Corporate digest

OCBC

OCBC has appointed Andrew Khoo Cheng Hoe as a non-executive and independent director.

Dr Khoo, 57, is currently an adjunct professor at the National University of Singapore's business school.

Before teaching, he had been at the Monetary Authority of Singapore for 22 years. He last held the position of deputy managing director of corporate development.

Grand Venture Technology

THE group, via its wholly-owned subsidiary, has executed a letter of acceptance for the purchase of a property in Malaysia for RM19.4 million (S$6.38 million).

The property has a 60-year lease which expires on Aug 7, 2072. The land area is about 74,056 square feet and the factory area is 65,076 square feet.

The group believes that the proposed purchase is needed to expansion its production capacity and will enable it to "strengthen its operational efficiency", as well as remain competitive in the market.

Frasers Logistics & Commercial Trust

FRASERS Logistics & Commercial Asset Management, the manager of the trust, will carry out a facade upgrade in mid-2021 for Central Park, an office building in Perth's central business district.

The trust's share of the project value, based on its 50-per cent ownership in the property, is estimated at A$33.2 million (S$34.3 million).

ESR-Reit

ESR-REIT'S trustee, RBC Investor Services Trust Singapore, has entered into a S$320 million unsecured loan facility agreement with UOB, Malayan Banking Berhad (Singapore Branch), RHB Bank Berhad and HSBC.

The proceeds will be applied towards general corporate funding purposes, including but not limited to refinancing existing debts, and funding the acquisition or enhancement of assets.