CSE Global

[greengiraffe]

http://infopub.sgx.com/FileOpen/Contract...eID=325019

Contract Wins in Gulf of Mexico
Singapore, 17 November 2014 – CSE Global Limited (“CSE” or the “Group), a
provider of integrated solutions to the oil and gas(O&G) industry, announced today
that its wholly-owned US subsidiary, CSE W-Industries, Inc. has won two contracts
from a US energy company valued at US$17 million (approximately S$ 22 million) for
a deepwater project in the Gulf of Mexico.
Work has commenced for the two contracts, slated for offshore execution from Q4
2014 to Q4 2015.

[almond]

I just noticed an interesting announcement posted on 16 April 2015

"Mr Tan Mok Koon, who was retiring pursuant to Article 95 of the Company's Articles of Association did not stand for re-election at the Company's Annual General Meeting (the "AGM") on 16 April 2015, retired as a Director of the Company at the conclusion of the AGM."

Isn't he one of the founders of the co?

By not standing for re-election, does this mean he is effectively out of the company?

[mscheng13]

I just noticed an interesting announcement posted on 16 April 2015

"Mr Tan Mok Koon, who was retiring pursuant to Article 95 of the Company's Articles of Association did not stand for re-election at the Company's Annual General Meeting (the "AGM") on 16 April 2015, retired as a Director of the Company at the conclusion of the AGM."

Isn't he one of the founders of the co?

By not standing for re-election, does this mean he is effectively out of the company?

It will be disappointing if he is out, he is one of the founders who helped to bring the company to where it is today.

He still has about 10% stake in the coy though.

[egghead]

If you've been following this company, you should not find this a surprise.

[almond]

Do you mean his taking of sabbatical leave in 2012 was preparatory to leaving the company?

If you've been following this company, you should not find this a surprise.

I have emailed the co's IR to ask if he still has any business relationship with the co, but no reply so far

[egghead]

Do you mean his taking of sabbatical leave in 2012 was preparatory to leaving the company?

More than that. Other than the one year sabbatical, he handed over the CEO position to Alan Stubb some time back; became executive vice-chair; then became non-exec; when Servelec was divested, the current CEO took over - not him; until now not standing for re-election as a director of the board.

IIRC, he is (still) a minority shareholder for a few CSE acquisitions (e.g. power diesel).

[Debronic]

http://www.channelnewsasia.com/news/busi...47700.html

New ERP tender won by MHI-NCS consortium. This could well be positive for CSE which is a subcontractor to MHI in the current ERP system.

[egghead]

Yes, and the only question is the value of CSE portion.

[asphodeli]

Hi,

Stupid question, but CSE Global is an engineering company primarily serving O&G industry, or what? From its webpage, it's so vague I don't even know what they do (besides engineering)

[CCUV]

Hi,

Stupid question, but CSE Global is an engineering company primarily serving O&G industry, or what? From its webpage, it's so vague I don't even know what they do (besides engineering)

Asphodeli, they have 70-80% of their business coming from the O&G industry, so the fortune of the company depend heavily on the health of the industry. Order books had slow from 250m ish to 190m ish.