Corporate digest

Grand Venture Technology

THE Catalist-listed manufacturing service provider on Monday said it is in discussions with a third party regarding a potential subscription of new shares in the company. It also understands that the third party is in talks to potentially acquire shares from certain existing shareholders.

Grand Venture Tech said in a bourse filing that discussions are ongoing and the company has not made any decision or entered into any definitive agreements for the possible subscription.

Hyflux

HYFLUX'S judicial managers on Tuesday said they will hold a virtual townhall meeting on Jan 14 at 6pm Singapore time, for holders of the water treatment firm's perpetual securities, preference shares and medium-term notes.

Those interested to join the meeting must register by Jan 11, 6pm at this site: https://septusasia.com/hyflux-vtm-registration. They will then receive an e-mail by Jan 13, enabling access to the meeting.

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Bibit

INDONESIA-BASED robo-adviser Bibit has raised US$30 million of funding from Sequoia Capital India, joined by its existing investors including East Ventures, EV Growth, AC Ventures and 500 Startups.

In a statement on Tuesday, Bibit chief executive Sigit Kouwagam said the firm has grown significantly since its launch, with more than a million first-time investors registering with the platform in the past year alone. He attributed the growth to increased awareness and education on investment as well as the importance of having good personal financial management. Some 90 per cent of Bibit users are millennials and first-time investors.

Mr Kouwagam said Bibit's partnership with Sequoia India will accelerate the firm's goal to help more people in Indonesia participate in the capital market and make the right investments.

Axington

AXINGTON has proposed changing its auditor to Messrs Foo Kon Tan (FKT), following the resignation of its current auditor, Nexia.

In a regulatory filing on Tuesday, the group said FKT has given consent to act as auditors as at Tuesday, subject to its appointment being approved by shareholders at the extraordinary general meeting to be convened in relation to the proposed change of auditors "in due course".

Nexia's resignation will take effect only upon the appointment of FKT, after which FKT will hold office until the conclusion of Axington's next annual general meeting.