Corporate digest
Ascott Reit, A-HTrust
THE COURT has directed that the applications for sanction of the Ascott Residence Trust (Ascott Reit) scheme and Ascendas Hospitality Trust (A-HTrust) scheme be heard on Nov 19.
This came after unitholders of the two trusts on Oct 21 gave their overwhelming support to the proposed merger of the two entities.
Ascott Reit, Singapore's first and biggest hospitality Reit with over S$5 billion in total assets, will become the largest hospitality trust in Asia-Pacific with assets of S$7.6 billion, post merger.
The last day of trading of the A-HTrust stapled securities is expected to be Dec 16 while the delisting is expected on Jan 3, 2020.
Subject to the relevant approvals, the new Ascott Reit-business trust stapled units under the combined entity are expected to begin trading on Jan 2, 2020.
Hyflux
DEBT-LADEN Hyflux's group executive vice-president and group chief financial officer is going on sabbatical leave.
Lim Suat Wah, 53, will cease to be Hyflux's group EVP and group CFO from Nov 8, as she is taking "sabbatical leave to handle personal family commitments", Hyflux said in a regulatory filing on Wednesday.
She was appointed to the position in May 2013.
As Hyflux is in the thick of restructuring, it has appointed senior vice-president (finance) Agnes Tan to assume full responsibility for finance, accounting, tax and treasury matters.
