The following companies saw new developments that may affect trading of their securities on Tuesday (Mar 7):
Yangzijiang Financial Holding (YF8): Yangzijiang Financial Holding will team up with Singapore-based fund manager Tahan Capital Management to invest in private credit assets in Asia.
The partnership is viewed as a “strategic move to diversify the group’s portfolio and promote sustainable growth in the region”, the financial company said in a bourse filing Monday (Mar 6). It added that it sees “great opportunities” ahead for Asia private credit assets “in view of the secular growth trend in the region and the required funding needs”.
Citing data from investment data company Preqin, Yangzijiang Financial noted that the private credit market in the Asia-Pacific has grown significantly over the last few years and is expected to expand further.
OKP (5CF): OR KIM Peow Contractors, a unit of OKP Holdings, has been awarded S$43.8 million over an arbitration case on a 2017 accident involving the Pan-Island Expressway (PIE) viaduct collapse.
An arbitration tribunal ordered consultancy services company CPG Consultants to pay the full sum to the company within 28 days from Mar 3, the mainboard-listed company said in a bourse filing on Monday (Mar 6).
In July 2017, a road viaduct under construction collapsed near the PIE exit to the Tampines Expressway, killing one worker and injuring 10 others. OKP Holdings clinched the viaduct project in 2015 for S$94.6 million. CPG had been engaged by the OKP unit to provide design services for a contract related to the accident.