Corporate digest

A-Sonic Aerospace

A-SONIC AEROSPACE said on Monday that it has received a notice from the collective sale committee of International Plaza, where it has office units.

The mainboard-listed company has an aggregate of around 3,810 square feet of office units at International Plaza, and it is occupying the units, it said in the exchange filing.

Based on the information memorandum prepared by the collective sale committee, the indicative independent third party market valuation of its office units was S$6.6 million, above the carrying value in its accounts of around S$1.4 million, as at June 30, A-Sonic said.

It noted that the memorandum had a "sale price for illustration only" that put the "approximate gross sale proceeds" of the office units at S$9.3 million. However, it added that there is no assurance of the collective sale and no certainty on the expected valuation.

ecoWise Holdings

ECOWISE Holdings said on Monday that it has applied to Singapore Exchange Regulation (SGX RegCo) on Saturday for a four-week time extension to appoint independent directors to fill the vacancies in its audit committee.

The Catalist-listed company originally had an Aug 4 deadline to fill the vacancies, and it is now seeking for the deadline to be extended to Sept 3.

In May, two independent directors of ecoWise, who had been part of its audit committee, resigned from the company. Since May 7, the company has only one member in its audit committee. Under Catalist rules, companies are required to have a minimum of three members on the audit committee, and in the event of a resignation, have the vacancy filled within three months.

ecoWise said it had commissioned the Singapore Institute of Directors to search for suitable applicants, and it is currently conducting due diligence and assessing the suitability of a list of shortlisted candidates. The company said it would need more time to complete its assessment as well as to submit the nominated candidates to SGX RegCo for pre-clearance. It expects to be able to complete the appointment process by Sept 3.