Singapore company briefs: NIO, China Yuanbang Property Holdings, Darco Water Technologies and Soilbuild Construction Group.
Shares of smart electric vehicle maker NIO are set to begin trading on SGX at the market open on Friday.
Soilbuild Construction Group
Soilbuild Construction Group provided notice of three consecutive years of losses on Thursday.
If a company posts losses for the three most-recent financial years and its average daily market capitalization is less than S$40 million for the past six months, SGX will place the issuer on a watch-list, Soilbuild Construction noted.
The company said its latest six-month average daily market capitalization was at S$44.1 million.
Darco Water Technologies
Darco Water Technologies said Thursday its subsidiary Wuhan Kaidi Water Services (WHKD) has issued a letter of demand against Shanghai Huayun Environmental Technology (SHHY) for unpaid amounts of CNY2.77 million, or around S$573,086, for equipment supply and technical integration services for two projects.
WHKD has demanded SHHY repay the amounts within five days of receipt of the letter, with WHKD communicating closely with SHHY on the repayment before considering next steps, which could include beginning legal proceedings, Darco Water said in a filing to SGX.
Darco Water said the maximum further impairment amount for the SHHY’s outstanding amount would be around CNY1.33 million, or around S$274,741, which would have a material impact on financial performance.
China Yuanbang Property Holdings
China Yuanbang Property Holdings said Thursday the Chinese government’s measures to stem the spread of the Covid-19 virus shuttered the company’s construction sites and sales centers for three projects for April and May.
“The suspension of business has negatively affected the group’s sales and delayed handover of property units,” the company said in a filing to SGX. “In tandem with the Chinese government gradual lifting of those preventive measures, the group is progressively reopening the construction sites and sales centers of those affected projects.”