Singapore-based private equity investment firm Pavilion Capital Fund Holdings, a subsidiary of Temasek Holdings, is planning to subscribe up to SGD $50 million ($38 million) worth of shares from Singapore oil & gas player Ezion Holdings.
The money will be used mainly for business expansion and the pursuit of new business opportunities, joint ventures or partnerships with various strategic industry partners and for working capital purposes, said Ezion Holdings on Friday (6 April).
The company reported net loss of $1.02 billion for the financial year ended 31 December 2017 (FY 2017).
Its revenue for FY 2017 decreased by $125.1 million (39.3%) to $193.1 million as compared to FY 2016. The decrease in revenue was mainly due to a variety of factors including drop in utilisation rate of jack-up rigs and its offshore support vessels, and an overall reduction in charter rates.
Related: Ezion Holdings says $1 billion loss ‘likely’
Photo credit: Quadrise
Published: 10 April, 2018
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.