Corporate digest

Megachem

MEGACHEM'S associated company, Megachem (Thailand) Public Company, has entered a joint venture in a bid to expand into the manufacturing of expandable graphite.

Megachem Thailand has 49 per cent interest in the joint venture, while its partner, Fuji Graphite Works, holds 51 per cent.

The joint venture will tap Fuji Graphite's expertise in producing expandable graphite and Megachem's distribution network in Asia, said Megachem.

USP Group

THE High Court has granted leave for Oon Koo Cheng, a creditor of USP Group, to withdraw his winding up application against the company. This comes as USP Group paid the final instalment of S$300,000 plus interest to Mr Oon on Feb 16.

Hong Lai Huat Group

THE group's subsidiary, HLH Agriculture (Cambodia), has obtained in-principle approval for mixed-use development from the Royal Government of Cambodia to develop an agriculture eco-city.

The project site is about 100km away from Phnom Penh, Cambodia's capital, but lies near the country's only deep water seaport.

The group said the project will feature a "mega, state-of-the-art warehouse" and logistic hub, as well as "value-added agriculture industry and community living concepts", to attract local, Singapore and international investors.

Hatten Land

THE group has appointed Tammy Tam Huey Chyun to be the new financial controller, with current chief financial officer Chong Heng Loong set to leave on March 24. No reasons were stated for Mr Chong's resignation.

Ms Tam, 44, was until recently manager of the group's accounts. She has been with Hatten Land since 2017.