SG briefs: Ascendas REIT, CDL Hospitality Trusts, Broadway Industrial, ValueMax, QT Vascular

The Grab headquarters in Singapore, which was completed as a build-to-suit space by Ascendas REIT in the second half of 2021. Credit: Ascendas REIT (Photo: RENDY ARYANTO/VVS.sg)The Grab headquarters in Singapore, which was completed as a build-to-suit space by Ascendas REIT in the second half of 2021. Credit: Ascendas REIT (Photo: RENDY ARYANTO/VVS.sg)

Singapore company briefs: Ascendas REIT, CDL Hospitality Trusts, Broadway Industrial Group, ValueMax Group and QT Vascular.

Ascendas REIT

Ascendas REIT said Wednesday it has secured a US$120 million committed term loan facility maturing in 2027. 

CDL Hospitality Trusts

CDL Hospitality Trusts said Wednesday it has entered into a facility agreement for a multicurrency revolving credit facility of S$200 million. 

Broadway Industrial Group

Broadway Industrial Group said Wednesday it has suspended operations of BIGL Technologies (Shenzhen) until 20 March in line with the local government’s directive to stem the spread of the Covid-19 virus. 

The temporary suspension isn’t expected to have a material impact on the company’s financial position, with manufacturing operations in Thailand, Wuxi and Chongqing remaining fully operational and the company still able to fulfil its obligations to customers, Broadway Industrial said in a filing to SGX. 

“Since the outbreak of the Covid-19 pandemic in early 2020, the management of the company has put in place a Covid-19 response and contingency plan across all its manufacturing operations, including holding additional raw materials and finished goods inventory,” the company said. 

ValueMax Group

ValueMax Group said Wednesday it has closed the second tranche issuance of digital securities commercial paper, raising S$26.5 million, with the digital securities to be listed on the ADDX platform on 17 March. 

Tan Hong Yee, a controlling shareholder, subscribed for S$2.6 million of the securities, ValueMax’s Chief
Credit and Risk Officer Yeah Chia Wei took up S$800,000, and Executive Director Yeah Lee Ching, took up S$100,000, amounting to 13.2 percent of the offering, the pawnshop operator said in a filing to SGX.

Tan Hong Yee is married to ValueMax Executive Chairman Yeah Hiang Nam, while Yeah Chia Wei  is his son and Yeah Lee Ching is his daughter, the filing said.

QT Vascular

QT Vascular said Wednesday its 60 percent-owned subsidiary Asia Dental Group incorporated a wholly owned subsidiary, Eastern Dental Centre to provide dental services and management consultancy services for healthcare organisations. 

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