Corporate digest

Hong Leong Asia

HONG Leong Asia's US-listed subsidiary China Yuchai announced on Thursday that it has entered into an agreement with the Government of Nanning Municipality to research, develop and construct new production capacity for new energy technologies.

These include fuel cell systems, range extenders, hybrid power and electric drive systems.

China Yuchai manufactures and distributes engines for on and off-road applications in China through its subsidiary Guangxi Yuchai Machinery Company.

Shares of Hong Leong Asia closed 0.6 per cent or S$0.005 higher at S$0.81 on Thursday.

Dutech

MAINBOARD-LISTED Dutech Holdings announced that the company has received approval from the Singapore Exchange (SGX) to delist on Oct 4.

The stock's free float had fallen below 10 per cent following a privatisation offer from the company's chief executive.

GS Holdings

CATALIST-LISTED GS Holdings announced on Thursday that its indirect wholly-owned subsidiary, Hao Kou Wei Food Group, has signed a franchise agreement to expand its Sing Swee Kee brand of Hainanese chicken rice to Qatar. The franchise agreement was signed with Singapore food and beverage entrepreneurs Tan Yan Shan and Lim Yee Min.

The company does not expect the agreement to have any material impact on the consolidated earnings per share and consolidated net tangible assets per share of the group for the current year ending Dec 31, 2021.

GS Holdings shares closed flat at S$0.295 on Thursday.

LHN Group

PROPERTY player LHN Group has entered into a joint venture (JV) with Oxley deputy CEO Low See Ching to purchase properties located at Balestier Road.

LHN Group will effectively control 70 per cent of the JV, while Mr Low will hold the remaining 30 per cent.

Under the terms of the JV, LHN will be appointed by the JV company as a project manager for the properties.

Should the JV embark on assets enhancement initiatives (AEI), it will appoint LHN Group as the project management company. The JV company will pay LHN Group a project management fee of 3.5 per cent on top of project AEI costs, subject to a minimum fee of S$10,000 per month during the AEI period.

LHN Group shares closed flat at S$0.295 on Thursday.