Company Briefs: OKP Holdings

OKP Holdings

A subsidiary of infrastructure and civil engineering company OKP Holdings has won an $8.76 million contract from JTC for work in Jurong West.

Its unit Eng Lam Contractors will build a temporary road, including lamp posts, drains and earthworks, it said yesterday.

This is the company's second contract win from JTC this month.

The latest deal will boost its net construction order book to $326.6 million, with contracts extending to 2019.

mm2 Asia

Media content provider mm2 Asia has received the green light from the Singapore Exchange (SGX) to transfer its listing from the Catalist to the mainboard.

It said yesterday the SGX had given in-principle approval for the move. However, the transfer is still subject to the firm's compliance with the mainboard's listing requirements, an immediate announcement of the proposed transfer and shareholder approval.

Written undertakings and confirmation from relevant parties, including the company and directors, will also have to be produced, mm2 Asia added.

The Singapore-based firm was listed on Catalist in 2014.

SIA Engineering Company

SIA Engineering Company (SIAEC) and GE Aviation (GE) have agreed to set up a new engine overhaul joint venture.

They noted in a statement yesterday that the venture will provide a full range of engine maintenance, repair and overhaul services for engines used in some Boeing 777 jets.

GE will have a 51 per cent equity stake in the venture, with SIAEC holding the remaining 49 per cent. The project is subject to finalisation of agreements and regulatory approvals.

The companies said the venture will establish a state-of-the-art facility in Singapore to handle SIA Group as well as third party work.

"This partnership with GE adds to our growing portfolio of joint ventures with the world's leading aircraft and engine manufacturers," said SIAEC chief executive Png Kim Chiang.

The deal is not expected to have a material impact on SIAEC's financial performance this year.

A version of this article appeared in the print edition of The Straits Times on June 21, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe