Foreign business news in brief

  • Business
  • Tuesday, 21 Oct 2003

Samsung wins US$770mil ship orders 


SEOUL: Samsung Heavy Industries Co has won orders worth US$770mil for five liquefied natural gas (LNG) carriers from Britain and Qatar. A Samsung official said British Gas had ordered three LNG vessels and Qatar’s RASGAS two, at an average price of US$153.3mil each.  

The deals raise the order book at Samsung, the world’s largest shipbuilder, to US$9bil for over 130 vessels. – Reuters 

For Another perspective from The Korea Herald, a partner of Asia News Network, click here



ST Engineering unit gets US$39mil job 


SINGAPORE: Local defence conglomerate ST Engineering Ltd said the US National Oceanic and Atmospheric Administration (NOAA) had exercised its option to build a second fisheries vessel worth US$39mil.  

The vessel, to be built by ST Engineering’s US unit VT Halter Marine, is slated for completion by the third quarter of 2006. Halter Marine had last December clinched a contract to build NOAA’s first fisheries survey vessel for US$42mil, with options for three more such craft. – Reuters  

For another perspective from The Straits Times, a partner of Asia News Network, click here.


DBS Thai Danu plans rights issue 


BANGKOK: DBS Thai Danu Bank, a unit of Singapore’s DBS Group Holdings Ltd, plans to raise at least 6.7 billion baht (US$169mil) from a rights issue next year.  

Its president, Pornsanong Tuchinda, said the funds raised would be used to redeem its hybrid securities, which would help reduce its interest expenses. – Reuters  

For Another perspective from The Nation, a partner of Asia News Network, click here


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