Corporate digest

Food Empire Holdings

INDUS Coffee, Food Empire Holdings' wholly-owned subsidiary, has secured about US$7.2 million to fund the expansion of its manufacturing facility in India.

It comprises additional banking facilities of US$5 million granted by DBS, and a US$2.2 million capital injection from EpiQ Food Services, another subsidiary of Food Empire Holdings.

KrisEnergy

THE company's Vietnam offshore farm-out deal has been delayed for a third time, this time with the long stop date extended from Dec 31, 2020 to March 31, 2021.

Under the deal, KrisEnergy's subsidiary was to have transferred its entire working interest in an offshore production-sharing contract to an unnamed "major international oil and gas company" for a "nominal cash consideration".

Keong Hong Holdings

THE mainboard-listed company has a new substantial shareholder in LJHB Holdings (S). LJHB, which primarily invests in real estate and hospitality assets, on Dec 15 acquired 49.4 million shares, representing a 21 per cent stake in Keong Hong, from Ronald Leo, Keong Hong's chairman and CEO.

Mr Leo remains the single largest shareholder of Keong Hong with a 30.85 per cent interest in the company.

Mirach Energy

MIRACH Energy is taking steps to wind up the company, as uncertainty has risen over whether an exit offer will proceed.

Certain shareholders had previously expressed their intention to collectively make an exit offer to all the other shareholders of the company, after Mirach Energy, failing to exit the Singapore Exchange's watch-list, was notified by the bourse in September to delist.

BH Global Corporation

A DORMANT subsidiary of light equipment maker BH Global Corporation is being wound up, and the liquidation is expected to impact the group's earnings for the financial year ending Dec 31.

Still, mainboard-listed BH Global said it expects to remain profitable for the financial year.

The loss on liquidation, of about S$4.5 million, does not affect the operations and cashflow of the group, it added.

Jumbo Group

JUMBO has completed its acquisition of a 75 per cent interest in popular dumpling noodle stall Kok Kee Wanton Noodle for S$2.1 million in cash and shares.

The Kok Kee deal is the first inorganic expansion for the group since it listed in 2015.