Corporate digest
Vividthree Holdings
VIVIDTHREE is no longer proceeding with a proposed ordinary share placement that was to have given it S$1.9 million in net proceeds. The Catalist-listed group said the working capital available is sufficient to meet its present and projected requirements.
The proposed placement - of up to 15.9 million new ordinary shares at a price of at least 12.6 Singapore cents apiece - was meant to strengthen Vividthree's financial and working capital position.
Kimly Limited
THE group, through wholly-owned subsidiary Jin Wei Food Holdings, has acquired a long-term leasehold coffee shop in Ang Mo Kio for S$12.9 million in cash.
The purchase of a long-term leasehold coffee shop in Clementi for S$7.4 million will take place at a later date once the requisite approvals and/or permissions have been obtained from the Housing and Development Board, due to the recent Covid-19 situation.
Mermaid Maritime
MERMAID'S subsidiary has set up a new business unit focused on offshore platform installation and decommissioning, to target demand from major oil operators in Thailand.
The group said that the Gulf of Thailand has over 400 offshore platforms, and 100 platforms are estimated to be approved by the Thai government for decommissioning over the next 10 years.
Perennial Real Estate Holdings
A CONSORTIUM led by Perennial Real Estate has completed the sale of a half-stake in AXA Tower to Alibaba Group's Singapore subsidiary. Singapore Press Holdings (SPH), HPRY Holdings and Piermont Holdings are among the investors in the consortium.
Perennial said in May that its share of the divestment gain is approximately S$45 million. SPH separately said it will receive about S$33.2 million for selling its 5.29 per cent interest in the property, held through its wholly-owned subsidiary PE One.
SBI Offshore
MIRZAN Mahathir has ceased to be SBI Offshore's executive non-independent chairman after shareholders did not re-elect him at the annual general meeting (AGM) held on Monday.
Mr Mirzan, who is the eldest son of former Malaysian prime minister Mahathir Mohamad, has also retired from his role as a director at the Catalist-listed firm, according to a regulatory update on the same day.
