SG Briefs: Sinjia Land, BINEX, SATS, Overseas Education, ES Group, AF Global

SATS Gateway Services bus at Changi AirportSATS Gateway Services bus at Changi Airport

Singapore company briefs: Sinjia Land and BINEX Singapore, SATS, Overseas Education, AF Global and ES Group (Holdings).

Sinjia Land and BINEX Singapore

Sinjia Land has entered a deal with BINEX, 3DOM, Biomass Energy Corp., Mebius and Future Science Research to acquire BINEX Singapore in a reverse takeover. In November, Sinjia Land had entered a non-binding term sheet for the acquisition.

BINEX Singapore cultivates, harvests and sells sorghum, and makes biomethanol from sorghum, sells sorghum bio-pellets and buys and sells carbon credits derived from sorghum’s carbon dioxide absorption, the filing said.

Read Sinjia Land’s filing to SGX.

SATS

SATS said Monday it has obtained ISO 37001 certification, which is an international standard for anti-bribery management systems. 

Read SATS’ filing to SGX.

Overseas Education

Overseas Education warned Monday it expected to report a “materially lower” profit before tax for 2021 as compared with 2020. 

“The prolonged Covid-19 pandemic continued to negatively impact our student numbers, both in terms of new enrolments and in the retention of existing foreign students. This caused a decline in revenue for FY 2021,” Overseas Education said in a filing to SGX. 

“In addition, the group received lower levels of government budget support measures and grants to help defray operating expenses,” the company said. 

Read Overseas Education’s filing to SGX.

ES Group (Holdings)

ES Group (Holdings) warned Monday it expected to report a net loss for 2021 due to lower revenue as it faced worker curbs in its shipyard activities as Singapore restricted bringing in foreign workers and on Covid-related workplace safe-management measures.

The company also saw lower chartering revenue in its shipping segment on Covid-related disruptions and downtime, and its vessel, ES Jewel, faced unplanned repair resulting in significant expenses, ES Group said in a filing to SGX. 

Read ES Group’s filing to SGX.

AF Global

AF Global warned Monday it expected to report a loss for 2021, mainly due to the adverse impact of Covid-19 on its hospitality business.