CollinSeow.com – Singapore Remisier Stocks Blog

More Positive News On The Horizon
Ezion has just begun supplying and operating vessels for its A$350m Gorgon contract. However, we believe it is already in good standing to secure further contracts for Western Australia’s overall development of its offshore gas fields. Besides future phases for Gorgon, Ezion could be in the running for other adjacent gas field projects such as Wheatstone.

Wheatstone Gets A Major Boost
In the biggest energy deal in Australia’s history, Chevron has recently signed a US$82b contract to supply over 4m tonnes p.a. of liquefied natural gas to Tokyo Electric over the next 20 years from the Wheatstone field, and to also sell a 11.25% stake in the project. This deal essentially puts the overall Wheatstone project firmly on track to be launched shortly. Read the rest of this entry »

High market liquidity to support restructuring

By Saifur Rahman, Business Editor, Gulf News
Dubai: British banks’ exposure to the UAE has reached $49.9 billion (Dh183.13 billion), according to the Bank for International Settlements (BIS) data, including $29.3 billion owed to HSBC and Standard Chartered Bank.

HSBC’s exposure, according to BIS data, stood at $17 billion while Standard Chartered Bank’s claim is expected to be around $12.3 billion to Dubai World — a minuscule amount compared to their global businesses.
Dubai World is currently in discussions with the banks to restructure about $26 billion of its debts.
HSBC’s Middle East business represents only two per cent of its global operations.

Read the rest of this entry »