Corporate digest

Silverlake Axis

THE fintech company announced on Friday that its indirect wholly-owned subsidiary, Silverlake Fermion, has inked a teaming agreement with Malaysia-based insurance technology specialist DynaFront Holdings. Under the agreement, the companies will collaborate and explore opportunities to tap technology and ecosystems to co-create insurtech innovations "to achieve digital insurance leadership", said Silverlake Axis in a bourse filing.

Sasseur Reit

THE head of finance of Sasseur real estate investment trust's (Reit) manager, Leong Mei Kuan, has tendered her resignation to pursue her personal interests. Her last day of service will be Sept 26, said the Reit manager, Sasseur Asset Management, on Friday. The current senior finance manager, Emily Soh, will oversee the finance functions of the Reit manager while the hunt is on for a chief financial officer.

Sunrise Shares Holdings

THE electrical products trader and distributor said on Friday that its wholly-owned subsidiary, Sunrise Industrial, has changed its principal business activities from property fund management and collecting rental income from real estate investment trusts (Reits) to offering consultancy and management services in property and hospitality. It will also offer consultation services for investment and information, as well as real estate. Other key business activities include fund management services, land development, project management, property leasing and building construction, including design and renovation.

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Sakae Holdings

THE impairment of goodwill of S$720,000 in FY2021 comes from a previous acquisition relating to the business assets of the former Genki Sushi outlets in Malaysia, said Sakae Holdings in response to the Singapore Exchange's query on the impairment. Given the negative impact of the Covid-19 pandemic in Malaysia, the recoverable amount from the cash generating units is estimated to be lower. The group had therefore decided to impair the goodwill accordingly in FY2021.