KUALA LUMPUR–Yinson Holdings Bhd. (7293.KU) has received a $737.3 million contract to lease a floating production, storage and offloading facility to the Lam Son offshore project in Vietnam, a company statement said Monday.
The floating production facility is expected to be delivered next year and revenue contribution from this project will be “positive” from January 2015, the statement said.
Lam Son is a 50-50 joint venture between Malaysia’s Petroliam Nasional Bhd. and PetroVietnam Oil and Gas Group.
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Orsted A/S’s debt was downgraded by S&P Global Ratings to the lowest tier of investment grade, surprising some analysts days after the Danish wind turbine maker announced a $9 billion rights offering to shore up its finances.
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CK Hutchison Holdings Ltd.’s profit fell 92% in the first half of the year, due to a one-time and non-cash loss on account of the merger of its telecommunications arm with Vodafone Group Plc.
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