Corporate digest

Published Fri, Feb 19, 2021 · 05:50 AM

Roxy-Pacific Holdings

MEQUITY Hills, a new associate of property developer Roxy-Pacific Holdings, has entered an agreement to acquire a 999-year leasehold residential site at 10A and 10B Institution Hill for S$33.6 million. The site has an estimated total land area of 8,761 sq ft and has a plot ratio of 2.8 under the 2019 Master Plan for residential development.

Mequity Hills intends to amalgamate the site with another 999-year leasehold site at 11 Institution Hill, after it exercises the Option To Purchase issued on Feb 1, 2021 to acquire it. The combined site will have an estimated total land area of 14,300 sq ft, with a total gross floor area of 40,040 sq ft for residential development.


OCBC

KIM, a wholly-owned unit of OCBC, has acquired the remaining 51 per cent stake it did not already own in Malaysia-incorporated Horizon Asset Management for RM2.55 million (S$837,650) in cash. This makes Horizon a fully-owned unit of OCBC.

The was consideration determined based on the mutually agreed price of RM1 for each issue share of Horizon held by the existing shareholder, Sharosu Assets.

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The audited net tangible asset value represented by the acquisition was about RM420,000 as at end-2019.


Katrina Group

DINING group Katrina Group, which includes brands Bali Thai and So Pho, anticipates a loss for FY2020 ended December, the Catalist-listed company announced in a Thursday bourse filing after the market close.

The expected loss is due to lower revenue amid the Covid-19 pandemic, as well as impairment losses on some non-current assets, Katrina said. It will announce its full-year results on or before March 1.

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