Corporate digest

Singapore O&G

CATALIST-LISTED Singapore O&G has named Eric Choo, who previously served as the company's chief financial officer (CFO), as its new chief executive from Feb 3, according to a Friday bourse filing. He will take over from Ivan Lau, who will step down as chief executive from Jan 31 to pursue his "interest in the provision of clinical services", Singapore O&G had announced in an earlier filing in November.

Eagle Hospitality Trust

FRANK YUAN, the single-largest shareholder of Eagle Hospitality Trust (EHT), has sold 20 million stapled securities of the mainboard-listed counter at US$0.53 apiece via a married deal. This translates to a total consideration of US$10.6 million. In a Friday bourse filing, EHT disclosed that Mr Yuan had pared his stake from 13 per cent to 10.69 per cent on Jan 13. The US$0.53 sale price represents a slight discount to US$0.535, Monday's closing price. Mr Yuan's stake is held via the entity Claydon Hill Investments. He had earlier sold five million stapled securities in EHT at US$0.55 apiece on Oct 25, also via a married deal. He had initially taken a 16.2 per cent stake in EHT by way of a placement during the IPO in May, more than any of EHT's cornerstone investors or its founders.

Teckwah Industrial

TECKWAH Logistics, a wholly-owned unit of Teckwah Industrial, will consolidate the operations of its subsidiary JNE Logistics Singapore with its own, in a bid to streamline the mainboard-listed company's logistics segment. Teckwah Logistics will take over the entire operations and assets of JNE Logistics, including existing contracts and other business obligations, Teckwah said in a Friday bourse filing.

Union Gas Holdings

CATALIST-LISTED Union Gas Holdings has made an offer to purchase a property at 89 Defu Lane for S$10.5 million, to serve as its headquarters, the company announced in a bourse filing on Friday. Union Gas paid S$105,000 to the vendor, Long Bow Manufacturing, on Friday for an option to purchase the property. Long Bow has five working days to accept the offer. The sale is also conditional on receiving approval, as well as a 30-year lease extension from JTC Corporation.