SG briefs: Keppel REIT, King Wan, NutryFarm, Aspen

Keppel REIT’s Ocean Financial CenterKeppel REIT’s Ocean Financial Center. Photo taken pre-Covid.

Singapore company briefs: Keppel REIT, King Wan Corp., NutryFarm International and Aspen (Group) Holdings.

Keppel REIT

Keppel REIT Chairman Penny Goh said there was no intention of restructuring Keppel Group‘s unitholding in Keppel REIT. That was in response to a unitholder’s query on whether there was any plan to delist the REIT as only around 52.5 percent of Keppel REIT units are held by the public, according to the minutes filed to SGX of the REIT’s April annual general meeting (AGM).

“The chairman responded that matters like these are in the hands of unitholders and it depends very much on the prevailing circumstances,” the minutes said.

Aspen (Group) Holdings

Aspen (Group) Holdings said Friday its subsidiary, Aspen Glove (AGSB), had received a letter of demand from Multi Purpose Metal Tech (MPMT) claiming MYR29.35 million allegedly owed for the design, fabrication and installation of glove-dipping lines at the company’s manufacturing facilities. 

“AGSB disputes the Letter of Demand and contends that MPMT’s claim is not due and payable as the contractual works undertaken by MPMT have yet to be fully completed and there are unresolved issues arising from defects. AGSB is currently seeking legal advice on the merits of MPMT’s claim and also assessing counterclaims,” Aspen said in a filing to SGX.

NutryFarm International

NutryFarm International said Friday Corpbond IV has filed an application in Singapore’s High Court to place the company under judicial management and filed a summons to appoint an interim judicial manager pending a hearing of the application. 

The company was served with the papers on 19 May, and the hearing has been set for 23 May, NutryFarm said in a filing to SGX.

NutryFarm said it is reviewing the papers and “will be taking vigorous steps to resist both applications.”

King Wan Corp.

King Wan Corp. said Friday it obtained new mechanical and electrical contracts valued at S$54.7 million in the January-to-March quarter. 

The projects include supplying and installing air conditioning and mechanical ventilation services works for a new residential development and new commercial development on Holland Road, the company said in a filing to SGX.