Corporate digest

Select Group

CATALIST-LISTED food caterer Select Group is being taken private by a consortium led by Temasek Holdings-linked Dymon Asia Private Equity.

The consortium also includes Select's co-founders Tan Chor Khoon and Tan Choh Peng, who are brothers.

The offer price is S$0.525 a share, or 10.5 times earnings. It is at a 23.5 per cent premium over the last transacted price of S$0.425 on March 18.

Huan Hsin

THE auditors of watch-list Chinese electronics contract manufacturer Huan Hsin Holdings, Deloitte & Touche, have highlighted that the preparation of Huan Hsin's financial statements on a going concern basis is dependent on the successful completion of a shares subscription exercise, announced in end-February, to raise up to US$250 million in two tranches.

Hotel Properties

HOTEL Properties Limited (HPL), via its associated company VN NH Holdings, has entered into a sale and purchase agreement to acquire American Indochina Resorts Limited (AIRL) for US$65 million. Collectively, the AIRL group owns a five-star beachfront resort in Vietnam.

Pan Ocean

SOUTH Korean shipping firm Pan Ocean secured on Tuesday a 20-year iron ore shipping contract with Brazilian mining firm, Vale SA.

DBS

DBS announced on Wednesday that it has appointed Joyce Tee as its group head of SME Banking, making her the bank's first female head of its SME banking franchise.