Company Briefs: BBR Holdings

BBR Holdings

Mainboard-listed BBR Holdings has secured a design-and-build contract for a mixed development project comprising a mall and residential apartments in Yishun.

The $116 million contract was awarded by NorthernOne Development.

The Wisteria, as the project is called, spans about 170,000 sq ft and is the first prefabricated, prefinished volumetric construction (PPVC) development under the Government Land Sales programme.

The PPVC technology will cut construction time and dust, increase productivity and improve quality of construction.

Nordic Group

Marine systems firm Nordic Group has clinched six new contracts worth $4.3 million.

Its wholly-owned subsidiary Nordic Flow Control secured three contracts from repeat customers to supply and install a hydraulic-valve remote control system, tank gauging system and motorised valve. Nordic Flow Control has also secured a contract from a new customer for supply and installation of a hydraulic-valve remote control system.

Austin Energy (Asia), another of its wholly-owned subsidiaries, also secured two contracts to provide labour and materials to perform piping insulation work and architectural installation work.

SBI Offshore

Offshore support services firm SBI Offshore announced yesterday that its 51-per-cent- owned subsidiary, Graess Energy, has been awarded the right to sell solar power in the Maldives.

GSS, a related company of Graess Energy, will design, engineer and build the solar photovoltaic system to be installed on the rooftops of government buildings in the Greater Male region.

Graess Energy will form a special-purpose company with China Machinery Engineering Corporation (CMEC) to own, operate and sell solar power to the State Electric Company, which is wholly owned by the Maldives government.

CMEC will own 70 per cent and Graess Energy will hold the remaining 30 per cent stake in the special-purpose company.

The photovoltaic system will cost about US$3.5 million (S$5 million) and total revenue from the sale of power is expected to be about US$550,000 per year.

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A version of this article appeared in the print edition of The Straits Times on October 02, 2015, with the headline Company Briefs: BBR Holdings. Subscribe