Corporate digest
Keppel Corporation
KEPPEL Seghers Belgium, a wholly-owned subsidiary of Keppel Corp's infrastructure arm, has secured contracts worth more than 12 million euros (S$18 million) to supply technology and services to waste-to-energy plants in India. The Belgium-based subsidiary will provide the core equipment, design and technical services for the plants' air-cooled grate and vertical boiler.
The contracts were signed with Abellon Clean Energy, which owns the plants and is based out of Gujarat in India.
Design Studio
DESIGN Studio Group, together with five of its Singapore-incorporated subsidiaries, has made an application to the
High Court in Singapore for a six-month moratorium as it seeks to undergo a court-supervised process to reorganise its liabilities.
The watch-listed group recorded an unaudited loss of S$35.1 million for the nine-month period ended Sept 30, 2019, and an audited loss of S$26.4 million for the financial year ended Dec 31, 2018. As at Sept 30, 2019, the group's net current assets stood at S$7.7 million. Its net assets amounted to S$29.6 million.
The group also said three of its Malaysia-incorporated subsidiaries have applied to High Courts in Malaysia to be placed under judicial management.
Design Studio called for a suspension in the trading of its shares at 8.30am on Monday.
The counter last traded at 8.3 Singapore cents.
MMP Resources
CONSTRUCTION firm MMP Resources Limited has applied to the Singapore Exchange for a further extension of time of up to March 1, 2021, to satisfy the requirements to exit the financial watch-list.
