Corporate digest

Riverstone Holdings

A WHOLLY-OWNED subsidiary of Riverstone Holdings has acquired a piece of industrial land in Malaysia for a total consideration of RM5 million (S$1.6 million) in a bid to expand the group's production capacity for cleanroom gloves and other operations.

The land acquired by the subsidiary, Riverstone Resources, spans about 6,741 square metres, and is in the Bukit Beruntung industrial area in Selangor, Malaysia.

The acquisition will be funded by internal resources, said the group in a bourse filing on Tuesday.

Oxley Holdings

PROPERTY developer Oxley Holdings' Malaysian arm is partnering Malaysia-based Pavilion Project Management to develop Oxley Towers - a hotel, residential, retail and office complex - in Kuala Lumpur.

The Malaysian arm, Oxley Rising, has entered into a strategic partnership with Pavilion Project Management, a member of property developer Pavilion Group. Through the partnership, Pavilion Project Management will oversee the project management, construction, sales and marketing and administration of Oxley Towers.

ARA Logos Logistics Trust

ARA Logos Logistics Trust said in an update of its preferential offering that it has received valid acceptances and excess applications for a total of 205.4 million preferential offering units at the close of the offering on Jan 15. This represents about 225.4 per cent of the total number of preferential offering units available, said ARA in a bourse filing on Tuesday.

The balance 15.7 million preferential offering units which were not validly accepted will be allotted to satisfy applications for excess new units, said ARA. Preference will be given to the rounding of odd lots.

A total of 91.1 million units will be issued at S$0.5525 to raise some S$50 million.

Keppel Infrastructure Trust

THE trustee-manager of Keppel Infrastructure Trust (KIT) announced on Tuesday that KIT has entered into an unsecured S$300 million facility agreement with various lenders to partially finance its proposed acquisition, Philippine Tank Storage International (PTSI).

The trustee-manager had announced last month that it had, together with its Philippine partner Metro Pacific Investments Corporation (MPIC), entered into a conditional agreement to fully acquire PTSI.

KIT's purchase consideration, proportionate to its 80 per cent shareholding upon completion of the deal, is estimated at US$267 million.

Tee International

WHILE mainboard-listed Tee International returned to the black in the second quarter ended November 2020, the Singapore Exchange raised queries as to whether the group will be able to fulfil its obligations on S$44 million in loans, given that repayments on them fall due in a year or less. In a bourse filing on Tuesday, Tee International said that it will be able to meet its debt obligations as and when they fall due.