Sapphire Corporation said its newly acquired rail engineering specialist Ranken Infrastructure has secured a fresh 373 million yuan (S$82 million) contract in Taiyuan City, Shanxi province, taking the total value of new orders recently won to 1.3 billion yuan.
The latest project by China-based Ranken involves designing and developing part of the Taiyuan Metro-Line 2, the city's first metro line. Ranken will construct 1.6km of the 23.4km metro line, including two tunnels and a train station.
DBS Bank has launched a new unsecured working capital loan to help small businesses grow.
Under the scheme, the bank seeks to plug the credit gap faced by small businesses which are unable to obtain short-tenor unsecured loans of less than one year.
With DBS mLoan, these businesses can obtain a working capital loan of up to $100,000 with no collateral required.
DBS said it is able to pioneer the provision of credit to underserved small businesses under an innovative approach to assess applications and manage credit risk.
PACC Offshore Services Holdings
Offshore marine services provider PACC Offshore Services Holdings (Posh) said its specialist offshore service contractor joint venture, Posh Terasea, has secured a project to provide towage and positioning services for Shell.
Posh Terasea will undertake to tow the Shell Prelude floating liquefied natural gas (LNG) platform - the world's largest offshore facility ever constructed - over 3,000 nautical miles from Samsung Shipyard in Geoje, South Korea, where it is being built, to Australia, where it will be deployed.
Posh Terasea will then position the platform before it begins production at the Prelude gasfield in the Browse LNG Basin, 200km off the north-west coast of Australia.