatory clearance for the device.

"Gordian developed (the device) to give surgeons two-in-one functionality: the device acts both as a trocar, through which surgical instruments enter the abdomen, and a device to close internal incisions made during surgery," Trendlines said in a statement on the Singapore Exchange website yesterday.

A trocar is a surgical instrument with a three-sided cutting point enclosed in a tube, used for withdrawing fluid from a body cavity.

The aim is to market and distribute the instrument in the US and Europe, the firm said.

Mermaid Maritime

The construction contract for a subsea vessel has been cancelled amid a challenging oil and gas market, offshore services firm Mermaid Maritime said.

The owner of the vessel, Mermaid Offshore Services, had already paid US$20.4 million (S$29 million) to the builder, China Merchants Industry Holdings.

The remaining US$124.8 million would have been due upon delivery.

Under the termination agreement, the builder retains the prepaid sum and all the materials and equipment forming part of the vessel, while Mermaid no longer has to pay the balance.

Mermaid also recovered US$1 million as compensation for termination and release.

A version of this article appeared in the print edition of The Straits Times on December 08, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe