Corporate digest

SIA Engineering Co

MAINBOARD-LISTED SIA Engineering Co (SIAEC) has set up a S$1 billion euro medium-term note programme, with net proceeds to be used for general corporate purposes such as refinancing borrowings, funding investments, or general working capital.

The notes - which may bear no interest, or fixed, floating, variable or hybrid rates - will rank pari passu with all of SIAEC's other unsecured obligations, other than certain obligations and priorities under the law. DBS is the arranger and dealer of the programme, according to SIAEC's bourse filing late on Friday (Oct 29).

ValueMax Group

PAWNBROKER ValueMax Group has launched a S$100 million multi-tranche unsecured commercial paper facility programme and plans to list the securities on private exchange ADDX, which used to be called iStox.

The ADDX exchange issued a conditional eligibility-to-list letter last Friday (Oct 29) and ValueMax plans to issue the first tranche under the commercial paper programme in the quarter ending Dec 31, the board said in its Friday-night announcement.

Taurus Point Capital was named as the corporate finance adviser for both the commercial paper programme and the planned listing.

Jasper Investments

MAINBOARD-LISTED offshore oil and gas services provider Jasper Investments has lost its chairman and lead independent director, who did not win re-election at the annual general meeting on Saturday (Oct 30).

Michael Chan, 59, had held the position since Dec 2015. With his departure, the company no longer has any independent directors living in Singapore, according to a bourse filing on Sunday (Oct 31) afternoon.

The audit committee is also shy of the minimum 3 members. Chan had been audit committee chairman, and a member of the remuneration and nominating committees. He holds 5 million shares in the company.

Metech International

CATALIST-LISTED Metech International's joint-venture company Asian Eco Technology has inked a deal with Chinese scientific instrument distributor Hua Pu Technology to jointly look into semiconductor industrial applications for artificial diamonds, Metech announced on Sunday (Oct 31).

The latest news came about a fortnight after Asian Eco Technology said that it would lease a property in Kallang to start producing laboratory-grown diamonds by year-end.