Company Briefs: Kim Heng Offshore & Marine

Kim Heng Offshore & Marine

Kim Heng Offshore & Marine Holdings has bought three vessels - the Swiber Anne-Christine, Swiber Else-Marie and Swiber Mary-Ann - for a bargain US$9.6 million (S$13.3 million) in total.

The vessels will be used to perform tow services for its clients' jack-up rigs and salvage operations. The group also aims to deploy the vessels for long-term charters.

Kim Heng said in a statement yesterday that the oil and gas downturn "enabled the group to acquire these assets at extremely low valuations". The vessels were previously valued at about US$33 million each.

The purchases are part of efforts to prepare for an eventual turnaround in the sector, the company added.

Singapore Medical Group

SMG Kids Clinic, a wholly-owned unit of the Singapore Medical Group, will acquire paediatric clinics Children's Clinic Central and Kids Clinic @ Bishan for $25.3 million.

The sellers are a group of senior paediatricians.

Singapore Medical Group said the acquisition will expand its offerings into paediatric services and provide synergies with its obstetrics and gynaecology practices.

The clinics, located in the heartland, will allow the group to expand its demographic of patients as well as increase its visibility and promote its brand in these new locations.

Soilbuild Construction Group

SB Project Services, a wholly-owned unit of Soilbuild Construction Group, will subscribe to a 70 per cent stake in CS Corp.

CS Corp has developed a concrete prefabricated prefinished volumetric construction system which has been granted in-principle acceptance for use in building projects in Singapore by the Building and Construction Authority.

CS Corp will commercialise the system and invest up to $4 million to launch its business in the design, manufacturing, supply and assembly of prefabricated prefinished volumetric construction modules.

"The group believes that embracing new technology, adopting and implementing it in the course of our business is key to ensuring the group stays relevant and continues its growth in the sector in the long run," said Soilbuild Construction executive director Ho Toon Bah.

A version of this article appeared in the print edition of The Straits Times on June 13, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe