Company Briefs: Soilbuild Construction Group

Soilbuild Construction Group

Soilbuild Construction Group has been awarded a $149.4 million HDB contract to build Bedok Food City, a five-storey food complex in Bedok North Avenue 4.

The project is expected to start this quarter and will take about two years and eight months to complete. This latest contract has raised the group's order book to $562.2 million.

The project is not expected to have a material impact on the company's consolidated net tangible assets and earnings per share for the financial year ending Dec 31.


OCBC Bank

OCBC has priced €500 million (S$752 million) of fixed rate covered bonds due in 2022.

The covered bonds, to be issued on March 21, will bear interest at a fixed rate of 0.25 per cent per year. The proceeds will be used for general corporate purposes, the bank said.

The bonds are expected to be listed on the Singapore Exchange on March 22.


Sarine Technologies

Mainboard-listed Sarine Technologies has opened a facility in Surat, India, consolidating all its Surat-based activities for the Indian diamond market under one roof.

The company develops, manufactures and sells precision technology products for the evaluation, planning, processing, finishing and trading of diamonds and other gems.

Surat is India's diamond manufacturing hub. The new 55,000 sq ft facility houses about 400 staff. Named Sarin House, the building is wholly-owned by the company's Indian subsidiary, Sarin India.


ecoWise Holdings

Environmental solutions company ecoWise Holdings intends to sell its 15 per cent stake in Chongqing Zhongtian Electronic Waste Management to Zhongtian Environment Protection Industrial Group for five million yuan (S$1 million).

Chongqing Zhongtian Electronic Waste Management is a Chinese company which recycles electrical and electronic waste. It has been making losses due to unfavourable market conditions in China as well as dwindling government subsidies.

ecoWise said the sale will allow it to recoup most of its original 5.25 million yuan investment in the company.

A version of this article appeared in the print edition of The Straits Times on March 16, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe