Company briefs : Noble Group

Noble Group

Noble Group chief operating officer William Cronin will retire at the end of this month, the commodity firm announced in a filing to the Singapore Exchange yesterday.

Mr Cronin, 53, will remain as a part-time consultant, in the role of vice-chairman for the Americas. He was appointed to his current role in December 2012 to oversee Noble's energy segment and operations in North and South America.

Earlier this month, Noble learnt that it will be removed from Singapore's benchmark Straits Times Index from March 21.

Noble's exit from the STI was the latest in a long string of setbacks over the past year, with plunging commodity prices and accusations of accounting issues hurting the company.

Noble shares closed 0.5 cent or 1.22 per cent higher at 41.5 cents ahead of the SGX announcement.

Sunpower Group

Sunpower Group has secured contracts worth 116.1 million yuan (S$24.6 million) from Jiangsu Xinhua Semiconductor and Sinopec.

The contracts announced yesterday involve China-based Sunpower supplying 34 reduction furnaces to Jiangsu Xinhua Semiconductor Materials Technology. It will also provide Sinopec Shanghai Engineering with piping support for an Inner Mongolia project.

The mainboard-listed firm said the deals will boost its 2016 financial results.

Sunpower shares closed down half a cent or 1.92 per cent at 25.5 cents ahead of the announcement.

Vard Holdings

Vard Holdings has signed a letter of intent to build four luxury expedition cruise vessels for French firm Ponant, it announced yesterday.

The vessels will be delivered from Norway in 2018 and 2019.

The two parties plan to ink the contract in the second quarter of this year.

No figures have been disclosed yet.

The mainboard-listed firm is majority-owned by Fincantieri, a global player in shipbuilding.

Vard chief executive Roy Reite said in the SGX statement: "This project is fully in line with our diversification strategy to enter the expedition cruise market, realising synergies and increased operation with Fincantieri."

Vard shares closed 1.2 cents or 6.22 per cent higher at 20.5 cents after the announcement.

A version of this article appeared in the print edition of The Straits Times on March 17, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe