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Singapore Daily Bulletin – 06/02/12

Artivision Ties Up With Intel
Artivision Technology (Artivision) has signed a memorandum of understanding (MOU) with Intel Corp to incorporate its front-end in-video advertisement serving technology into Intel’s Software Development Kit (SDK). The MOU is expected to last 4 months, of which, the first working SDK with Artivision’s front-end and back-end technology will be deployed on a demo mobile device. The tie-up makes Artivision the first Singapore company with video content analysis and advertisement serving technologies to tie up with Intel. The firm described the deal as a breakthrough for its effectors to distribute its state-of-the-art video technology to the mass market. This is the second significant deal the firm has signed in the past 6 months. Last year, it announced that it had signed a $42 million deal with Chinese technology giant, Beijing Daheng Innovative Technology to exclusively adopt its AVision software for its surveillance and hardware applications.

Significance: If the MOU produces a viable device carrying Artivision’s software, a new agreement could provide the company with a new strong earnings stream. Coupled with the previous China deal, prospects for 2012 could look increasingly brighter for the firm.

Swiber Begins 2012 With Contract Wins Worth US$254m
Swiber Holdings (Swiber), an integrated construction and support services provider to the offshore industry announced that it has been awarded contracts worth US$216 million ($269 million) for offshore construction projects and vessel chartering services in Southeast Asia and South Asia. In addition, its joint venture (JV) in the Middle East has also secured a contract win amounting to US$38 million ($47.3 million) for vessel chartering services in the Middle East. The contract win by its JV company represents its first foray into the Middle East and is a major milestone for Swiber. The series of contract wins by Swiber is a combination of repeat orders from existing clients as well as contract wins from new customers. The firm feels that these wins are a testament of its top-notch solutions as well as strong asset and resource capabilities, to meet the stringent requirements of its customers.

Significance: With this slew of contract wins, Swiber has maintained a healthy order backlog of over US$1 billion. In comparison with contract wins in 1Q11, the new wins are larger in size and Swiber opines that this signals “phenomenal growth of the offshore oil and gas sector”.

Sembcorp Marine Secures US$792.5m Contract
Sembcorp Marine’s Brazilian shipyard, Estaleiro Jurong Aracruz has secured a contract worth approximately US$792.5 million ($986.4 million) from Sete Brasil Participacões (Sete Brasil). The contract entails the design and construction of a drillship based on Jurong Shipyard’s proprietary Jurong Espadon drillship design. Sembcorp Marine feels that this contract win is particularly significant as it is the first drillship to be built by its Brazilian shipyard as well as its first foray in terms of drillship construction in the country. It notes that the fact Sete Brasil has chosen its design, proves that the drillship’s high-specification capabilities and innovative design are a notch above its peers.

Significance: Sembcorp Marine believes that this new order will be the first of many other orders in Sete Brasil’s ambitious drillship programme. The drillship is scheduled to be delivered by 2Q15 and will be among a series of drillships to be built in Brazil to cater to the recent oil and gas discoveries in the offshore giant pre-salt fields.