Company Briefs: QT Vascular

QT Vascular

Initial results of the first in-human study of the Singapore firm's new Chocolate Heart balloon device for treating vascular complaints showed signs of success, it announced yesterday.

The minimally invasive drug-coated device will treat what are called de novo lesions - a segment of artery-blocking plaque that has not previously been treated with angioplasty or stenting.

The Chocolate Heart study is being conducted at a hospital in the Dominican Republic for up to 30 patients.

Early clinical outcomes suggest the device would be able to offer an effective treatment without the use of a permanent implant, such as a stent, which may take years to dissolve.

QT Vascular, which is based in Singapore with a subsidiary in the United States, designs and makes advanced therapeutic solutions for the minimally invasive treatment of vascular disease.


Renewable Energy Asia Group

The firm is considering legal action against its main contractor, Jiangsu Electric Power Construction No. 3, and its sub-contractors and suppliers for losses suffered from the under-utilisation of the DDT Phase 2 power plants.

It said yesterday that production at the plants has not reached its optimum capacity because of the incomplete installation of photovoltaic cells.

Attempts to resolve the issues have proven futile, resulting in potential losses of income and risk of cancellation of the concession.


OKH Global

An Interpol red notice was issued against the firm's executive chairman and chief executive, Mr Bon Ween Foong.

The notice states, among other things, that Mr Bon is wanted by the Indonesian authorities in connection with a charge of "providing false statement for official document".

Mr Bon believes the red notice arose out of a commercial dispute that started in 2012 between Mr Bon, in his personal capacity, and a former business partner in Indonesia in connection with a company known as PT Alliancz Asia Pacific.

OKH Global said it has no interest in PT Alliancz Asia Pacific and is not involved in the dispute.

Mr Bon denies the charge and his lawyers will contest it in Indonesia.

A version of this article appeared in the print edition of The Straits Times on January 06, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe