Harkand ,TSM pulling out of Singapore

[liddelljohn]

i have heard that Harkand are going to close singapore office and move all assets to Europe and USA and that TSM will do similar move assets to OZ to concentrate on core market ,,

Also that some other players have similar plans , probably sensible business decisions
reasons seem to be lack of work in Indonesia ,phillipines and malaysia and cutbacks by oil explorers in bringing projects online as well as fierce competition from the likes of Fugro,Oceaaneering and Alam and other new players,numbers of new ROVs in asia have climbed recently but they are in the hands of new small players ,,,and potential for more work in EU and USA .

perhaps raptor has more info on this .

[Roy Simson]

Well the information that I was told was that both Fugro and Harkand are moving to Oz .
But many company’s and people have left Singapore due to the high cost of things down there . But every body now is cutting back on over heads in my view it will go like 2009 .

One more interesting point is that Royal Boskalis Westminster N.V. (Boskalis) has acquired a 14.8% stake in Fugro N.V. So I wonder whats the future holds there .

[liddelljohn]

Boskalis are an impressive company ,, the ROV division is small, but very well run and they do take care of staff welfare ,and equipment and jobs are well planned and executed ,,unlike FUGRO ,,,,,, the only downside is that Boskalis are also rampant cost cutters and love to drive down all costs including rates ,,,,, they are good to work for but you wont get top money.

I think they smell blood in the water and believe they can make a difference with thier efficient managment and cost control to make increasing profits and garner a bigger piece of the pie …

i would not bet against them .

[Author]

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