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Daily Debrief: What Happened Today

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Singapore top court upholds order for Commerzbank to pay Long Well S$41m for breaching agreements

Singapore’s highest court, the Court of Appeal, has upheld an earlier High Court order for Commerzbank-owned Commerzbank Asset Management Asia (CAMA) to pay Long Well Group S$41 million in relation to a soured investment, Long Well said in a statement on Friday.

Procurri says second interested buyer has terminated discussions

Enterprise hardware supplier Procurri Corporation disclosed on Friday morning that discussions of a possible offer with a second interested buyer have been terminated. Procurri said in a filing to the Singapore Exchange that the second interested buyer would treat the expression of interest – which had been unsolicited and non-binding – as “having expired”.

TSH completes reverse takeover to enter pub and bar business

TSH Corporation on Friday said it has completed the acquisition of Sloshed! Pte Ltd, a company in the business of operating pubs and bars, and the import, export and distribution of spirits, wines and liquors, for about S$19.4 million in a reverse takeover (RTO) deal.

Resources Prima, substantial shareholder agree to extension of time to complete convertible loan pact

Indonesian coal miner Resources Prima Group and substantial shareholder Ang Liang Kim have agreed to an extension of time until June 30, 2019 to complete the key terms of a convertible loan agreement. 

FSL Trust units receive up to US$25m bridging loan from sponsor for tanker buys

First Ship Lease Trust (FSL Trust) on Friday said its sponsor and controlling unitholder FSL Holdings has agreed to extend  a secured, interest-bearing bridging loan of up to US$25 million to partially finance the acquisition of two newbuild tankers.

The STI Today

Singapore shares close flat on Friday

Singapore shares closed flat on Friday, with the Straits Times Index up 1.40 points or 0.04 per cent to 3,202.04. About 1.19 billion securities worth S$965.41 million in total changed hands, which worked out to an average unit price of S$0.81 per security.