Singaporean government-linked corporations are notable for their investments and dealings abroad, as well as their portfolio management methods, which are held up as models for state-owned enterprises. State-owned Temasek Holdings, for instance is often noted has been the subject of an NUS-CIMA study.
Meanwhile, GIC has been the subject of much research often focused on sovereign wealth funds. Singtel has joined a network of partnerships led by Intel and Alibaba Group, while GIC is sourcing for more investment opportunities in West Bengal. In the energy sector, the Singapore-listed Ezra Group has secured contracts worth $115 million.
Singtel joins Alibaba Cloud Computing Alliance in partnership with Aliyun and Intel
Alibaba Group has announced that is cloud-computing unit Aliyun is launching a new partnership with Intel Corp and other major telecoms and Internet companies worldwide, Singtel amongst them.
The tie-up, dubbed the ‘Marketplace Alliance Program’, will tap Intel and other Alibaba partners to localise cloud services, in order to meet regional data needs arising from software development sectors.
Other alliance members internationally include PCCW Ltd. of Hong Kong, Equinix Inc. of the US, Meraas Holdings LLC of Dubai and Linkbynet of France in an official statement.
Intel cloud-service general manager Raejeanne Skillern said, “For years Intel and Alibaba have collaborated on optimising hardware and software technology across the data center for Alibaba’s unique workloads. As a partner in Aliyun’s Marketplace Alliance Program, Intel looks forward to continuing our collaboration to promoting joint technology solutions that are based on Intel Architecture specifically tailored to the rapidly growing market of international public cloud consumers.”
GIC seeks West Bengal deals
GIC Singapore is seeking investment opportunities in the Indian state of West Bengal, after investing in a US$32.5 million in Kolkata Riverside, a 262-acre township. The GIC-invested PE fund, sponsored by HDFC Property, signed an investment agreement with Hiland Group during the Bengal Summit in January 2015.
Kolkata Riverside is a 262-acre township which is building a medical college and a corporate hospital, a school, a cricket and football academy, a film city, other social infrastructure, along with residential facilities that could witness a total investment of approximately USD 1 billion in West Bengal.
GIC was very enthusiastic about development of the state and is keen to participate more actively according to Amit Mitra, finance minister of Bengal. Mitra stated: “They have indicated that they were negotiating with a few others for further investment” said Amit Mitra, finance minister of Bengal state.
Other GLCs, like Temasek and Sembcorp, have been very active in the real estate sector in the state, investing in commercial and industrial properties. PWC Singapore senior partner Abhijit Ghosh has said that Singapore was capable of associating with India for developing smart cities, with the West Bengal government seeking to facilitate six more smart cities.
Ezra secures $115m worth of contracts
The Subsea Services division, EMAS AMC, of Singapore-listed Ezra Holdings Limited (Ezra Group), a contractor and provider of integrated offshore solutions to the oil and gas (O&G), has secured several global contracts with a total contract value in excess of US$115 million, including options.
These contracts include subsea infrastructure work on the Aviat field development in the UK North Sea, signed with Apache in the North Sea. The project scope of work includes project management, detailed engineering, procurement and installation of various infrastructure.
The project mix includes engineering and offshore support work in West Africa for an oil major, to be undertaken jointly with its subsidiary, EMAS Offshore Limited. Other subsea contract work includes ROV support services.
In addition, EMAS Energy together with EMAS AMC will deploy the Lewek Centurion to undertake work in Asia, including installation and maintenance of subsea infrastructure and engineering operations.
Lionel Lee, Ezra’s group CEO and managing director, stated: “EMAS AMC has the infrastructure, engineering capabilities and the vessel capacities for complex pipe lay, umbilical lay and subsea installation work. The Aviat project with Apache proves our position in the North Sea, and the opportunities arising from our frame agreement with them in the region.”
Lee added, “As a Group, we have also showcased our synergy with combination solutions from our different divisions to offer to the industry. I am pleased that our clients and partners continue to recognise our expertise and assets, and these wins will add to our global track record.”