Company Briefs: Fabchem China

Fabchem China

Explosives maker Fabchem China warned shareholders yesterday that its second-quarter numbers are expected to be "significantly lower", due mainly to the closure of port activity at Tianjin and a softening Chinese market.

On Aug 12, a series of explosions at the port city of Tianjin killed about 145 people.

While Fabchem China's unit, Shandong Yinguang Technology, does not export through Tianjin, the other ports it uses have been temporarily closed in the wake of the disaster. This has affected the docking of customers' vessels. Shipments to Australia have been affected, for instance.

This also puts a dent in the firm's production schedule, as the unit may not have enough warehouse space to store products for export.

The challenging market conditions for ammonium nitrate will also affect another unit Hebei Yinguang Chemical, which is expected to incur an operating loss.


Integrated private healthcare provider RafflesMedicalGroup has opened a centre in Osaka. It is the group's first entry into operating clinical facilities in Japan, it said in a statement.

RafflesMedical Osaka is a 5,400 sq ft centre that offers family medicine, travel medicine, dermatology and aesthetics, traditional Chinese medicine and health screening services to local patients as well as tourists.

The firm said the area has a sizeable working population, and is popular for shopping, leisure and recreation.

YuuZoo Corp

Social e-commerce and payments company YuuZoo Corp has secured a US$30 million (S$43 million) funding facility, it said yesterday.

GEM Global Yield Fund, a New York-based private alternative investment group, will provide the firm up to US$30 million over the next three years.

The funds come in the form of a capital commitment. YuuZoo can draw funds by issuing shares to GEM Global.

The price per share will be at a 10 per cent discount on the closing price of YuuZoo shares on the date that funds are drawn or requested by the firm.

YuuZoo said it "has no obligation to draw on the funds on offer and will control the timing and maximum amount of any drawdown".

This is subject to a requirement that GEM Global does not hold more than 19.9 per cent of YuuZoo shares on issue.

A version of this article appeared in the print edition of The Straits Times on September 08, 2015, with the headline 'Company Briefs: Fabchem China'. Print Edition | Subscribe