SG briefs: OCBC, StarHub, VinFast, Grand Banks Yachts

StarHub retail outletStarHub retail outlet. Photo taken pre-Covid.

Singapore company briefs: OCBC, VinFast ,Grand Banks Yachts and StarHub.

OCBC

OCBC will invest more than S$25 million in decarbonization efforts in Singapore, Malaysia and Greater China, with plans to add energy-efficient technology to reduce carbon emissions and to use solar energy systems to increase the renewable energy mix, the Singapore bank said in a press release Wednesday.

The investments are expected to result in the equivalent of removing nearly 10,000 cars from the road within the next four years, OCBC said.

StarHub

StarHub said its data center operations were a growth area with good utilization and occupancy on existing capacity.

“StarHub intended to increase its data centre capacity over time, and more details would be shared at the appropriate time,” the company said, according to minutes of its late April annual general meeting (AGM), which were filed to SGX on Wednesday.

VinFast

Vietnam-based electric vehicle (EV) maker VinFast plans to move its legal and financial headquarters to Singapore as it prepares for a public listing in the U.S., Reuters reported on Tuesday.

In addition, VinFast will start building its sport utility vehicle (SUV) next week, with plans to start construction on a North Carolina factory in coming months, for production to begin in 2024, the Reuters report said.

Grand Banks Yachts

Grand Banks Yachts reported its fiscal third quarter net profit jumped to S$800,000, from S$400,000 in the year-ago period, and compared with a net loss of S$700,000 for the six months ended 31 December after Malaysian manufacturing faced several halts last year due to Covid-related restrictions.

The yacht-maker said it received seven orders in the three months ended 31 March, taking its net order book to a record high.

“Sales were driven by an increased demand for yachting as an alternative to travel amid border restrictions during the pandemic, as well as the group’s digital marketing strategies and online sales initiatives,” Grand Banks Yachts said in a filing to SGX.