Corporate digest

Singapore Exchange, OneConnect

SERVICE platform provider OneConnect on Wednesday announced that it will be building an environmental, social and governance (ESG) platform in collaboration with Singapore Exchange (SGX).

The platform will facilitate and simplify the ESG disclosure processes of companies listed on SGX.

It also aims to help companies overcome challenges with ESG information, including lack of comparability, changing investors' demand, as well as the evolving business landscape and regulations.

SIA Engineering Company

SIA Engineering Company (SIAEC) is setting up an Engine Services Division (ESD) to grow its engine services business by consolidating and developing all the engine-related services performed by the company.

The division will require more than 100 staff when it commences operations by January 2022.

It will focus on increasing value to SIAEC's partners and airline customers, enhancing its integration in the engine maintenance, repair and overhaul value chain and strengthening its engine services eco-system.

Engine-related value-added services that the ESD will develop and provide include engine maintenance, parts repair, storage and preservation, material management, on-wing services and engine testing.

It will also set up a facility for engine quick-turn maintenance, in which engine time off-wing will be minimised to optimise engine availability and reliability on-wing.

The facility will support maintenance work on the CFM LEAP engines, building on a maintenance services agreement with Safran Aircraft Engines announced in December 2019.

OUE Lippo Healthcare

OUE Lippo Healthcare (OUELH) has been allotted about 163.3 million units of the rights issue of First Real Estate Investment Trust (First Reit), OUELH said in a bourse filing on Wednesday evening.

Following the completion of the rights issue, OUELH indirectly owns approximately 15.4 per cent of the total number of First Reit units in issue, or about 246.9 million units.

First Reit Management, the manager of First Reit, is an associated company of OUELH.

OUELH submitted its acceptance for about 81.9 million rights units and applied for 81.3 million excess rights units through its wholly-owned subsidiary OUE Healthcare Investments, for an aggregate consideration of about S$32.7 million.

It received the full allotments at the close of the rights issue, amounting to about 20.6 per cent of the total number of rights units issued.