Stock price 

27 c

52-week
range

22 – 45 c

PE (ttm)

27

Market cap

S$37 m

Shares outstanding

140.8 m

Dividend 
yield
(ttm)

5.7%

Year-to-date return

-22%

Source: Bloomberg

Federal International (2000), an integrated service provider and procurement specialist in the oil and gas, energy, utilities and infrastructure industries, announced it has secured five contracts amounting to US$58.4 million.

The largest, by far, is a US$51.3 million contract to charter its floating, storage and offloading vessel through its wholly-owned subsidiary, Eastern Jason Fabrication Services Pte Ltd (“EJFS”).


PT Eastern Jason (“PTEJ”) secured a 5-year charter hire contract of US$51.3 million with PT Pertamina Hulu Energi OSES on 6 Sept 2018.

EJFS owns an effective 30% equity stake in PTEJ.

The Group’s previous charter agreement between China National Offshore Oil Corporation (“CNOOC”) and PTEJ expired on 5 Sept 2018. Federal II will continue to be deployed at the Widuri Field in Indonesia.

KKKoh 3.2017Federal executive chairman KK Koh: "Once again, our Group has demonstrated our resilience and capability to secure contracts despite intense competition and tough operating conditions in our industry."
NextInsight file photo.
The other contracts:
♦ Fire Suppression Project – US$4.7 million
Federal’s wholly-owned subsidiary, Federal Fire Engineering Pte Ltd (“FFE”), has been awarded a contract to design, supply, install, test and commission fire suppression systems for 52 electrical substations for a government agency in Singapore.

The contract period is scheduled for eight months commencing in September 2018 and expected to be completed by May 2019.

♦ Toll Roads Procurement Supply Projects – US$0.9 million
PT Fedsin Rekayasa Pratama (“FRP”), a wholly-owned subsidiary of Federal Hardware Engineering Co. Pte Ltd. (“FHE”), won a US$480,000 contract from PT Talaga Sari Utama Indonesia (“TSU”) for the supply of stone aggregate base coarst A for foundation works to build 6-km network of toll roads.

FRP has also secured a US$433,000 contract from PT Pilarbuana Persada (“PP”) for supply of stone aggregate base coarst A for a 6-km toll road at Proyek Pembangunan Jalan Tol Pemantang Panggang to Kayu Agung Seksi 1A in South Sumatra, Indonesia. 

♦ Procurement Supply of Steel Plates – US$1.5 million
FRP has inked a contract with PT Bakrie Metal Industries (“BMI”) for the supply of steel plates to PT Acset Indonusa Tbk (“AI”) for the toll road project in Jakarta-Cikampek II Elevated, Indonesia.

For more details, see press release.

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