Corporate digest

UOB

UNITED Overseas Bank (UOB) has injected two trillion dong (S$118.9 million) worth of fresh capital into its Vietnam unit, raising its charter capital to five trillion dong from three trillion dong, the bank said in a press statement on Monday.

The capital injection, approved by the State Bank of Vietnam, is part of UOB's "long-term commitment to contributing to Vietnam's economic growth and to deepening its support of more customers".

UOB shares rose 0.6 per cent or S$0.16 to close at S$25.67 on Tuesday.

Biolidics

MEDTECH company Biolidics announced on Monday that it has developed a new ClearEpi NAB Test product that detects an individual's protective immunity against Covid-19.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign Up

Sign Up

The product has also received the CE marking, which allows it to market and sell the test in the European Union (EU). Still, the marking does not guarantee that the company will be able to secure, supply or successfully commercialise the ClearEpi NAB Test.

If Biolidics is able to successfully market and commercialise the test in the EU, the company expects the development of the test and the receipt of the CE marking to contribute positively to its revenue for the financial year ended Dec 31 this year.

As the test has not been launched, the company is unable to quantify the financial impact as sales uptake cannot be determined.

Shares of Biolidics rose 84 per cent or S$0.107 to close at S$0.235 on Tuesday.

Nanofilm Technologies

NANOFILM Technologies announced on Tuesday that its founder and executive chairman, Shi Xu, has sold a 1 per cent interest of the company's total issued shares to Venezio Investments, an indirect wholly-owned subsidiary of Temasek Holdings.

Venezio will pay S$27.1 million for the approximately 6.6 million shares that it will receive. The sale is expected to be completed in a week's time.

This works out to a price of S$4.12 per share, a 3.1 per cent discount to the nanotechnology service provider's closing price of S$4.25 on Tuesday.

After the transaction, Dr Shi will remain a controlling shareholder with a direct and indirect interest of 7.7 per cent and 47.32 per cent in the company, excluding treasury shares.

Earlier in July this year, Nanofilm had entered into a joint venture with Temasek to develop solutions to overcome existing limitations in the use of hydrogen as an energy source.