Corporate digest
Sapphire Corp
SAPPHIRE Corp has clinched a 452 million yuan (S$92.1 million) contract to build part of a 20-station metro line in Beijing, the rail transport infrastructure group announced on Wednesday. Through wholly owned subsidiary Ranken Infrastructure, Sapphire will undertake civil engineering works on 834 metres of the 29.6-kilometre Beijing Metro Line 12, which runs through four districts in North Beijing.
Zhongmin Baihui Retail Group
ZHONGMIN Baihui Retail Group Ltd is acquiring the retail premises at Hui'an County in Quanzhou city of Fujian province for 122.24 million yuan (S$24.88 million). It said on Wednesday that its wholly owned unit Zhongmin Baihui (Quanzhou) Commercial Management Co Ltd (QZM) has inked five separate sale and purchase agreements with Hui'an Hongyi Property Development Co Ltd.
Yanlord Land
YANLORD Land Group's wholly owned subsidiary Yanlord Development (Tianjin) Co has acquired a 50 per cent stake in a company in Tianjin, China for 19.91 million yuan (S$4 million).
Blumont Group
BLUMONT Group has received in-principle approval from the Singapore Exchange to list and quote 23 billion conversion shares subject to compliance with listing requirements and the approval of shareholders. The shares are part of a settlement agreement for a US$23.5 million loan facility from Wintercrest Advisors. Blumont will convene an EGM of its shareholders to vote on the components of the settlement agreement.
EMS Energy
EMS Energy has filed a court application to convene a creditors' meeting within six months and to halt any new actions against the company. The marine and offshore services company has also appointed Rajah & Tann as its legal adviser, and will be proposing Alternative Advisors' Wong Joo Wan as scheme manager.
