Corporate digest

Wing Tai Holdings

WING Tai Holdings' fully-owned subsidiary Wing Tai (China) Investment has sold its 40 per cent interest in Optima Investment & Development to Singbridge Guangzhou for a cash consideration of S$89.3 million. Following the disposal of shares, Optima has ceased to be a joint venture company of Wing Tai.

ABR Holdings

ABR Holdings, which runs restaurant chain Swensen's as one of its brands, on Friday said that it has decided to terminate the contract for the purchase of the property at 2 Banool Avenue, Yarraville in Victoria, Australia.

This followed its review of the due diligence results of the property, it said in a filing to the Singapore Exchange. Accordingly, the deposit of A$1.9 million (S$1.96 million) has been refunded to the group.

Vard Holdings

SHIPBUILDER Vard Holdings has secured contracts to design and build two luxury expedition cruise vessels for German cruise company Hapag-Lloyd Cruises.

The company had announced a letter of intent relating to this on May 13, without revealing the name of the cruise company then. The contracts' effectiveness is still contingent on customary financing conditions, said Vard on Friday evening. It did not disclose the value of the contract.