Corporate digest

Singapore Kitchen Equipment

THE board of directors of Catalist-listed Singapore Kitchen Equipment on Friday announced the appointments of two independent non-executive directors. Both appointments were effective from Aug 28.

Choo Kok Kiong, 51, is currently the executive director and chief financial officer of Gallant Venture, and sits on the board of QAF. He also has other positions at non-listed companies.

Lim Chee San is currently an independent director of Singapore-listed companies Colex Holdings and Blackgold Natural Resources.

Abterra

MINERAL and resources company Abterra has received a notification of delisting from the Singapore Exchange, and will have to provide a reasonable exit offer to shareholders. This comes after SGX noted that Abterra has not met the relevant requirements for it to be removed from the Watch-List. It has been watch-listed since June 5, 2018.

Abterra recorded a consolidated pre-tax loss of S$68.9 million for FY2017, and generated a negative cash flow from operating activities amounting to S$8.59 million for that fiscal year.

SGX said the company has not issued financial statements for its FY2018, FY2019 and FY2020 despite being given time to do so. It also failed to submit an application for an extension to exit the Watch-List and has yet to submit its trading resumption proposal.