Company Briefs: GuocoLand

GuocoLand

GuocoLand said 70 per cent of the retail space at Tanjong Pagar Centre has been taken up.

The development, which is due to be completed in the third quarter of this year, will have its lifestyle space anchored by the world's first Japan Rail Cafe - a tourism-themed cafe operated by Japan's largest rail operator, East Japan Railway Company (JR East).

The cafe will open late this year.

"JR East's decision to open the first Japan Rail Cafe at Tanjong Pagar Centre demonstrates its confidence in the development's high value potential," said GuocoLand.

Tanjong Pagar Centre will also feature other new-to-market brands such as SBCD Tofu House, a Korean restaurant that is opening its first flagship outlet in Singapore; The Little Island, which will serve Penang-style dishes; and Chalong, which will offer Thai fusion grilled bento boxes.

The 64-storey project, which sits above the Tanjong Pagar MRT station, is set to become the tallest building in Singapore at 290m.


Next-Generation Satellite Communications

Next-Generation Satellite Communications yesterday said Hong Kong's High Court has ruled in favour of a court order filed by its wholly-owned subsidiaries Arch Capital and Hillgo Asia against Neo Telemedia.

The court said Neo Telemedia must pay Arch and Hillgo HK$144 million (S$25 million) together with interest in full at judgment rate together with legal costs.

Both Arch and Hillgo in May issued the summons to Neo Telemedia for owing them interest payments under convertible notes due on April 5 last year.


Magnus Energy Group

Magnus Energy Group's wholly-owned subsidiary Meg Management has entered into an agreement with Algae Farm Engineering to build and manage a mircoalgae oil cultivation facility in Selangor, Malaysia.

Meg Management has also inked a patent licence agreement with Mr Kim Jae Hoon, the founder and director of Algae Farm Engineering, for the use of patents on both the cultivation of microalgae and the harvesting machine in the new plant.

Algae Farm Engineering, which has four employees, has grown microalgae, processed the microalgae into bio-oil and proven that the oil runs on a generator, said Magnus Energy.

A version of this article appeared in the print edition of The Straits Times on June 23, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe