Corporate digest

Medtecs International

The healthcare player has entered into a joint venture (JV) with ACO International to build a fully vertically integrated product development, manufacturing, sales and distribution platform.

Medtecs' board believes the JV will allow the group to expand its manufacturing capabilities and product offerings, and ultimately, expand its revenue streams.

The move is also in line with Medtecs' strategy to leverage ACO's business network, resources and competitive strengths to capture increased market demand for PPE products worldwide, it said.

Union Gas Holdings

The company is working with Surbana Jurong to study the potential of redeveloping its fuel station at Old Toh Tuck Road into a multi-fuels and energy facility.

The two parties will study the feasibility of adding sustainable energy delivery, storage methods and solutions to the site.

They are expected to conclude the study and make recommendations within the next six months.

Sarine Technologies

The Israel-based diamond technology firm, which is listed on the Singapore Exchange's main board, said on Wednesday that it is planning to seek a dual listing on Israel's Tel Aviv Stock Exchange.

Sarine said that it has "progressively generated growing interest" in its business and equities in the Israeli investment market. It expects the dual listing to be completed during Q2 2021.

Sen Yue Holdings

DBS has applied to the High Court for Sen Yue and its subsidiary to be placed under judicial management.

The subsidiary, SMC Industrial (SMCI), owes DBS around S$5.9 million and has about US$9 million outstanding, plus all accrued interest and legal costs on an indemnity basis. In January, it received a letter of demand from DBS, which had recalled banking facilities on the grounds of default.

The lender had demanded that the sums be paid in three weeks, failing which SMCI would be liable to be compulsorily wound up.