Corporate digest

Pacific Radiance

OFFSHORE marine services firm Pacific Radiance and its two units have applied to Singapore's High Court to extend a debt moratorium expiring on Oct 17.

The companies have also applied to convene meetings with their respective creditors regarding schemes of arrangement they have made with the creditors.

The applications to extend the debt moratorium and to convene the meetings will be heard together on Oct 7 at 3pm. The last moratorium extension was from Sept 5 to Oct 17.

Raffles United

WATCH-LISTED Raffles United's chief financial officer Ho Hui Min, 43, has relinquished her role to take up the position of chief executive officer (CEO). Meanwhile, Teh Geok Koon has stepped down as chief operating officer of Raffles United and as CEO of its wholly-owned principal subsidiary, Kian Ho Pte Ltd.

Wilton Resources Corp

WILTON Resources Holding (WRH) will be undertaking a mandatory tender offer to purchase the shares of PT Renuka Coalindo Tbk (Renuka) it does not already own at 250 Indonesian rupiah (2.4 Singapore cents) each, should Renuka's minority shareholders wish to sell their stake in the company, Wilton Resources Corporation announced on Wednesday.

SLB Development

SLB Development has entered into a share sale and purchase agreement with Jun Yuan Holdings to divest the entire share capital of Wellprime, its wholly-owned subsidiary which owns a property at 50 Lorong 21 Geylang Singapore, for S$13.5 million. The proceeds of the proposed disposal of the freehold industrial property would be used for the discharge of the bank loan related to the property, acquisition of potential development property and for general working capital purposes.