Corporate digest

Globe Telecom

Globe Telecom Inc, the Philippines' biggest telecommunications provider by market value, is considering selling its data centers in a deal that could be worth about US$200 million, according to people with knowledge of the matter.

The company, which counts Singapore Telecommunications and Filipino conglomerate Ayala Corp. among its largest shareholders, is working with an adviser on the potential divestment, the people said, asking not to be named as the process is private. Deliberations are ongoing and there is no certainty there will be a deal, they said. A representative for Globe Telecom declined to comment. BLOOMBERG

Fragrance Group

PROPERTY developer Fragrance Group announced on Wednesday that it has made an application to the Singapore Stock Exchange to delist the Catalist-listed company following the completion of its acquisition.

In early July, Fragrance Group's founder and chief executive Koh Wee Meng, through offeror JK Global Treasures, made a voluntary conditional cash offer for all the issued and paid-up ordinary shares of the group at 13.8 Singapore cents per share to take the company private.

Miyoshi Limited

COMPONENTS manufacturer Miyoshi Limited announced that it has received a notice from a customer that it will delist its registered activity with the Philippines Economic Zone effective from Nov 30, 2021.

The reason of the discontinuing project is mainly due to the business directive of the customer to consolidate its production line.

The customer is the Catalist-listed group's major revenue contributor. The impact on the consolidated net tangible assets and consolidated earnings per share of the group for the next financial year is estimated to be about 1.2 per cent and 48.5 per cent respectively.

Koon Holdings

INVESTMENT holding company Koon Holdings announced on Wednesday that it has received notification from the Australian Securities Exchange (ASX) that the company would be removed from the official list of the ASX, with effect from the commencement of trading on Monday, Sept 6, 2021.

With the company no longer listed on its home exchange ASX, the secondary listing status of the company on the Singapore Exchange (SGX) would no longer be valid. The company has written to SGX to apply to be delisted.

This comes as ASX's policy is to remove from the official list entities that fail to lodge any of the required documents for a continuous period of one year after the deadline for lodgement, and entities whose securities have been suspended from quotation for a continuous period of two years.

ASX noted in the letter containing its decision that the company had been continually suspended for a continuous period exceeding two years on Aug 30, 2021.