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Adarash Kumar News

21 Jan 2018

Emas Offshore CEO Capt. Adarash Kumar Resigns

Singapore-based Emas Offshore announced that CEO and Executive Director Capt. Adarash Kumar has tendered his resignation and his last day of service will be on April 6, 2018. In a stock exchange filing, the operating brand for Ezra Holdings said that Kumar will continue in his duties and responsibilities pending the appointment of a suitable candidate in due course. He was appointed to the Board as Non-Independent, Non-Executive Director on 26 Aug 2014, and re-designated as an Executive Director on 1 May 2015. He was appointed CEO on 25 Sep 2015. Capt. Kumar has over 35 years of experience in the marine industry. Capt. Kumar started…

31 Oct 2016

Emas Offshore Sinks Deeper into Red

EMAS Offshore Limited announced today a net loss of US$265.3 million for the full year ended 31 August 2016 (“FY2016”). Net loss for the three months ended 31 August 2016 (“4QFY2016”) stood at US$98.5 million. For the full year period under review, the Group recorded revenue of US$167.6 million, as compared to revenue of US$247.2 million in the year-ago period (“FY2015”). This decline in revenue was the result of continual weakness in the offshore industry leading to markedly lower demand as well as general oversupply in the offshore support vessels (“OSV”) segment. Gross loss for the year stood at US$49.8 million as compared to gross profit of US$29.4 million in the previous corresponding period.

11 May 2016

Emas Reels in $32m Contract

Singapore-listed offshore firm EMAS Offshore Limited wins $32m of new business  has secured new awards and letter of intents for charters amounting to approximately US$32 million, including options. These new charters will see EMAS Offshore’s Anchor Handling Tug (AHT), Anchor Handling Tug and Supply (AHTS) and Platform Supply (PSV) vessels supporting National Oil companies (NOCs), International Oil companies (IOCs) and other offshore contractors on drilling operations and cargo supply runs for offshore oil field projects in their production phases. Concentrated in Malaysia, Thailand, Myanmar and Vietnam, these contracts also comprise of awards from the West Africa region.

28 Aug 2014

EOC Takes Full Ownership of OSVs

On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd ("KMPL"). Completion of the Acquisition shall take place on or around 28 August 2014. Prior to the Acquisition, the Target was jointly owned by KMPL and Ezra Holdings Limited ("Ezra"), the largest shareholder of the Company, in a 50-50 proportion. Upon completion of the Acquisition and post completion of the Proposed Business Combination (as referenced in the stock exchange release by the Company on 10 July 2014, and the announcement made on 7 August 2014 in respect of the publication of the shareholder circular dated 7 August 2014)…

04 Jan 2012

Ezra Names Global Executives

Ezra promotes key executives to anchor Group’s global strategy. Both industry veterans have assumed their new roles from 1 January 2012. Industry veteran Captain Adarash Kumar will become Chief Operating Officer (COO) at the Group level to spearhead Ezra‟s burgeoning international operations. He has been with the Group since its listing on the Singapore Exchange Securities Trading Limited in 2003, forming part of the core team that has worked to transform Ezra to a leading provider of offshore O&G support services globally that it is today. Captain Kumar, 51, has served in the marine industry for more than 25 years and has been an executive director of Ezra since 24 March 2003.