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Thursday, November 29, 2012

Stocks of The Day - Singapore Exchange

COSCO Corporation (Singapore) Limited:
COSCO bags contract worth over US$41m.The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Guangdong) Shipyard Co., Ltd has secured a contract from a European company to build the two bulk carriers of 35,500 dwt each will be built.

The total contract value for the two bulk carriers is over US$41 million. Both vessels are scheduled for delivery in the second half of 2014.

Olam International Ltd:
Singapore's Olam International Ltd rose 3 %, after hitting a 3.5 year low on Wednesday, as analysts said the commodity trader's detailed defence against allegations from short-seller Muddy Waters was largely satisfactory.

SembMarine wins US$806m deal
SembCorp Marine Ltd, through its Jurong Offshore Pte Ltd's wholly-owned subsidiary, has secured a drillship contract worth US$806.4 million from Sete Brazil Participators SA (Sete Brasil).

The contract will be for the design and construction of a drillship based on Jurong Shipyard's proprietary Jurong Espadon drillship design, it said Thursday.

The unit is scheduled for delivery no later than the third quarter of 2016.

This is the seventh unit of a series of drillships secured by the group since February 2012, Sembcorp Marine said.

KTL Global Ltd:
It has received orders worth around US$9.3 million (S$11.3 million) from two subsidiaries of Ezra Holdings Ltd.

It will be supplying US$3.2 million worth of mooring chains and accessories under the first order from EMAS Offshore Construction, and US$6.1 million worth of side thruster and shaft, and reduction gearbox propellers, under the second order from Triyards Marine Services Pte Ltd.

KTL expects these deals to contribute to its financial performance for the year ending June 30, 2013.

CapitaLand unit Allamanda Residential Development has placed the top bid for a 99-year leasehold private housing site at Bishan Street 14. Its bid of S$505.1 million, or S$852.94 per square foot per plot ratio (psf ppr), was 3.1 per cent higher than the next highest bid of S$490.1 million (S$827.61 psf ppr) from a joint venture involving Singland Homes, UOL Venture Investments, and Orix Investment and Management.

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