Corporate digest

CEFC International

FUEL trader CEFC International said it has received an in-principle approval from the Singapore Exchange (SGX) for its placement of 705.5 million shares to raise S$246.9 million. "The approval-in-principle of the SGX is not to be taken as an indication of the merits of the subscription, the subscription shares, the company and its subsidiaries," CEFC said.

Sapphire Corp

SHAREHOLDERS of Sapphire Corp approved the acquisition of China rail engineering specialist Ranken Infrastructure Ltd for 360.4 million yuan (S$75.9 million). Ranken has an order book of 2.1 billion yuan at end-2014.