Corporate digest

Published Sat, May 8, 2021 · 05:50 AM

EC World Reit

EC World Reit has renewed a second lease with China Tobacco Zhejiang Industrial at its Hengde Logistics property in Hangzhou, the manager said on Friday.

Both leases will expire in end-2023. The effective blended rental rate of the two renewal leases is 2.2 per cent lower than the effective blended rate of the earlier leases, and the latest renewal is expected to reduce EC World Reit's revenue by 0.8 per cent on an annualised basis.


Tuan Sing Holdings

REAL estate player Tuan Sing Holdings will get a new group chief financial officer on May 8, in the form of Tan Choong Kiak, 53, who is now executive director in the group chief executive's office. He takes over from Leong Kok Ho, 57, who has held the job since August 2018, but is leaving full-time employment to pursue his personal interests, a bourse filing on Friday said.


Reclaims Global

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THE independent auditor of Reclaims Global, RSM Chio Lim, has rendered an unmodified audit opinion with an emphasis of matter on the Catalist-listed waste recycling firm's FY21 audited financial statements. Its opinion remains unqualified.

The financial statements had included a note that executive chairman and director Chan Chew Leh had attended an interview with the Corrupt Practices Investigation Bureau regarding an investigation on him for offences under Section 6(b) of the Prevention of Corruption Act (Chapter 241) of Singapore, that were ongoing when the financial statements were released.

The subject matter of the investigation is still confidential. Mr Chan has informed that the investigation is on him in his personal capacity. The board also emphasised that the investigation does not involve the company, and so does not affect its business and operations.


Goodland Group

PROPERTY developer Goodland Group on Friday issued a profit guidance that it expects to report a net loss for its first half ended March 31, 2021, following a preliminary assessment of its unaudited financial statements. The group is in the process of finalising its financial results for the period and will disclose further details by May 15, 2021.

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