Corporate digest

Sembcorp Industries

SEMBCORP Industries is appointing a new group chief financial officer (CFO), Eugene Cheng, who will join the company on March 8, it said in an exchange filing on Friday.

He will take over from the current CFO, Graham Cockroft, who has decided to leave the company at the end of this month to relocate to New Zealand.

Mr Cheng is currently chief corporate officer of Sats, and was a former investment banker with JP Morgan and Citigroup, focused on M&A advisory, financing and capital raising. As Sembcorp's CFO, Mr Cheng will manage the group's finance, strategy, portfolio and commercial teams and be a key member of the Sembcorp senior leadership team, the company added.

Sembcorp Industries shares rose 0.6 per cent on Friday or S$0.01 to close at S$1.68, before the announcement.

Vallianz Holdings


OFFSHORE support vessel company Vallianz Holdings on Friday said it has signed a memorandum of understanding (MOU) with SeaTech Solutions International to "develop the next generation of environmentally friendly harbour tugs".

The MOU is valid for two years, unless mutually extended in writing by both parties, both companies said in a joint statement. These all-electric tugs are designed to be powered by clean energy, with an aim of zero carbon emission.

Shares of Vallianz closed flat at S$0.051 on Friday before this announcement was made.

Thomson Medical Group

THOMSON X (TX), a wholly-owned subsidiary of Thomson Medical Group (TMG), has entered into a strategic partnership with Singapore-based healthtech startup, Plano, according to an exchange filing on Friday.

Through the partnership, TMG's patients at certain clinics will soon have access to Plano's eye-care solutions on top of Thomson's existing healthcare services. The partnership will grant TX an option to subscribe for an equity stake in Plano which can be exercised in three tranches over a six-year period, subject to certain milestones and business performance. If all three tranches are exercised, TX will hold a minority stake in Plano.

Shares of TMG fell 2 per cent or 0.1 Singapore cent to 4.8 Singapore cents on Friday, before the announcement.

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