Daily Digest
Hiap Seng Engineering
THE judicial managers of Hiap Seng Engineering received three expressions of interest for a majority stake in the company between March 22 and April 12, the group said on Thursday. It added that the judicial managers are facilitating reviews by the interested parties.
Olam International
MAINBOARD-listed Olam International will be a technical partner in the consortium that last month won the bid to privatise Saudi flour mill Second Milling Co, the agri-food group said on Thursday. Talks among the consortium partners on the terms of the agreement are expected to be done within six months.
Far East Orchard
MAINBOARD-LISTED property player Far East Orchard posted a net loss of S$700,000 for the three months to March 31, reversing earnings of S$900,000 in the year-ago period, according to a business update on Thursday. Revenue sank by 29 per cent year on year, to S$27.6 million, as the Covid-19 pandemic hurt the group's hospitality segment.
Medtecs International Corp
CATALIST-LISTED protective gear maker Medtecs International Corp's net profit rose to US$13.2 million for the three months to March 31, up from US$3.67 million in the year-ago period, according to unaudited results out on Thursday. Revenue rose 5.9 per cent on year, to US$42.2 million.
Chaswood Resources Holdings
Food-and-beverage operator Chaswood Resources' restaurant affected by Malaysia's movement control order in force in parts of Selangor, will be allowed to operate only take-away and delivery services. To counter the impact from the situation, the group has taken measures which include negotiating with the landlord for a rental rebate, driving its delivery business via various platforms.
Dukang Distillers Holdings
WATCH-LISTED baijiu maker Dukang Distillers Holdings could not get shareholders' approval to transfer its listing status to the Catalist junior board. As such, Dukang faces a trading suspension or delisting from the Singapore Exchange mainboard if it cannot exit the watch-list. Still, shareholders approved the decision for Dukang to sell its white liquor business and move into kiwi cultivation, which had been on the table since late 2018.
