Corporate digest

Hanwell Holdings

Hanwell Holdings plans to hold a capital reduction exercise to return to shareholders surplus capital through a cash distribution. The exercise will be done by reducing the company's issued and paid-up share capital by S$20 million from S$200.1 million to S$180.1 million. The amount will be distributed to shareholders based on a price of S$0.03614 per share. The company said on Thursday that the exercise will return cash that exceeds its immediate requirements to shareholders, thereby improving their return on equity.

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