Corporate digest

Ryobi Kiso

RYOBI Kiso Holdings, a specialist ground engineering solutions provider, said on Wednesday that it has secured contracts worth S$55.9 million since January 2015. The group expects to deliver these new contracts during the financial year ending June 30, 2016.

Ascendas Reit

ASCENDAS Funds Management, the manager of Ascendas Real Estate Investment Trust (A-Reit), said on Wednesday that the Reit's trustee, HSBC Institutional Trust Services, has started court and arbitration proceedings against two of A-Reit's contractors - A@risco Services and Concorde Security. A@risco and Concorde claim that A-Reit owes them S$3.6 million and S$1.8 million respectively, for services purportedly rendered by them to A-Reit. These sums are in dispute and the legal proceedings are to determine the total amoun…