Corporate digest

Swiber Holdings

THE judicial management of Swiber Holdings and its subsidiary Swiber Offshore Construction was extended by the High Court to June 30, the board said on Friday.

KrisEnergy

MAINBOARD-LISTED KrisEnergy applied on Friday to extend its debt moratorium again. The hearing for the application has been scheduled for Feb 1, at 10am.

Sembcorp Industries

SEMBCORP Industries chief financial officer Graham Cockroft is quitting after two years to return to New Zealand, the mainboard-listed conglomerate said on Friday.

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Mr Cockroft, who was appointed to the role in September 2018, will step down on Feb 28. Sembcorp added that it is "working on bringing in Mr Cockroft's successor".

Ascott Residence Trust

ASCOTT Residence Trust (ART) expects to cut distribution per stapled security (DPS) by 60-70 per cent in FY2020, the managers warned on Friday.

The projected fall in DPS, from the 7.61 Singapore cents paid in FY2019, came as distributable income could drop by 40-50 per cent year on year, taking into account realised exchange gains and partial distribution of divestment gains.

The profit guidance was based on the managers' preliminary review of its financial statements for the year to Dec 31, 2020, which are set to be released on Jan 27, 2021.

SIIC Environment Holdings

MAINBOARD-LISTED SIIC Environment Holdings has changed its chief executive officer "due to re-designation of work", the board announced on Friday.

Executive director Yang Jianwei, the general manager of SIIC Management (Shanghai) Co since December 2018, replaces Xu Xiaobing, the CEO from November 2018.

Kim Heng Offshore & Marine Holdings

CATALIST-LISTED Kim Heng Offshore & Marine Holdings said on Friday that it plans to sell two sets of crane barges to Taiwanese company Hung Hua Construction for US$5.6 million, in a non-binding memorandum of understanding inked by its wholly-owned subsidiary. Hunghua also invited the group to take part in offshore wind and harbour construction projects in Taiwan.