Corporate digest

Yangzijiang Shipbuilding

The shipbuilding company's directors have endorsed the proposed spin-off of the group's investment segment for a separate listing on the Singapore Exchange's mainboard.

In a bourse filing on Friday (Apr 1), it stated that the directors are of the opinion that the spin-off is in the group's "best interest", and have recommended that shareholders vote in favour of it at an upcoming extraordinary general meeting on Apr 18. The directors had considered the terms and the rationale for the proposed spin-off, and concluded that its tangible economic benefits to shareholders are "substantial, quantifiable and clearly achievable".

iFast Corporation

The wealth management platform has renamed the UK-incorporated BFC Bank as iFast Global Bank. This follows the completion of the company's acquisition of a 85 per cent stake in BFC Bank for £40 million (S$73.4 million), iFast announced in a bourse filing on Friday.

SBS Transit

The transport operator has appointed new chief executive officers (CEOs) for its core bus and rail businesses. Lim Tien Hock, 50, who headed the ComfortDelGro Driving Centre and ComfortDelGro MedCare as CEO, is made the CEO of the group's bus business. Jeffrey Sim Vee Ming, 45, the head of rail development and head of the North East Line (NEL) and Sengkang Punggol LRT (SPLRT), is named CEO of its rail business.

GuocoLand

The property developer has appointed Peter Lee Wai Mun, most recently the deputy head of business development at Keppel Land China, as the country managing director of its wholly-owned subsidiary GuocoLand China. He took over from Hoon Teck Ming and will now oversee GuocoLand's business in China, as well as its portfolio of development and investment assets in China.