Update

YuuZoo CEO 'forced to quit' as company closes subsidiaries in Singapore, terminates employments
SINGAPORE (Mar 18): The chief operating officer (CEO) and executive director of YuuZoo Networks Group, formerly known as YuuZoo Corporation, resigned effective today. Known only as Mohandas, the 43-year-old was said to have tendered his resignation on Mar 5, his reason being: “Company unable to continue Singapore operations due to continuing share trading suspension”. According to ...
Hyflux postpones third town hall; cites space issues due to 'large number' of expected attendees
SINGAPORE (Mar 12): Hyflux is postponing its town hall meeting indefinitely as the group says the venue cannot accommodate the “large number” of shareholders and noteholders who said they wished to attend. The group adds that it will announce the details of the rescheduled meeting as soon as possible. Originally scheduled to take place tomorrow at 7pm, the third round of Hyflux’s town ...
Raffles Education scraps $27.4 mil rights issue in view of recent market conditions, share price falls
SINGAPORE (Mar 6): Raffles Education Corp is cancelling its proposed 2-for-10 rights issue, which would have allowed the group to raise up to about $27.4 million in net proceeds after raising 275.9 million new shares at the issue price of 10 cents per share.   Citing “recent market conditions”, the group also notes that its current share price is currently below the 10-cent issue ...
Datapulse slapped with writ of summons by ex-directors after partial payment of claim
SINGAPORE (Feb 26): Three former executive directors of Datapulse Technology have commenced legal action against the company for a balance sum of their original demand. To recap, former directors Ng Cheow Chye, Ng Cheow Leng and Si Yok Fong had filed a Nov 14 letter demanding Datapulse to pay them an aggregate sum of $751,118, which they claimed due to them part of a profit sharing arrangement ...
Singapore Medical Group announces $50 mil share purchase from existing shareholder CHA
SINGAPORE (Feb 20): Singapore Medical Group (SMG) says its 6.86% shareholder CHA Healthcare Singapore (CHAS) is increasing its stake in the group to 24.13% by purchasing existing shares from certain SMG shareholders via a $50 million investment.   This comes after the group called for a trading halt following a 4.4% surge in its share price to 47 cents within the first three hours of ...
Procurri falls 9.7% to 28 cents as New State also withdraws acquisition offer
SINGAPORE (Feb 19): Shares of Procurri Corporation fell on Tuesday morning after it announced that potential investor New State Capital Partners had withdrawn its acquisition offer. The latest withdrawal follows the Feb 8 termination of discussions by a second potential offeror after New State to acquire the company through a possible voluntary general offer. Enterprise hardware ...
iX Biopharma disposes of Australian lab testing business for $12 mil after 2Q losses
SINGAPORE (Feb 18): iX Biopharma is selling Chemical Analysis, its laboratory testing business in Australia, to Eurofins Australia New Zealand Holding for A$12.5 million ($12 million).   The consideration is about $10.6 million and $10.84 million over the book value and its net tangible asset value (NTA) of the sale shares, and translates to a net gain on disposal of about $10.4 ...
Second potential offeror rescinds expression of interest to acquire Procurri less than 24 hours later
SINGAPORE (Feb 8): Procurri Corporation says the second potential offeror to express interest in acquiring the company after New State Capital Partners LLC has now decided to terminate further discussions on the matter. The update comes less than 24 hours after Procurri had received its second, unsolicited non-binding expression of interest (EoI) from an unnamed third party to acquire the ...
SingPost to hire more postmen, redeploy drivers and increase PO staff after being fined $100,000 for not meeting quality standards
SINGAPORE (Feb 8): Singapore Post (SingPost) says it will be hiring a hundred more postmen and redeploying 35 mail-drop drivers to become full-time postmen as well as increase the number of dedicated counters and staff at post offices, aside from upgrading the skill-set of its postal workers. It will also carry out a broader salary review with incentives for successful deliveries of trackable ...
Sino Grandness to service $28.7 mil debt using dividends from China
SINGAPORE (Feb 7): Sino Grandness Food Industry Group says it is currently preparing to repatriate funds back from China, by way of dividend, amid ongoing negotiations with Soleado Holdings to extend the repayment of $28.7 million owed. To recap, Soleado Holdings is demanding Sino Grandness pays an outstanding loan principal amount of US$21.2 million ($28.7 million) and $30,000 in interest and ...