THE following companies saw new developments that may affect trading of their securities on Thursday (Jan 11):
Frasers Property: The majority owners of Frasers Property could put the company or some of its assets up for sale as part of a strategic review, reported The Wall Street Journal (WSJ) on Wednesday (Jan 10).
The review, which is in its initial stages, is part of shareholders’ efforts to raise capital to help reduce the debt accumulated over the past few years as a result of acquisitions.
That being said, there is no assurance of any outcome from the review, the report added, quoting people familiar with the matter.
CDL: CITY Developments Ltd (CDL) and Far East Organization opened the year’s season for new housing launches with their Lumina Grand executive condominium (EC) and Hillhaven condo projects.
Units on offer at CDL’s Bukit Batok EC Lumina Grand range from 936 square feet (sq ft) for a three-bedroom to 1,711 sq ft for a five-bedroom unit. Prices start from around S$1.34 million, or about S$1,429 per square foot (psf) for three-bedroom units; S$1.39 million (S$1,432 psf) for three-bedroom premium; S$1.63 million (S$1,413 psf) for four-bedroom units; and S$2.1 million (S$1,402 psf) for five-roomers.
Located at the junction of Bukit Batok West Avenue 5 and Bukit Batok Road, Lumina Grand EC is a 512-unit development that is close to Tengah Town. The project comprises 10 residential blocks of 12 to 13 storeys, on a site area of around 179,000 sq ft, said CDL on Wednesday (Jan 10).
ThaiBev: Thai Beverage (ThaiBev) announced on Wednesday (Jan 10) key leadership changes to its organisational structure “to enhance operational synergies” and “ensure sustainable business growth”.
Thapana Sirivadhanabhakdi, ThaiBev’s current director, president and chief executive, will be redesignated as director and group CEO, the beverage maker said in a bourse filing.
Kosit Suksingha and Rapakon Thongtheppairot – who are currently executive vice presidents – will be appointed as presidents and group chief operating officers of ThaiBev. Both will report to Sirivadhanabhakdi.
Soilbuild: TWO units of Soilbuild Construction Group have bagged S$24.3 million in new contracts, the company said in a bourse filing on Wednesday (Jan 10).
Soil-Build, a wholly-owned subsidiary, has been awarded a construction contract by SB (2TS) Investment for demolition and piling works for a multi-user industrial development at Tuas South Avenue.
Construction for the development – billed as the Tuas South Project – is set to start in the first quarter of 2024 and to be completed by Q3.
Meta Health: HEALTHCARE technology company Meta Health has reached an out-of-court settlement with two former executives of its wholly owned subsidiaries, Gainhealth and 5Digital.
In a bourse filing on Wednesday (Jan 10), Meta Health said both units have entered into and executed a written settlement agreement with Dr Vasanthan Metupalle, the former chief medical officer of 5Digital, and Jagannathan Padmaja Sakthi, a former director of Gainhealth who is also Dr Vasanthan’s spouse.
In May 2023, Gainhealth and 5Digital commenced legal proceedings against Dr Vasanthan, Sakthi, as well as 1Life Healthcare and Aventres Enterprise Limited, two entities which were not part of Meta Health.
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