Singapore company briefs: Darco Water Technologies, Ho Bee Land, Singapore O&G, Lian Beng Group and Clearbridge Health.
Darco Water Technologies
Thye Kim Meng, Darco Water Technologies‘ former executive officer and director, in response to news Tuesday the the Writ of Summons and Statement of Claim in the High Court of Singapore which the company filed against him had been dismissed, with no finding of breaches on Thye’s part, stated: “As a substantial shareholder I am saddened by people at the helm of the company who are squandering company’s precious financial resources to pursue a baseless claim against me.”
The comment was part of an emailed statement Wednesday.
On Tuesday, Darco Water had said it was considering its options, including a potential appeal.
Ho Bee Land
Ho Bee Land said Wednesday it has completed the acquisition of a residential development site in the Craigieburn West Precinct Structure Plan area in Melbourne for A$142 million. The site is expected to yield around 1,150 residential lots, Ho Bee Land said in a filing to SGX.
Clearbridge Health said Wednesday legal proceedings brought by its indirect subsidiary PT Tirta Medika Jaya (TMJ) in South Jakarta against its former directors Sam Pranoto, Andreas Kuntjoro Mukri and David Sahputra Hadiwibowo, resulted in a judgement in favor of TMJ, with the defendants jointly ordered to pay damages of around IDR15.19 billion, or around S$1.44 billion.
Singapore O&G said Wednesday it has appointed Xander Capital as its independent financial adviser to advise the company’s independent directors on making a recommendation to shareholders on the takeover offer.
Lian Beng Group
Lian Beng Group said Wednesday its wholly owned subsidiary, Deenn Engineering, obtained a new construction project, bringing the group’s construction order book in Singapore to around S$1.4 billion.
The orderbook “will provide a sustainable flow of activity through FY2026,” Lian Beng said in a filing to SGX.