SG briefs: Grab, Secura, Ntegrator, Debao Property, Eagle Hospitality Trust, Roxy-Pacific

A private hire car from ride-hailing firm GrabA private hire car from ride-hailing firm Grab

Singapore company briefs: Grab and Secura Group, Ntegrator International, Debao Property Development, Eagle Hospitality Trust and Roxy-Pacific Holdings.

Grab and Secura

Superapp Grab and security services provider Secura Group have entered a collaboration to offer new security officer training courses and 200 job openings in the security sector to Grab’s driver and delivery freelancers, the companies said in a filing to SGX Wednesday.

“While waiting for a full recovery in the economy and demand for rides, Grab’s-partners can gain alternative skills and explore an additional work opportunity in security services while still remaining on the Grab platform,” Kan Kheong Ng, executive director and CEO of Secura, said in the statement.

“For Secura, not only does this collaboration widen our pool of potential training course attendees and the reach of our courses, it also offers an answer to the manpower crunch in Singapore following the imposition of stricter controls on the hiring of foreign talents,” Ng added.

Read Grad and Secura’s filing to SGX.

Debao Property Development

Singapore Exchange Regulation (SGX RegCo) has reprimanded Debao Property Development for breaches of listing rules related to its acquisition of Elite Starhill.

The company had failed to consider an additional payment for a development agreement as part of the consideration for the acquisition, and had classified the deal as a “disclosable transaction,” instead of a “very substantial acquisition,” SGX RegCo said.

Read SGX RegCo’s statement on the rules breached.

Ntegrator International

Ntegrator International said Wednesday it obtained an around S$4 million contract from a regional network service provider to build an around 7.8 kilometer long underground pipeline in the Changi area of Singapore. The contract begins on 1 April and is expected to be completed by year-end, the company said in a filing to SGX.

Read Ntegrator’s filing to SGX.

Eagle Hospitality Trust

DBS Trustee, as trustee of Eagle Hospitality REIT, said Wednesday that in the foreclosure of the Hilton Houston Galleria, the property’s receiver has determined the highest bid for the assets was US$14 million.

The disposal was completed on 1 February and the net proceeds were used to offset the outstanding mortgage and other items due to Wells Fargo of around US$15.6 million, the trustee said in a filing to SGX. The proceeds were insufficient to cover the entire outstanding balance, the filing noted. The filing was made to update the holders of Eagle Hospitality Trust stapled securities.

Roxy-Pacific Holdings

Roxy-Pacific Holdings said Wednesday that SGX had given approval for the company’s application to delist its shares as management-led group TKL & Family held more than 90 percent of the shares after its takeover bid.

Read more: Roxy-Pacific gets management-led bid to take company private at premium