Corporate digest
TLV Holdings
TLV Holdings will change its trading counter name on the Singapore exchange to "Taka Jewellery" from the current "TLV", with effect from Nov 8, 9 am.
The catalyst-listed company has also officially changed its name to Taka Jewellery Holdings after the Accounting and Corporate Regulatory Authority (Acra) issued a Notice of Change of Name with effect from Tuesday (Nov 2).
Proposed in September, the change is meant to increase shareholder awareness of the company's better-known jewellery businesses. In the proposal announcement, the company also shared its plans to diversify into the moneylending business.
SingHaiyi Group
THE property developer's unit Tri-County Mall LLC is looking to dispose of a two-storey shopping mall in Ohio for US$29 million, having entered a sale and purchase agreement on Nov 2 with Park Harbor Capital LLC.
The consideration was arrived at after arms' length negotiations and on a "willing-buyer, willing-seller" basis, "taking into account the book value and the redevelopment potential of the property", said SingHaiyi.
The property's book value as at Mar 31 was US$18.7 million. Its original purchase price was US$45 million.
SingHaiyi said the proposed disposal is in the ordinary course of business and it is of the view that it "will not materially change the risk profile of the group".
CDW Holding
THE mainboard-listed firm's subsidiary Tomoike Bio, together with the group's associated company A Biotech Co, has started pre-clinical trials at the Korean National Cancer Centre to evaluate the use of an antibody in cancer treatment.
The trials aim to evaluate the efficacy of Tomoike Bio's anti-Cripto-1 antibody in inhibiting brain tumour growth in mice.
CDW continues to work with A Biotech and Okayama University in Japan to enhance the potential therapeutic applications of the antibody in targeting cancer stem cells, and is starting preparation for mouse efficacy tests on other cancer types.
CDW said it is "actively seeking pharmaceutical partners to undertake the next stages in the drug development process", which will allow it to generate revenue by licensing its intellectural property to a pharmaceutical company.
CDW is a precision components specialist, but has been diversifying into new businesses, with forays into the life sciences sector since 2016.
Chairman and chief executive officer Yoshikawa Makoto said the firm continues to push ahead with drug development efforts to unlock value from it IP assets, and capturing counter-cyclical opportunities in healthcare.
