Company Briefs: CapitaLand

CapitaLand

CapitaLand has opened a co-working facility in the central business district with a joint venture partner. Called the Collective Works Capital Tower, the 22,000 sq ft space occupies the 12th floor of the 52-storey Capital Tower. It is run in partnership with co-working space operator Collective Works.

Users of the new space include global venture capital firm 500 Startups as well as marketing, computer programming and data analytics firms. CapitaLand said yesterday it is in discussions with more than 60 companies looking to join Collective Works Capital Tower over the next few months.


Mary Chia Holdings

New charges have been brought against Mary Chia chief executive Ho Yow Ping, following previous charges for breaches of the Employment of Foreign Manpower Act.

The fresh charges against Ms Ho are related to breaches of the Massage Establishment Act. Ms Ho has been charged in her capacity as director of two wholly-owned subsidiaries of the company, Spa Menu and Mary Chia Beauty and Slimming Specialist. These charges relate to employment of staff without prior approval and failure to maintain proper employee records.

A further charge was brought against Spa Menu under the Employment of Foreign Manpower Act for failure to obtain a valid work pass for a foreign employee. Spa Menu and Mary Chia Beauty and Slimming Specialist continue to operate as usual, the company said in an exchange filing yesterday.


Japfa

Global investment firm KKR will invest approximately US$81.2 million (S$109.4 million) for a 10.44 per cent stake in PT Japfa Comfeed Indonesia, a subsidiary of agri-food company Japfa. PT Japfa will place out 750 million new shares to KKR via a private placement at approximately US$52.9 million. Japfa will also sell 441.7 million shares in PT Japfa to KKR for an estimated US$28.3 million.

"We see a great opportunity for Indonesia's poultry market given the country's rising middle class, favourable urbanisation trends and increasing protein consumption," said Mr Ming Lu, co-head of Asia Private Equity at KKR.

The private placement and share sale transactions are part of an overall strategy to introduce fresh equity funding to strengthen the balance sheet of the group, Japfa said in a statement yesterday.

A version of this article appeared in the print edition of The Straits Times on June 09, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe