Company Briefs: Cogent Holdings

Cogent Holdings

Logistics company Cogent Holdings said its Cogent Container Depot unit signed a licence agreement with JTC yesterday for a three-year use of a 2.5ha plot at Jurong Island.

The firm plans to build a fully-fledged container depot on the plot, and said this will help grow its container depot capabilities and customer base for its Jurong Island chemical logistics facility.

Cogent added that its network of container depot operations in Singapore includes a 5.9ha container depot in Tuas South and a sky depot at the Cogent One Stop Logistics Hub, which are expected to be operational by the second quarter of this year.

Vallianz Holdings

Offshore-support vessel provider Vallianz Holdings said it plans to raise $7 million from the proposed subscription of 350 million new shares to Greatwill Asset Global.

The shares will be offered at two cents per share, a premium of about 11.1 per cent over the volume-weighted average price of 1.8 cents for trades on Jan 13.

The firm hopes to use 50 per cent of the net proceeds to strengthen its strategic alliances or joint ventures, and the other half as working capital.

Shareholders and potential investors are advised to exercise caution when dealing in the firm's securities.

Cosco Corporation (Singapore)

Chinese shipbuilder Cosco Corporation (Singapore) said the restructuring plans of the shipyard businesses of its parent company - China Cosco Shipping Corporation - are progressing.

The Singapore-listed firm suggests continuing the suspension of trading in its shares.

The parent company said it will finalise its plans as soon as possible.

A version of this article appeared in the print edition of The Straits Times on January 27, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe