SG briefs: StarHub, MyRepublic, United Hampshire US REIT, Aztech, Broadway Industrial, EcoWise

StarHub retail outletStarHub retail outlet. Photo taken pre-Covid.

Singapore company briefs: StarHub and MyRepublic, United Hampshire US REIT, Aztech Global, Broadway Industrial Group and EcoWise Holdings.

StarHub and MyRepublic

StarHub said Monday it has completed its acquisition of 50.1 percent of MyRepublic Broadband, or “NewCo,” making it an indirect subsidiary of the telco.

Read more: StarHub to acquire 50.1 percent stake in MyRepublic’s Broadband business for up to S$162.8M

United Hampshire US REIT

United Hampshire US REIT said Monday it has granted an extension of time to the purchaser of two self-storage properties to complete its due diligence. The due diligence period has been extended to 28 March, the REIT said in a filing to SGX.

Read more: United Hampshire US REIT to divest two self-storage properties

Broadway Industrial Group

Broadway Industrial Group said Sunday its BIGL Technologies (Shenzhen) resumed about 85 percent of its operations on 19 March, with full resumption expected Monday. 

That was after Shenzhen’s local government said all non-essential manufacturing operations could resume on 19 March for factories and employees located in the Pingshan area, the filing said. 

Last week, Broadway Industrial had said it had suspended operations in line the local government’s directive to stem the spread of the Covid-19 virus. 

Aztech Global

Aztech Global said Monday the Dongguan, China, government has announced manufacturing operations could resume on 21 March, a day earlier than the previously announced stop-work order related to containing the spread of the Covid-19 virus.

The company said its Dongguan plants resumed full operations Monday. 

EcoWise Holdings

EcoWise Holdings said Monday that two of its subsidiaries in Malaysia have received two letters from Al Rajhi’s solicitors for full repayment of MYR78,881 and MYR407,841 within 14 days. The MYR78,881 is in addition to the overdue amount of MYR2.52 million previously disclosed, with the overdue payments to the banks increasing to MYR7.24 million as of 21 March, EcoWise said in a filing to SGX. 

“In the event that the overdue amounts are not paid by the repayment due date, Al Rajhi shall proceed to commence legal action against the subsidiaries,” EcoWise said. “The company has invited proposals from external professional firms to assist the group in negotiations with the banks and in assessing the longer-term viability of various aspects of the group’s business.” 

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