Company briefs : Mencast Holdings

Mencast Holdings

Offshore & engineering, marine and energy services provider Mencast Holdings reported that S&W Engineering and Mr Wong Chung Kang have filed a suit against it to negate a profit warranty undertaken by the engineering firm and Mr Wong under a prior sale and purchase agreement.

They are seeking to have the profit warranty declared void and unenforceable, plus a sum of $2.35 million allegedly due from Mencast under the agreement, as well as damages in relation to Mr Wong's employment with the company's subsidiary, S&W.

Mencast said it is seeking legal advice and will take all necessary measures to resist and refute the claims.

OKP Holdings

Mainboard-listed infrastructure and civil engineering company OKP Holdings said its wholly-owned subsidiary, Eng Lam Contractors, has won an $18 million contract for the improvement of the drainage system along Lorong 22 to 44, Geylang, from national water agency PUB.

Under the 30-month contract, Eng Lam will be upgrading drains and culverts along the above-mentioned Geylang areas.

The contract is expected to be completed by December 2018.

Earlier this month, Eng Lam was awarded two contracts worth $54.7 million by the Land Transport Authority for road resurfacing works along seven major expressways.

With these latest contracts, the total value of contracts secured this year amounted to $82.5 million and boosted the net construction order book to $394.8 million, with contracts extending to 2019.

Cosco Corporation (Singapore)

Cosco Corporation (Singapore) said that Cosco (Dalian) Shipyard, a subsidiary of its 51 per cent-owned Cosco Shipyard Group, has delivered a module carrier to its European buyer.

Cosco Singapore delivered six vessels in the first quarter: two oil tankers, a salvage-lifting vessel, a livestock carrier, a platform supply vessel and a semi-submersible accommodation vessel.

A version of this article appeared in the print edition of The Straits Times on June 22, 2016, with the headline 'Company briefs'. Subscribe