Corporate digest

Advanced Holdings

SHAREHOLDERS of Advanced Holdings approved the proposed acquisition of a 12.25 per cent minority stake in palm oil cultivator Agricore Global for a consideration of S$15 million during an extraordinary general meeting on Tuesday.

SIIC Environment

SIIC Environment, through its 92.15 per cent-owned subsidiary Shanghai Fudan Water Engineering Technology Co, has signed a supplementary agreement with the Shanghai Fengxian Water Authority in China for the Fengxian West Wastewater Treatment Plant project.

Phase I of the project will involve upgrading treated effluent quality from Grade 2 to Grade 1A for a wastewater treatment facility with a capacity of 100,000 tonnes per day.

Phase II of the project will involve upgrading treated effluent quality from Grade 1B to Grade 1A for a wastewater treatment facility with design capacity of 50,000 tonnes per day. And Phase III will involve building up a wastewater treatment facility with a design capacity of 50,000 tonnes per day and a treated effluent quality of Grade 1A.

Each phase is expected to contribute to the group's performance positively going forward, the company said.

Thomson Medical Group

THOMSON Medical Group entered into a Memorandum of Understanding with Brigham Health International and Dana-Farber Cancer Institute last Thursday to explore a potential collaboration. This possible collaboration will support the growth and advancement of Thomson Medical's hospital projects in the region and promote the advancement of healthcare delivery, education and research with a focus on women's health and oncology, it said.

Transcorp Holdings

TRANSCORP Holdings, which last week issued a notice of demand to recover S$2.6 million in advance deposits from a supplier, has provided an update.

On Monday, Transcorp subsidiary Regal Motors received a letter from the supplier stating that the supplier is negotiating with its own suppliers to obtain the refunds, and will propose a schedule of repayment within two weeks, or by March 25.

Regal Motors has acceded to the supplier's request and warned the supplier that any further delays beyond March 25 will not be accepted.

The Transcorp board will assess the proposed repayment schedule to ensure that it is in the best interest of the group.