Singapore company briefs: Keppel Corp., iFAST Corp., LHN Group and Frasers Hospitality Trust.
IFAST Corp. said Friday its consortium was not among the five successful applicants for a digital bank license in Malaysia.
The wealth management platform said it would focus on its recently completed acquisition of a U.K.-based licensed bank, which has been renamed iFAST Global Bank.
“The group will focus on using iFAST Global Bank as a digital bank to meet the overall needs of its Fintech Ecosystem. This will also help the group to accelerate the growth of its overall wealth management business and take a significant step towards building a truly global business model,” iFAST said in a filing to SGX.
Frasers Hospitality Trust
Frasers Hospitality Trust said Friday it has completed the divestment of the Sofitel Sydney Wentworth, located in Sydney, Australia, to an unrelated third party.
Keppel Corp. said Friday its indirect subsidiary FELS Offshore has divested its entire 20 percent stake in Mod Prefab to Woh Hup, which holds the remaining 80 percent of the joint venture, for S$209,740.
LHN Group said Friday it has completed the acquisition of the River Valley Property, located at 298 River Valley Road in Singapore, for S$8.5 million, with funding from internal sources and bank borrowings.
The company has previously said it plans to operate the property as a co-living space under the brand COLIWOO. UOB sold the property as a mortgagee, LHN has previously said in a filing to SGX.