Corporate digest

Singapore Myanmar Investco

MAINBOARD-listed Singapore Myanmar Investco (SMI) said that its subsidiary, Myanmar Infrastructure Group (MIG), has entered into a US$10.8 million share sale agreement with Tiger Infrastructure for the proposed disposal of its 99.9 per cent-owned indirect subsidiary, TPR Myanmar. TPR is a subsidiary of MIG, and the agreement includes the disposal of 9,999 issued ordinary shares in TPR, as well as all tower stock and power equipment stock held by TPR in its warehouse and its port. The long stop date for the deal stands at Dec 31, 2018.

Alliance Mineral Assets

ALLIANCE Mineral Asset's former chief executive and a former executive director are no longer substantial shareholders of the Australian mining company after selling nearly all their shares for about S$12.58 million in a married deal.

The firm on Monday announced that Living Waters Mining Australia, an investment vehicle controlled by former CEO Tjandra Adi Pramoko and his spouse, former executive director Suen Sze Man, had on June 1 sold 37 million shares at an average price of 34 Singapore cents apiece. The disposal pared the couple's deemed stake in the company to 0.02 per cent from 5.87 per cent.

Earlier this year, Alliance Mineral had given notices of termination to Mr Pramoko and Ms Suen, who ceased to hold their positions at the company with effect from March 1.

Tat Hong

TAT HONG shares will be suspended from trading from 9am on Tuesday. The offer by chief executive Roland Ng and the private equity arm of Standard Chartered (SCPE) closed on Monday, after the number of shares held in public hands fell below 10 per cent on May 21.