Corporate Digest
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PIPE maker and distributor Sinopipe Holdings has entered into a sales and purchase agreement to fully acquire Ten-League Engineering & Technology.Ten-League provides heavy equipment solutions and services to the global port, construction, and logistics industries.
Sinopipe has appointed Hong Leong Finance as financial adviser and full sponsor for the proposed acquisition.
The company said in an earlier filing on Wednesday that the proposed acquisition has the potential to increase market capitalisation and widen the investor base of the company.
The alternative, it noted, would be a delisting and liquidation of Sinopipe.
Mary Chia Holdings
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BEAUTY and wellness firm Mary Chia Holdings and celebrity hair stylist Andy Lee have mutually agreed to extend the deadline to fulfil conditions of the former's acquisition of an 80 per cent stake in five companies under the Monsoon Hairdressing group, owned by Mr Lee.
The deadline to obtain third party approvals for the deal has been extended three months to March 31, 2021. "The administrative processes are taking longer than expected due to work-from-home arrangements and the holiday season," the parties said in a Singapore Exchange filing.
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