Offshore marine services company Swiber reported a $90.9m profit for 2013 with revenues surging past the $1bn mark for the first time.

Mermaid Marine Australia is to buy all the businesses of Jaya Holdings for SGD625m ($495.2m) following a strategic review of the Singapore company announced on 9 September last year.

Saudi Arabian oil and gas services firm Rawabi Holdings have invested $35.2m in Singapore’s Vallianz Holdings.

Kim Heng Offshore & Marine enjoyed a good first day’s trading on the Singapore Exchange (SGX) its shares rising 18%.

Kim Heng Offshore & Marine’s initial public offering on the Singapore Exchange (SGX) was 5.8 times subscribed.

Kim Heng Marine & Offshore Holdings is aiming to raise SGD40m ($31.4m) from an initial public offering (IPO) on the Singapore Exchange second board Catalist.

The initial public offering (IPO) of Pacific Radiance on the Singapore Exchange was 2.2 times subscribed.

STX Pan Ocean’s debt rehabilitation plan would see it converting $1.26bn worth of debt into shares.

STX Pan Ocean has axed $225m worth of newbuilding orders as part of its rehabilitation plan.

The senior management exodus from Singapore-listed First Ship Lease Trust (FSL Trust) continues.

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