Company Briefs: Keppel Corp

Keppel Corp

Keppel Land chief executive Ang Wee Gee has been conferred the Shanghai Magnolia Award.

The annual award, given out by the city's municipal government, is named after Shanghai's city flower and honours foreigners who have made outstanding contributions to the city's social and economic development, as well as its foreign relations.

"I am honoured to receive the Shanghai Magnolia Award, and want to share the recognition with our team in Keppel Land China," said Mr Ang.

"As one of the first foreign real estate companies to enter Shanghai more than 20 years ago, Keppel Land has been privileged to contribute to Shanghai's urbanisation and strong growth. We are committed to deepen our presence in Shanghai, one of our key cities of focus in China."

Citic Envirotech

Environmental solutions provider Citic Envirotech (CEL) has invested 378 million yuan (S$78 million) in a 60 per cent stake in Citic Environment (Qingyuan) Technology Development, an environmental and utility firm in Qingyuan City, Guangdong province.

The current owner of Citic Qingyuan, an individual shareholder, holds the remaining 40 per cent.

Citic Qingyuan supplies industrial water, steam and electricity, and provides waste-water treatment and recycling services in an industrial park.

The acquisition is in line with CEL's efforts to work with industrial parks "to achieve an efficient and self-sustained economy within the parks", the company said in an exchange filing yesterday.

Mercator Lines

Mercator Lines, which is under judicial management, says its judicial manager has filed an application to wind up the company.

It said its judicial manager has held preliminary discussions with several potential investors to explore transferring the company's listing status and/or restructuring the company; but, while these potential investors have expressed an interest in its listing status, the company has been unable to justify an application for a further extension on its judicial management order.

The hearing date for the winding-up application has been fixed for tomorrow.


A version of this article appeared in the print edition of The Straits Times on September 07, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe