Corporate digest

Sembcorp Industries

SEMBCORP Industries' waste management arm SembWaste has opened Singapore's first solar-powered electric vehicle (EV) charging hub at its Tuas depot, it said in a press statement on Monday.

The Sembcorp Green EV Charging Hub will serve as a central charging station for Sembcorp's fleet of waste and recycling electric trucks, with the capacity to conduct about 100 electric charging cycles per day.

Apart from charging SembWaste's trucks, Sembcorp also said it has plans to open the facility for public use by other industrial vehicles, which would then serve the other industries located in the Tuas region.

First Reit

FIRST Real Estate Investment Trust (Reit) said on Monday its subsidiaries have entered into conditional sale and purchase agreements to sell Sarang Hospital for around US$4.52 million. The property - which is First Reit's only property in South Korea - is a six-storey hospital with one basement level located in Yeosu City.

The manager said it believes the divestment will benefit unitholders of First Reit, as it is in line with its "proactive asset management strategy to optimise First Reit's portfolio and optimise returns for unitholders".

The net proceeds from the property divestment would be approximately US$4.3 million and may be used to fund potential acquisition opportunities, repay existing indebtedness and/or fund general corporate and working capital needs of First Reit.

Starburst Holdings

STARBURST Holdings said on Monday that its wholly-owned subsidiary, Starburst Engineering, has been awarded various contracts with an aggregate contract value of S$4.7 million.

The contracts are from two unrelated customers. Under the contracts, the subsidiary will supply, deliver and install range equipment and specialist works for firearms training facilities in South-east Asia and the Middle East and North Africa.

Starburst said work has already commenced, and is scheduled to be completed in August next year. It does not expect the contracts to have a material impact on the net tangible assets or earnings per share for the group for the current financial year ending in December.