Starhill Global Reit

THE trustee of Starhill Global Reit has entered into a facility agreement with RHB Bank for a three-year unsecured and committed revolving-credit facility of S$50 million.

Commencing on Jan 1, 2022, the facility will be available for working capital requirements and/or general corporate funding purposes of the real estate investment trust.

It will replace the existing S$50 million committed revolving credit facility line, which expires in April 2022 and was also granted by RHB.

Creative Technology

MAINBOARD-LISTED Creative Technology, which produces earphones and wireless speakers, on Tuesday (Oct 12) gave notice of 3 consecutive years of losses.

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Its latest six-month average daily market capitalisation is about S$179.3 million.

The listing rules state that if a company's average daily market cap was less than S$40 million over the last 6 months and it recorded pre-tax losses for the 3 most recently completed consecutive financial years, the stock will be put on the watch list.

On Aug 26, Creative Technology had reported a US$7.6 million net loss for the fiscal year ended Jun 30, narrowing from the net loss of US$17.6 million in the previous year.

Zhongxin Fruit and Juice

QUAN Yuhong, chairman and executive director of Zhongxin Fruit and Juice, died on Oct 8, the Catalist-listed firm announced.

The 49-year-old had been appointed to the role in August last year. She led the board and was responsible for the management of the group.

In a bourse filing, the board expressed its condolences to her family, and said it was grateful for her invaluable contributions and dedicated service to the company.

GS Holdings

GS Holdings has proposed to appoint Moore Stephens as the new auditor of the company and its Singapore-incorporated subsidiaries, replacing outgoing auditor Baker Tilly TFW.

In July, Baker Tilly said it did not intend to seek re-appointment at the annual general meeting in the same month. In light of the vacancy, GS Holdings' audit and risk committee approached a few firms, including Moore Stephens for proposals.

The Catalist-listed company said in a bourse filing on Tuesday (Oct 12) that Moore Stephens has given its written consent to be appointed. The appointment is subject to shareholders' approval at an extraordinary general meeting.

GS Holdings confirmed that there were no disagreements with Baker Tilly on accounting treatments within the last 12 months.

Aspen (Group) Holdings

THE long-stop date of a subscription agreement for a proposed joint venture between logistics real estate specialist Logos and Global Vision Logistics (GVL), Aspen (Group)’s 30 per cent associated company, has been further extended by 60 days to Dec 8, 2021.

This is to accommodate the satisfaction of the remaining conditions precedent to the subscription agreement, signed by GVL and Logos in January, Aspen said.

It will also enable GVL to seek clarification from Malaysia’s Ministry of Finance on its position on the government’s plan to increase the bumiputera stake in freight forwarding and logistics companies to 51 per cent.

The proposed joint venture will entail the development of an integrated logistics and warehousing facility in the state of Selangor, Malaysia.

Under the subscription agreement, Logos will take a 60 per cent stake in GVL for about RM296.7 million (S$96.6 million).

The long-stop date was previously extended to Oct 8, 2021 amid delays due to Malaysia’s movement control orders, as announced by Aspen in July.