SG briefs: No Signboard, Marco Polo Marine, Keong Hong

The No Signboard Seafood outlet at VivoCity mall in Singapore; taken in 2018.The No Signboard Seafood outlet at VivoCity mall in Singapore; taken in 2018.

Singapore company briefs: No Signboard Holdings, Marco Polo Marine and Keong Hong Holdings.

No Signboard Holdings

No Signboard Holdings said Friday it has applied to the Singapore court for the debt from the rescue financing from Gazelle Ventures to be accorded “super priority” status over all preferential debts and unsecured debts in the event the company is wound up.

Read more: Troubled No Signboard enters deal for rescue financing from family office investor

No Signboard Holdings

No Signboard Holdings said Friday it has received a letter from solicitors representing Bryan Lim Soon Fang, who had previously agreed to provide the company an interest-free loan, alleging the troubled chilli crab restauranteur’s termination of the deal was unlawful and that he intends to hold the company to the full terms of the deal.

“While the company’s position remains unchanged as per the termination announcement, it will, work with Mr. Bryan Lim Soon Fang in the interest of coming to an amicable resolution on this matter,” No Signboard said in a filing to SGX.

Marco Polo Marine

Marco Polo Marine said Friday its 49 percent-owned joint venture company Oceanic Crown Offshore Marine Services had completed the acquisition of Taiwan-based PKR Offshore from Kerry TJ Logistics and Posh Investment Holdings (Taiwan).

“The completion of the acquisition of PKRO is expected to increase the group’s presence in Taiwan and will allow Marco Polo Marine to get a step closer to its goal of having 40 percent of its vessels service Taiwan’s offshore windfarm sector by end FY2022,” the company said in a filing to SGX.

Keong Hong Holdings

Keong Hong Holdings warned Thursday it expected to report a net loss for the fiscal first half ended 31 March, mainly due to continued labor shortages and rising business costs due to the Covid-19 pandemic.