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The largest shareholder of manufacturer Fu Yu Corp is calling for an EGM to remove two out of the four company directors, citing its deteriorating performance.
Victor Lim Wei De, who holds 29.45% of Fu Yu shares, states in his requisition letter that the company's earnings had dropped from $17.58 million in FY2021 to a loss of $10.11 million in FY2023. The share price has dropped from 33 cents in 2021 to 13 cents as of Jan 9.
Gordon and Celine Tang, through their vehicle Aelios, have increased their offer for units in Suntec REIT to $1.19 per unit.
Unitholders who have accepted their previous offer are also entitled to the revised offer price once the offer becomes or is declared unconditional in all respects.
Centurion Corporation, on Jan 6, announced that it is exploring establishing a REIT.
The REIT will comprise some of the group’s workers and student accommodation assets. The proposed REIT will be sponsored by Centurion and listed on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST), the company revealed.
Centurion will be working with DBS Bank and UBS to explore the proposed transaction.
Singapore Post has reaffirmed its ongoing strategy of divesting non-core businesses and assets, and that the transformation of its domestic postal business is going ahead as well.
The company made these comments on Dec 29 after the termination of its three top executives on Dec 22 over the mishandling of whistle-blowing reports.
All three executives have said they will contest the termination.
Medical group Tamarind Health, with the backing of investors including Temasek unit 65 Equity Partners, is offering 45.6 cents per share to privatise cancer specialist TalkMed Group, valuing the company at more than $606 million.
As part of its longer-term growth plans, the enlarged entity might then seek its own listing on the Singapore Exchange S68.
SingPost has terminated three of its top executives after they were found following an internal probe to have failed in their handling of whistle-blowing reports involving delivery performed for "one of its largest" customers.
They are group CEO Vincent Phang, group CFO Vincent Yik and Li Yu, CEO of SingPost's international business unit ops. Phang has been asked to resign from SingPost's board as well.
South Korean President Yoon Suk Yeol vowed to “never give up” after lawmakers voted to impeach him Saturday, leaving him on the verge of being ousted after he shocked the nation by briefly imposing martial law.
The National Assembly passed the impeachment bill with 204 lawmakers in the 300-member house in favour, exceeding the two-thirds majority needed.
“While I may come to a stop for now, the journey toward the future that I have walked with the people over the past two and a half years must never be halted,” Yoon said in a statement.
South Korean President Yoon Suk Yeol declared martial law on Tuesday in an emergency national address televised live as he accused the opposition of trying to paralyze the administration amid a deepening political rift.
Yoon said the decision was made to protect freedom and constitutional order, and that it will not have an impact on South Korea’s foreign policy. He added that it would also help remove North Korea supporters.
The Straits Times Index (STI) crossed 3,800 points, up some 1.3% for the day, to reach an intra-day high of 3,800.16 on Dec 3.
This was largely due to intra-day surges by constituents DBS Group Holdings D05, Thai Beverage Y92 and Yangzijiang Shipbuilding BS6, while other component stocks DFI Retail Group D01 and Sembcorp Industries U96 chipped in as well.
Oil major Exxon Mobil is considering a sale of its gas stations in Singapore, which could raise about US$1 billion ($1.35 billion), according to people familiar with the matter.
Exxon is working with financial advisers on the potential disposal, the people said, asking not to be identified because the matter is private. Other industry players and investment funds have shown preliminary interest, they added.
