The largest, by far, is a US$51.3 million contract to charter its floating, storage and offloading vessel through its wholly-owned subsidiary, Eastern Jason Fabrication Services Pte Ltd (“EJFS”). |
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PT Eastern Jason (“PTEJ”) secured a 5-year charter hire contract of US$51.3 million with PT Pertamina Hulu Energi OSES on 6 Sept 2018.
EJFS owns an effective 30% equity stake in PTEJ.
The Group’s previous charter agreement between China National Offshore Oil Corporation (“CNOOC”) and PTEJ expired on 5 Sept 2018. Federal II will continue to be deployed at the Widuri Field in Indonesia.
Federal executive chairman KK Koh: "Once again, our Group has demonstrated our resilience and capability to secure contracts despite intense competition and tough operating conditions in our industry."
NextInsight file photo.The other contracts:
♦ Fire Suppression Project – US$4.7 million
Federal’s wholly-owned subsidiary, Federal Fire Engineering Pte Ltd (“FFE”), has been awarded a contract to design, supply, install, test and commission fire suppression systems for 52 electrical substations for a government agency in Singapore.
The contract period is scheduled for eight months commencing in September 2018 and expected to be completed by May 2019.
♦ Toll Roads Procurement Supply Projects – US$0.9 million
PT Fedsin Rekayasa Pratama (“FRP”), a wholly-owned subsidiary of Federal Hardware Engineering Co. Pte Ltd. (“FHE”), won a US$480,000 contract from PT Talaga Sari Utama Indonesia (“TSU”) for the supply of stone aggregate base coarst A for foundation works to build 6-km network of toll roads.
FRP has also secured a US$433,000 contract from PT Pilarbuana Persada (“PP”) for supply of stone aggregate base coarst A for a 6-km toll road at Proyek Pembangunan Jalan Tol Pemantang Panggang to Kayu Agung Seksi 1A in South Sumatra, Indonesia.
♦ Procurement Supply of Steel Plates – US$1.5 million
FRP has inked a contract with PT Bakrie Metal Industries (“BMI”) for the supply of steel plates to PT Acset Indonusa Tbk (“AI”) for the toll road project in Jakarta-Cikampek II Elevated, Indonesia.
For more details, see press release.
