Corporate digest

Published Wed, Apr 21, 2021 · 05:50 AM

LHN

REAL estate management services provider LHN Limited expects a higher net profit before tax of "no less than approximately S$17 million" for H1 2021, an estimated 4.5 times increase from H1 2020, the company said on Tuesday in a preliminary update on the group's unaudited financial results. The growth comes on the back of gains from subleases, lower fair-value loss on investment properties, short-term contracts for the management of dormitories expected to end in the second half of the financial year, and a reduction in rental costs due to rental rebates received for the carpark division.


Neo Group

THE offer for Catalist-listed Neo Group has turned unconditional, the food caterer said after receiving valid acceptances of the offer amounting to about 91.2 per cent of the total number of issued shares. As the remaining shares held publicly is about 8.8 per cent, it falls below the Catalist board's free float requirement of 10 per cent. Thus, the Singapore Exchange will suspend the trading of the shares when the offer closes. The closing date for the offer has been extended to May 25 from the previous date of May 11.


Singapore Paincare Holdings

CATALIST-LISTED paincare medical services group Singapore Paincare Holdings has entered into a conditional sale and purchase agreement to acquire Medihealth Bishan Clinic & Surgery from Healthgivers for a total consideration of S$585,000.

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The acquisition will be done through Singpaore Paincare's newly incorporated, 60 per cent-owned subsidiary, Medihealth Clinic. Xavier Chia, a general practitioner with OneCare Clinic Canberra, holds the remaining 40 per cent.


KrisEnergy

THE continued "disappointing" results of KrisEnergy's Apsara oil field in Cambodian oil concession Block A means its restructuring plan is no longer viable, the troubled oil and gas group said in a bourse filing on Tuesday.

There remains "material uncertainty" over the company's ability to continue as a going concern.

KrisEnergy also said it has not been able to propose an alternative restructuring plan to DBS, the provider of a US$200 million revolving credit facility, and Keppel Corporation, which holds the key economic risk in the revolving credit facility. Therefore, the revolving credit facility will not be extended as stipulated conditions have not been fulfilled.

Keppel Corporation said in a separate filing that it is evaluating the potential financial impact of the situation and determining its best course of action to preserve value for shareholders.


Far East Hospitality

FAR East Hospitality has inked a new partnership in Indonesia as part of a larger plan to increase its footprint within the region.

The group on Tuesday announced that it has teamed up with Artotel Group, an Indonesian boutique hospitality and lifestyle group, in a strategic alliance agreement. Under the terms of the partnership, both sides will collaborate across operations, branding, and training, as well as support business growth across markets.

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