Corporate digest

Mirach Energy

MAINBOARD-LISTED Mirach Energy is taking steps to wind up the company as it is unable to procure a reasonable exit offer, the oil and gas company announced in a Singapore Exchange filing on Wednesday.

Mirach Energy was in October granted a three-month extension to submit an exit-offer proposal after certain shareholders expressed their collective intention to make an offer.

The company said it will apply for a further extension to conclude the winding-up process.

OUE Lippo Healthcare

OUE Lippo Healthcare will jointly manage a obstetrics and gynaecology hospital in Changshu, China with Hong Kong-based state-owned conglomerate China Merchants Group (CMG).

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This 50:50 joint venture in the south-east of China's Jiangsu province will house 140 beds, with a gross floor area of about 25,000 square metres. It is expected to be commissioned in 2023.

The project will be structured as a lease and operate model under a long-term lease of 19.5 years, with OUE Lippo Healthcare having the right of first refusal to renew the lease upon expiry.

Koufu

TO reduce costs and streamline operations, Koufu Group will sell its stake in Indonesian joint venture Super Tea Indonesia but will continue its licensing agreement with the company.