Corporate digest
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SINGAPORE Exchange (SGX) is looking to get approval from the eligible shareholders for the issuance of new shares under the scrip dividend scheme at the annual general meeting (AGM) on Oct 7.
SGX said this will enable these shareholders to acquire further equity in the company without having to incur brokerage fees, stamp duty and other related costs.
SGX itself will also benefit from the retention of cash which will help to strengthen its working capital position and provide financial flexibility.
The AGM will be held at 10am on Oct 7, and shareholders have until 10am on Oct 4 to pre-register for the virtual AGM and to submit their forms of proxy.
Prime US Reit
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THE manager of Prime US Reit is in discussions with tenant WeWork on the resolution of the latter's lease obligations at Tower 1 at Emeryville, a Class A office property in California.
The statement comes after the local San Francisco press reported that WeWork will be closing its co-working operation at the building.
WeWork occupies 56,977 square feet (sq ft) of space within the real estate investment trust's 3.89 million sq ft portfolio, the manager said in a bourse filing on Monday.
The co-working operator also contributes about 2.5 per cent of Prime US Reit's cash rental income as at June 30.
In light of the security package, the manager does not expect the lease to have any impact on Prime US Reit's distribution per unit for the current financial year.
Sri Trang Gloves
GLOVE manufacturer Sri Trang Gloves (Thailand) has commissioned a new facility worth 1.6 billion baht (S$65.3 million) in Sadao District, Thailand, to meet the increasing global demand for latex and nitrile gloves.
Upon completion of the ramp-up to eight production lines in April 2022, the facility will be able to produce three billion gloves annually.
The facility is able to produce a diverse range of products, including natural latex and nitrile gloves.
This brings the total number of facilities currently operated by company to 10, and comes hot on the heels of the opening of two other facilities in Surat Thani Province earlier this year
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