Corporate digest

Technics Oil & Gas

TECHNICS Oil & Gas has failed in its bid to restrain its landlord Soilbuild Business Space Reit to call on a S$11.85 million bank guarantee or security deposit which is equivalent to 18 months' rent in respect of the second year lease of the premises at 70 Loyang Way.

Soilbuild Reit has called on the beleaguered firm's bank guarantee which has since been paid by UOB to the Reit, said Technics in an announcement to the Singapore Exchange.