SG briefs: Reenova Investment, Pavillon Holdings

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Singapore company briefs: Reenova Investment Holdings and Pavillon Holdings.

Reenova Investment Holdings

Reenova Investment Holdings has entered a facility letter to receive a S$350,000 loan from JW Venture Capital to finance expenses related to the company’s reverse takeover deal, the company said in a filing to SGX Saturday. 

The loan is for 12 months with a 12 percent per annum upfront interest, the filing said, adding Executive Chairman Chen Tong is providing a guarantee based on 300 million Reenova Investment shares he holds.

Reenova’s shares are currently suspended.

Read more: Reenova Investment enters reverse takeover deal with lithium-ion battery maker 3DOM

Pavillon Holdings

Pavillon Holdings said Sunday its subsidiary, Pavillon Financial Leasing, transferred its entire 49 percent stake in Fengchi IOT Management to Tianjin Pavillon Assets Management (TPA) for CNY90 million. 

TPA is a wholly owned subsidiary of Pavillon Holdings, held via Pavillon Business Development (Shanghai), another wholly owned subsidiary, Pavillon Holdings said in a filing to SGX.

“The transfer of shares in IOT is to streamline the group’s structure and operations. IOT is principally engaged in warehouse and logistic management while TPA is engaged in asset management, enterprise management, mergers and acquisitions and financial advisory services,” the filing said.

Pavillon Holdings is engaged in franchising and providing management services, operating through four segments: Food and beverage, leasing of equipment and properties via logistics and warehousing services. Thai Village Restaurant, one subsidiary, operates restaurants. 

 

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