Company briefs: Triyards Holdings

Triyards Holdings

Offshore and marine service provider Triyards Holdings has clinched contracts worth US$20.64 million (S$29.13 million) for the fabrication of two passenger ferries.

The order wins from two ferry operators were secured by Strategic Marine, a wholly owned subsidiary of Triyards.

One order is for the building of a passenger ferry for Pentland Ferries, a Scottish ferry operator.

The other is for a high-speed passenger ferry for an Asian operator.

Triyards said the latest contract wins are a significant step forward for Strategic Marine in its efforts to build further momentum in the expanding market and in its diversification plans.

Ezra Holdings

Debt-laden Ezra Holdings has received a notice to terminate what remains of a 10-year bareboat charter on Lewek Champion, a vessel in Emas Offshore's operating fleet.

The owner, Hai Jiang 1401, also made a claim against Ezra, as guarantor to the bareboat charter, and demanded a payment of the termination sum of US$194.5 million within 15 business days from March 9.

In addition, Mr Joshua James Taylor and Mr Yit Chee Wah of FTI Consulting (Singapore) have been appointed by Hai Jiang 1401 as the joint receivers and managers of certain assets of Lewek Champion Shipping.

Ezra said it is seeking legal advice and assessing the impact of these developments.

China Star Food Group

China Star Food Group has been granted the operating licence for its new manufacturing plant in Liancheng, China.

The plant occupies a 13,910 sq m plot of land in the Food Processing Zone of Liancheng Industrial Park with a lease of 50 years. It costs 100 million yuan (S$20.43 million) to set up and has a production capacity of about 30,000 tonnes, exceeding the combined capacity of the group's two factories.

The company will relocate all its production operations to the new plant.

The new factory will begin production next month, allowing the company to introduce new products that command higher margins, it said in a statement.

A version of this article appeared in the print edition of The Straits Times on March 14, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe