Group CEO Bruce Rann at Sinwa's Singapore warehouse. NextInsight file photoSINWA LIMITED has forayed into Thailand to tap on the robust oil offshore exploration and production sector in the Gulf of Thailand. It incorporated Sinwa (Thailand) Ltd. (“STL”) in Thailand on 18 June 2014 with a 49% stake held by its wholly-owned subsidiary Sinwa Offshore Pte Ltd.
The remaining 51% is held by two local Thai nationals, as Thailand regulation requires at least 50% of the operating entity to be held by locals.
STL will primarily be engaged in providing Thailand’s buoyant offshore sector with a wide range of offshore support services, ranging from the supply of provisions, stores and spares to logistics and agency support services.
“This Thailand subsidiary will allow us to better serve existing clients, as well as grant us access to potential clients,” said Mr. Bruce Rann, Group CEO of Sinwa.
The JV will allow Sinwa to increase its supplies to Sodexo, one of Sinwa's largest clients.
Sodexo is a global leader in food catering services which has been growing rapidly in the Gulf of Thailand.
“We have already identified several business opportunities in Thailand, and we are in the process of negotiation,” he added.
To strengthen its regional foothold, the Group’s wholly-owned subsidiary, Sinwa Marine Pte Ltd, had on 16 June 2014 incorporated three wholly-owned subsidiaries in Singapore to expand its business in key Chinese port cities – Qingdao, Dalian and Tianjin.
Sinwa is also beefing up its tugboat logistics operations.
It incorporated another subsidiary, SB Barge Pte. Ltd, to operate barges, tugboats and lighters, as well as provide transportation support services.
As the Group’s core operations require the hiring of barges, tugboats and lighters from other ship operators, its operating costs will be reduced by bring its transportation logistics in-house.
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AusGroup unit secures gold mining service contract
CEO Stuart Kenny. NextInsight file photoAUSGROUP LIMITED’S wholly-owned subsidiary, AGC Industries Pty Ltd (“AGC”), has been awarded a contract by Barrick Gold Corporation, the largest gold mining company in the world.
AGC is a leading maintenance services, construction and fabrication company based in Australian.
The contract was awarded by Barrick’s wholly-owned subsidiary, Barrick (Niugini) Limited, for the provision of maintenance services on the Porgera Gold Mine Lime Kiln Furnaces.
AGC has been awarded a 24-month service agreement to provide maintenance services on two vertical shaft lime kilns, located at Barrick’s Porgera Mine Site in Enga Province, Papua New Guinea.
This service agreement is expected to create jobs for at least 12 highly skilled refractory personnel who will be available on call for mobilisation to site as required.
“The award of this service agreement will build upon AGC’s reputation for performance on projects across Australia and South East Asia,” said AusGroup CEO & Managing Director Stuart Kenny.
The Porgera Gold Mine consists of both open-pit and underground operations in the Enga Province in the highlands of Papua New Guinea.
The mine is located approximately 130 kilometres west of Mount Hagen at an altitude of 2,200 to 2,700 metres.
It is 600 kilometres northwest of Port Moresby and about 680 kilometres by road from the coastal port of Lae, from which all materials are freighted.
Barrick is the owner with a 95% joint venture interest and is the operator of the mine. It is a fly-in, fly-out operation, with personnel flying in from Cairn’s to Mt Hagen and then transferring to another flight into Porgera’s own aerodrome.
National employees also fly-in /fly-out of surrounding provinces in PNG. Porgera operates 24 hours a day, every day of the year, on a rotating shift basis.
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