Corporate digest

VCPlus

CATALIST-LISTED gold miner VCPlus on Monday announced that it is acquiring technology consultancy firm APEC Solutions for S$5 million, in a bid to further its fintech ambition.

The consideration will be paid via the issuance and allotment of 172.4 million new VCPlus shares to APEC Solutions' sole director and shareholder Cedric Yap Kun Hao at 2.9 Singapore cents apiece.

The consideration shares represent about 3.95 per cent of the existing issued and paid-up share capital of VCPlus, and about 3.8 per cent of the enlarged share capital.

The issue price represents a premium of 16 per cent to the volume weighted average of 2.5 cents per share for trades done on Monday.

Jumbo Group

SEAFOOD restaurant operator Jumbo Group on Monday said it has opened a new Tsui Wah outlet at Jewel Changi Airport.

The new 3,240-square-foot outlet has a maximum seating capacity of 123 seats for indoor dining. But this is capped at 88 seats with current social-distancing measures.

Separately, its outlet at The Heeren, which had been closed since December last year, is scheduled to reopen in November.

Lian Beng Group

BUILDING contractor Lian Beng Group has disclosed that government grants to help defray additional operating costs due to Covid-19 had boosted remuneration payable to its key executives for the FY2021 ended May.

"The slight increase in remuneration is in line with the slight increase in profitability of the group," the group said in a bourse filing on Monday.

It added that remuneration payable to the key executives included a bonus component, which factored in both additional operating costs incurred due to Covid-19 as well as government grants received to help defray such costs.

Lian Beng noted in its FY2021 results that Covid-related government grants and incentives amounted to S$18.5 million in the period, some S$11.8 million higher than the previous year.