SG briefs: Federal Intl, Forise, Kitchen Culture, Oceanus

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Singapore company briefs: Federal International (2000), Forise International, Kitchen Culture and Oceanus Group.

Federal International (2000)

Federal International (2000) has entered a memorandum of understanding (MOU) with The Green Solutions Corp. (TGS) of Vietnam to develop TSG’s green hydrogen manufacturing plant in the country, the Singapore-listed company said in a filing to SGX. 

The plant will produce green hydrogen and green ammonia using sustainable wind and solar energy, the filing said. 

In addition, the two companies will explore opportunities to export green hydrogen and green ammonia to Southeast Asian countries, the filing said. 

Read Federal International (2000)’s filing to SGX.

Forise International 

Forise International has entered a joint venture with Raffles Emi for providing digital payment services in Singapore, Asia Pacific and potentially other regions, the company said in a filing to SGX Tuesday.

“Market demand for digital payment services will increase rapidly in the future and that the joint venture will enable the group to expand its involvement in the digital payment solution services business,” Forise said. “The joint venture will also allow the group to leverage on Remi’s business network, resources, expertise and know-how.”

Read Forise International’s filing to SGX.

Kitchen Culture

Kitchen Culture said Tuesday the Singapore Court has dismissed its application to place its wholly owned subsidiary KHL Marketing Asia-Pacific (KHLM) under judicial management, ruling there was insufficient evidence an order would achieve appropriate purposes under the relevant laws.

In addition, the court ordered separately that hearing on the winding-up application filed by Kim Hup Lee & Co. against KHLM would be further adjourned to 4 April, assuming Kitchen Culture doesn’t meet the conditions to appeal the judicial management decision, the company said in a filing to SGX.

Oceanus Group

Oceanus Group said Tuesday it has entered into proposed placement agreements to issue a total of 1.27 billion new shares at S$0.023 each to PY Opulence Investment, Golden Summit International and Alacrity Investment Group to raise S$29.22 million. 

In addition, Oceanus Group entered a token subscription agreement with HydraX Digital Assets and Alacrity Investment to issue a 4 percent convertible bond in the form of digital tokens for up to S$8.15 million, the company said in a filing to SGX. Alacrity Investment, an investment arm of an Indonesian conglomerate, is an existing substantial shareholder of Oceanus, the filing said.

Read Oceanus Group’s filing to SGX.

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