Corporate digest

Cityneon Holdings

CITYNEON has named Mark Kemper its new group chief corporate and financial officer, following the resignation of chief financial officer Aw Hui Mien.

Mr Kemper, 47, will be responsible for corporate strategy and finance. He was the managing partner and head of digital assurance and innovation at KPMG Netherlands from 2017 to 2018. Ms Aw had resigned to pursue other career opportunities.

Separately, Cityneon said that it has partnered with Blizzard Entertainment for the Singapore stop of the Hearthstone Championship Tour that will be held at the Suntec City Exhibition and Convention Centre from Friday to Sunday. Hearthstone is Blizzard's free-to-play digital card game. The event is supported by other companies including Singtel and Razer.

Serial System

THE electronic components distributor has proposed to distribute a special dividend of one Singapore cent per share, following the disposal of its Australian laundry business. Serial System said on Wednesday that it had received about A$40.2 million (S$39.5 million) for the sale of its entire 27.34 per cent stake in SPL Holdings (Australia).

Separately on Tuesday, Serial System said that its unit Serial Microelectronics would have its distribution agreement with major supplier Texas Instruments (TI) terminated on Dec 31.

Serial System said it is in ongoing discussions with TI - an American semiconductor firm - to work out the arrangements for the cessation of the business relationship, and that it is concurrently considering a potential sale of its TI distribution business.

Heeton, KSH, Lian Beng

HEETON Holdings, KSH Holdings and Lian Beng Group have joined hands to acquire Hotel Indigo Glasgow in Scotland for an undisclosed sum. The consortium is led by Heeton, which has an effective interest of 60 per cent while KSH and Lian Beng have effective interests of 20 per cent each.