Singapore company briefs: Vertex Technology Acquisition Corp. (VTAC), StarHub, China Yuanbang Property Holdings, TEE International, Astaka Holdings and Ly Corp.
StarHub said Monday it signed an exclusive deal to present the Premier League football (soccer) to customers for six years.
Vertex Technology Acquisition Corp. (VTAC)
Vertex Technology Acquisition Corp. (VTAC) reported Monday that for the 21 July to 31 December period, its total liabilities and accumulated loss was S$1.33 million.
But the report was prepared on a going concern basis based on the S$28.67 million positive equity after its initial public offering (IPO) in mid-January, the special purpose acquisition company, or SPAC, said in a filing to SGX.
Astaka Holdings said Monday its 99.99 percent owned subsidiary Astaka Padu entered an agreement to borrow up to MYR60 million in an unsecured interest-free loan from Dato’ Daing A Malek Bin Daing A Rahaman.
The lender has a deemed interest of 66.55 percent of Astaka Holdings, and a direct interest of 0.20 percent, Astaka said in a filing to SGX.
The loan will be used for working capital purposes, the filing said.
China Yuanbang Property Holdings and TEE International
China Yuanbang Property Holdings said Monday its independent director Teo Yi-Dar was asked to assist the Commercial Affairs Department (CAD) of the Singapore Police Force with its investigation of TEE International.
Teo, who was not asked to surrender his passport, is a non-executive non-independent director of TEE International, China Yuanbang Property Holdings said in a filing to SGX.
China Yuanbang Property noted the matter is not related to the company and its operations are not affected.
Furniture maker Ly Corp. warned Monday it expects to report a loss for the second half and full year 2021, mainly on a revenue drop on the temporary closure of its hostels, factories and/or warehouse in January 2021 due to Covid-related worker quarantines.
In addition, Malaysia’s measures to stem the spread of the Covid virus, including the movement control order, resulted in production cuts and reduced operating efficiency, Ly Corp. said in a filing to SGX.
Supply chain disruptions globally also impeded the delivery of finished goods, Ly Corp. said.