Corporate digest

Singapore Reinsurance

SINGAPORE Reinsurance has again extended the closing date for Fairfax Asia's cash offer from June 2 to June 17, 5.30pm, with all other terms of the offer unchanged. The cash offer is for Singapore Reinsurance's 71.82 per cent stakes that Fairfax Asia and its concert parties do not own. The offer is conditional on them garnering more than 50 per cent stakes. As at 6pm on June 1, the number of shares owned, controlled or agreed to be acquired by Fairfax Asia and its concert parties, including public acceptances, stood at 92.09 per cent. Out of this figure, public acceptances was 63.10 per cent, said a bourse filing by Fairfax Asia on Wednesday.

Based on the information available, acceptances of an additional 9.17 million shares - about 1.54 per cent of the total number of issued shares - will allow Fairfax Asia to exercise its right of compulsory acquisition.

Sabana Reit

Sabana Reit on Wednesday appointed Singapore-based hedge-fund founder Chan Wai Kheong as an independent non-executive director. Mr Chan, chief executive and founder of Charlie Chan Capital Partners, has also been appointed a member of Sabana Reit's audit and risk committee as well as a member of the nominating and remuneration committee, said the company in a bourse filing.