Company Briefs: KSH Holdings

KSH Holdings

Construction group KSH Holdings has clinched a $145.7 million contract from the National University of Singapore to erect a research building comprising 16 floors and a basement.

The project, which will lift KSH's order book to over $360 million, is expected to commence on April 1, and be completed within 24 months.

It is expected to progressively contribute to KSH's financial performance from next year.

Singapore Airlines

Singapore Airlines Cargo will study the grounds of decision by the EU antitrust regulators to fine it and several other airlines a total of €776 million (S$1.17 billion) for taking part in an air cargo cartel more than 10 years ago, after which it will consider an appropriate course of action.

"Arising from the €74.8 million administrative fine imposed by the European Commission, a financial provision of approximately S$111.8 million may be made in the financial statements of Singapore Airlines Cargo for the current financial year," it said.

Neither Singapore Airlines nor Singapore Airlines Cargo will comment further in the meantime as the matters are part of an ongoing legal process.

Keppel Corporation

Keppel Corporation yesterday announced that Mr Chris Ong, managing director of Keppel Fels, will be concurrently appointed acting chief executive officer of Keppel Offshore & Marine (Keppel O&M) with effect from April 1.

The 42-year-old will succeed Mr Chow Yew Yuen, 62, who will retire on March 31, after 36 years of service with the Keppel group.

Keppel Corp CEO and Keppel O&M chairman Loh Chin Hua said Mr Ong is part of the talent pool which the group has been nurturing for leadership succession at Keppel O&M.

"He has been with the Keppel group for 17 years, and has contributed significantly to building Keppel Fels into the global leader in the offshore business that it is today," Mr Loh said.

A version of this article appeared in the print edition of The Straits Times on March 21, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe