NORDIC, OXLEY: New deals

ChangYehHong2015 Chang Yeh Hong, executive chairman of Nordic Group.NORDIC GROUP: Its wholly-owned subsidiary, Nordic Flow Control, has received a letter of intent worth approximately SGD2 million from a repeat customer, to design, supply and install a hydraulic valve control system on a floating, production, storage and offloading vessel (FPSO).

This project is intended for a tanker conversion to a FPSO vessel in Keppel shipyard, Singapore and will commence in the current quarter and be completed in 1Q 2016.

This project is similar to the previous FPSO design project which Nordic Flow Control completed in the third quarter of 2014.

The new project is not expected to have a material impact on the net tangible assets and earnings per share of Nordic Group for the current financial year.

Ching Chiat Kwong, CEO of Oxley Holdings. OXLEY HOLDINGS: Its wholly-owned subsidiary, Oxley Rising Sdn. Bhd., signed management agreements with Jumeirah Group, the global hotel company and a member of Dubai Holding, to operate a 190-room luxury Jumeirah hotel and to brand 273 premium residences in the heart of Kuala Lumpur, Malaysia.

The agreements were signed by Mr. Dato' Othman Hj. Omar, CEO of Oxley Malaysia, and Mr. Gerald Lawless, President and Group CEO, Jumeirah Group.

Jumeirah Kuala Lumpur hotel and Jumeirah Living Kuala Lumpur residences will be set within one of the three towers which make up the landmark mixed-use development that is set to transform the skyline of Kuala Lumpur.

The three towers, interconnected via a retail podium, will be located in the middle of the Kuala Lumpur City Centre precinct within easy reach of the Petronas Twin Towers, Maxis Tower and the Kuala Lumpur Convention Centre.

Construction of the development, which will cover an area of more than 12,500 square metres (135,000 square feet), is expected to start in 2016 and complete in 2021. Jumeirah Living Kuala Lumpur residences will be located on the lower floors of the tower, and Jumeirah Kuala Lumpur hotel will occupy the upper floors offering spectacular views across the city.

The hotel will feature 190 rooms and suites, an all-day dining restaurant, a fine dining restaurant, a lounge and a bar, as well as a finely appointed Club Executive and a Talise wellness facility comprising a spa, fitness club and swimming pool

NORDIC, OXLEY: New deals

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