Corporate digest

Straits Trading

THE Straits Trading Company will, via its indirect subsidiary SRE Japan 11 Pte Ltd, be investing in a Japanese real estate fund to be managed by Savills IM Japan Residential Fund GP Pte Ltd. The fund, Savills IM Japan Residential Fund, is a limited partnership established in Singapore that will acquire residential properties located in the Greater Tokyo area and other key markets in Japan. Straits Trading said this investment is in line with its previously stated strategy.

Olam International

OLAM International chief executive Sunny Verghese will join its corporate responsibility and sustainability committee, one of its board committees, in place of chief operating officer Shekhar Anantharaman. At the same time, Mr Anantharaman will replace Mr Verghese in the board risk committee. Olam has also appointed Yap Chee Keong as a member of the capital and investment committee. The appointments take effect from Jan 4.

Clearbridge Health

CLEARBRIDGE Health will be purchasing a 65 per cent stake in Philippine medical centre operator Marzan Health Care Inc for 69.6 million Philippine pesos (S$1.9 million) in cash, following through on a transaction announced during its initial public offering last month. The company said the deal is in line with its growth plans to expand its network of medical clinics and centres in the region.

Citic Envirotech

CITIC Envirotech (CEL) will acquire an additional 15 per cent stake in its subsidiary United Envirotech Water (Changyi) Co from an existing minority shareholder for 32.5 million yuan (S$6.7 million). CEL will have full ownership of Changyi Co post-acquisition.

Changyi Co runs five industrial wastewater treatment plants in Changyi City, Shandong province, with a total design capacity of 200,000 m3/day.

Nordic Group

PRECISION engineering and systems integration solutions provider Nordic Group has clinched several contracts worth approximately S$20.6 million in total.

The contracts were secured with new and repeat customers including multinational firms and companies in the marine, oil and gas, infrastructure and petrochemical industries.