KEPPEL Land, the property arm of Keppel Corporation, has taken a minority stake in co-living platform Cove, as the lead investor in the startup's US$4.6 million Series A funding round.
The size of the stake was not disclosed. Keppel Land CEO Tan Swee Yiow said that co-living solutions can be "incorporated in our development projects, potentially augmenting their value, and be developed into scalable and sustainable recurring income streams". He also noted that Cove has a complementary expansion strategy into markets in South-east Asia where Keppel Land is already present.
THE judicial managers of Hyflux and its unit Hydrochem are in talks with 14 new potential investors, and aim to identify a suitable investor by the end of January next year.
However, the judicial managers from Borrelli Walsh said on Tuesday that they are unable to disclose the identities of these investors, as many of the investors had only recently contacted them.
The judicial managers added that they had contacted five investors who had previously expressed an interest in Hyflux and Hydrochem, and continue to work with some of those investors.
New Silkroutes Group
THE group has started a strategic review of its physical oil trading division, IEG, which has been hit by a "significant reduction" in trading volumes and lower oil prices. The review will include exploring options to scale down, divest, enter into arrangements with creditors, or wind up the oil and trading business of IEG, the mainboard-listed group said on Tuesday.
CONNIE Oi, the executive chair and CEO of the Catalist-listed company, has resigned after five years on the job due to "personal reasons". Her last day will be Dec 31.
Nippecraft said it has identified a candidate to take over the role of CEO and will make an announcement in due course.