Corporate digest
Far East Group
REFRIGERATION and air-conditioning seller Far East Group plans to buy Tech Air-Con & Security Engineering for S$7 million in cash and 2.98 million new ordinary shares in the capital of the company. Those shares represent 2.75 per cent of the existing issued shares as at Monday and about 2.68 per cent of the enlarged shares.
8Telecom International
INFOCOMM company 8Telecom International Holdings has replaced two executive directors on its board with two former staff of Eastern Airlines, according to announcements on Tuesday.
Wan Guang, 33, and Liu Lu, 40, resigned as executive directors on March 4 after just a few months. Shan Chuanlong, 35, and Long Hong, 36, were appointed as executive directors.
The company separately announced changes in the interests of major shareholders that had not previously been disclosed. Private company Tian Di Internet acquired 12 million shares, or a 10.67 per cent stake in the company, for S$90,000. Major shareholder Vok Investment Holdings disposed of 12 million shares on the same day. Vok, which previously held a 21.67 per cent stake in 8Telecom, now just has an 11 per cent shareholding.
TRENDING NOW
The only common thing in S-E Asia is that we all eat rice: Cisco’s Asean president
Philippine power giant First Gen rebuffs foreign offers, plans up to US$2.6 billion in expansion
Singapore to use ‘every legal and regulatory lever’ against companies linked to haze: Shanmugam
Once staunchly pro-China, Malaysian Chinese businesses are now distancing themselves from Beijing
