Fare review committee headed by former judge Richard Magnus

 A 13-member committee has been selected to review the way public transport fares are adjusted.

Headed by former judge Richard Magnus and comprising of parties from the Public Transport Council, Land Transport Authority and academia, the committee will review the effectiveness of the current fare adjustment formula and propose improvements to the formula and the overall framework for fare adjustments.

The committee is expected to complete its review and present its recommendations to the Minister for Transport in early 2013.

PUB to embark on 4 new drainage projects to prevent flooding

 National water agency PUB will go on four new drainage projects to improve protection against floods. These include projects at Marymount Road, Queen Astrid Park, Benoi Road and Wan Lee Road.

Works at Marymount Road will start this month and involves the construction of a drain which runs under the road at the junction of Marymount Road and Bishan Street 21.

The new drain will run alongside an existing one and these are expected to alleviate floods by improving the flow capacity of the drainage system serving the area.

As excavation on the road will be carried out, traffic will be diverted in stages to facilitate the construction.

Offshore services provider Swiber said on Monday its joint

Offshore services provider Swiber said on Monday its joint
venture firm, PT Rajawali Swiber Cakrawala, had won a contract
worth around $175 million from an oil major for offshore
engineering, procurement, construction and installation works in
Indonesia.    
      The scope of work for Swiber's consortium partner, PT SMOE
Indonesia, is worth about $63 million. PT SOME Indonesia is a
unit of Singapore's Sembcorp Marine.    
       
PT BERLIAN LAJU TANKER TBK     
Berlian Laju Tanker (BLT), Indonesia's largest oil and gas
shipping firm listed in Jakarta and Singapore, said on Friday
FTI Consulting had stepped down as an advisor for the company's
restructuring.    
      After announcing a debt standstill, BLT had contracted FTI
to oversee its restructuring in January as mandated by major
banks.   

DBS said its target price of S$0.43 is pegged at six times Kreuz's 2012 fiscal year earnings, which it said is at a "conservative" 10 percent discount to the firm's Singapore-listed small-cap offshore services peers.

The buoyant offshore market is likely to drive good order flows for Kreuz, leading to a compound annual growth rate of 15 percent for 2011-2013 fiscal year net profit, said DBS, adding that catalysts should come from new order wins in the near term.