Corporate digest

ComfortDelGro

TRANSPORT operator ComfortDelGro on Friday (Jan 28) announced that its wholly-owned subsidiary, ComfortDelGro (China), has entered into a sale and purchase agreement to sell its 60 per cent stake in Nanjing ComfortDelGro Xixia Driver Training Co for 2.26 million yuan (about S$500,000).

In a separate announcement, the company also said it is expecting a delay for the completion of its acquisition of the UK public transport provider Stagecoach Group's remaining 35 per cent stake in Scottish Citylink Coaches. This acquisition was initially slated for completion on or around Feb 28.

IHH Healthcare

IHH Healthcare has filed to dismiss a suit brought against it by Emqore Envesecure Private Capital (Emqore) in an regulatory announcement on Friday.

The suit served to IHH Healthcare on Jul 26, 2021 by Emqore, sought damages in excess of US$6.5 billion for claims relating to the issuance of shares of Fortis Healthcare to IHH's subsidiary in 2018. Emqore alleges that it has suffered losses as the defendants had allegedly conspired to frustrate a proposed share acquisition transaction between Fortis Healthcare and Emqore's supposed predecessors.

The company was 1 of 28 named defendants in the suit. IHH Healthcare has filed a motion to dismiss the suit for lack of personal jurisdiction and failure to state a claim under the Federal Rules of Civil Procedure.

Singapore Kitchen Equipment

CATALIST-LISTED Singapore Kitchen Equipment announced on Friday, that its group senior sales manager, Alvin Chiao Shan Ran, has been administered a stern warning by the Corrupt Practices Investigation Bureau (CPIB).

CPIB will also take no further action in its investigation of Sally Chua Chwee Choo, executive director and chief executive officer of the company.