Corporate digest
Sinocloud Group
CATALIST-listed Sinocloud has cancelled its proposed acquisition of up to 45.95 per cent of China Satellite Mobile Communications Group, saying that conditions could not be satisfied or waived by the long-stop date of Sept 30.
It is now trying to get back about HK$24.7 million (S$4.6 million) it lent to some of the stake sellers in February 2014 and another HK$19.1 million "goodwill deposit" it gave certain stake sellers in July 2014, it said in a Singapore Exchange filing on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions