Corporate digest

Lendlease Global Commercial Reit (Lendlease Global Reit)

Its manager on Tuesday announced that its chairman, Anthony Lombardo, has stepped down to serve as Lendlease group chief executive officer (CEO) and managing director on June 1. Mr Lombardo, who will remain on the board as a non-executive and non-independent director, will be replaced with immediate effect by Ng Hsueh Ling.

She has been Singapore managing director and Asia chief investment officer at Lendlease since August 2017, and is also the key executive officer of Lendlease Retail.

Keppel Land

The property arm of Keppel Corp has secured its maiden five-year S$150 million sustainability-linked loan from DBS. The facility references the Singapore Overnight Rate Average (Sora), the first such loan for the group, said Keppel and DBS in a joint statement on Tuesday.

The facility's interest rate comprises a compounded daily Sora rate calculated in arrears, and an applicable margin. The loan also incorporates interest rate reductions linked to pre-determined environmental, social and governance targets, allowing Keppel to enjoy savings in borrowing costs as it achieves these targets.

Wee Hur Holdings

The mainboard-listed firm, through its wholly-owned unit Wee Hur Construction, has secured a new project worth S$176.7 million from the Housing Development Board.

In a regulatory filing on Tuesday, the group said the project covers building and contingency works in Bidadari. The construction period of the project is 44 months, starting this month.

The project is not expected to have a material impact on the consolidated net tangible assets per share and consolidated earnings per share of the group for the financial year ending Dec 31, 2021.