Singapore’s Triyards Holdings has announced that it has secured $17.8m worth of new orders whilst strengthening its foothold in the renewable energy sector.
The new orders include three wind farm support vessels, which are secured from new customers, and a luxury river cruise vessel.
“These contracts are the result of our conscientious efforts to diversify our client base and product offering. In addition, the wind farm vessel orders attest to our growing standing in the renewable energy market,” said Chan Eng Yew, ceo of Triyards.
“We will continue to establish a greater foothold in this sector as well as seek opportunities in addition to those in a traditional market,” he added.
Triyards reported a net profit of $5.3m and 15% higher revenues at $70.5m for the second quarter of 2016.
We are confident that our versatile capabilities will enable us to stay resilient in this difficult operating environment. Our focus remains on delivering on our orderbook and executing on our successful diversification strategy,” Chan said.
In the announcement which Triyards released on 7th April, there was no attention given to Corporate Governance , surely this is as important as financial results.
Since presenting my serious matters of concerns to the Audit Committee Chairpersons of both EZRA Holdings and Triyards Holdings Ltd in 2014 and 2015, both have stepped down, together with several other Board Members. Coincidence or not, the matters surrounding the acquisition of the Strategic Marine assets, still require investigating in a transparent manner.
Isn’t it about time that Mr. Chan demonstrated the commitment stated in the Annual Report, to maintain a high standard of corporate governance and transparency within the Company and its subsidiaries?