Singapore companies in focus on Thursday, 17 March 2022:
- ComfortDelGro taps SBS Transit CEO Cheng Siak Kian as deputy CEO
- DBS taps Ginger Cheng for DBS China CEO
- SPH: Outlook deteriorating since Russia invasion of Ukraine
Others: JB Foods, No Signboard, EcoWise Holdings, Marco Polo Marine and Seatech Solutions.
DBS Group said Wednesday it will be appointing Ginger Cheng, currently deputy CEO of DBS China, to the role of CEO of DBS China, effective 1 April.
ComfortDelGro and SBS Transit
ComfortDelGro has appointed Cheng Siak Kian, age 52, who is currently CEO of its 74.43 percent-owned subsidiary SBS Transit, to the newly created position of deputy CEO, the land transport company said in a filing to SGX Wednesday.
SPH CEO Ng Yat Chung said the operating environment for the property company has deteriorated since Russia’s invasion of Ukraine in late-February, citing the volatile outlook as a reason for shareholders to accept Cuscaden Peak’s bid for the company.
JB Foods reported Wednesday the company expected Russian and Ukraine to contribute around 10 percent of the group’s revenue for 2022, down from 17 percent of 2021 revenue.
Marco Polo Marine and Seatech Solutions
Marco Polo Marine, together with green-tech ship-design company Seatech Solutions International (S), will co-develop two new specialised offshore wind service, operation and maintenance vessels, the Singapore-listed company said in a filing to SGX Wednesday.
No Signboard Holdings has entered into a loan agreement with Q & M Dental Group (Singapore)‘s founder Ng Chin Siau for an interest-free unsecured loan of S$2.6 million, the troubled Singapore chilli crab restauranteur said in a filing to SGX Wednesday.
EcoWise Holdings has cited Wednesday a material uncertainty over whether the group can continue as a going concern, pointing to recent letters of reminder and demand from financial institutions requesting repayments.
Singapore company briefs: Ascendas REIT, CDL Hospitality Trusts, Broadway Industrial Group, ValueMax Group and QT Vascular.
Singapore company briefs: Manhattan Resources, British and Malayan Holdings, Ascent Bridge and AEI Corp.