Company Briefs: Addvalue Technologies

Addvalue Technologies

Addvalue Technologies has signed a deal with a partner to offer its maritime product and data solutions bundle to deep-sea fishing vessels.

Such vessels are normally out at sea for an extended period of time and reliable and affordable communication is critical to improve their operational efficiency, crew welfare and safety, said Addvalue. But voice or data calls at sea come at a high cost, it added.

Under the agreement, Addvalue and the unnamed partner will commence a two-month market trial from November, followed by a commercial rollout. The trial will involve a "system test" of a new application that will prevent bill shock and at the same time provide chatting service for voice or text messages at "very affordable rates", said Addvalue.

Addvalue and its partner aim to capture a market size of at least 500 vessels.

Addvalue chairman and chief executive officer Colin Chan said the partnership will not only contribute to hardware sales but could also generate a monthly recurring revenue of about US$200,000 (S$273,000).

Keppel Corp

Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured a floating production storage and offloading vessel (FPSO) conversion contract from SBM Offshore, its 25th major project for the longstanding customer. The deal is to convert a very large crude carrier into an FPSO which, upon completion, will be deployed to the Liza field about 193km off Guyana. The dollar value of the contract was not disclosed.

The shipyard's brief includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules.

Keppel said the deal is not expected to have a material impact on its net tangible assets or earnings per share for the current financial year.

Ezion Holdings

Ezion Holdings will convene a second informal meeting for holders of its $120 million series 009 DBS-backed notes on Oct 19. The agenda is to provide note holders with an update on the developments since the first informal meeting.

On Monday, the company held a similar meeting with holders of its series 003 to series 008 notes and perpetuities, in which it laid out a debt refinancing plan from which the series 009 notes were excluded.

A version of this article appeared in the print edition of The Straits Times on October 06, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe