Company Briefs: Secura Group

Secura Group

A unit of security solutions provider Secura has been awarded a $3.15 million contract by a leading global semiconductor company.

Soverus will provide security services for two of the company's purpose-built facilities in Singapore for two years.

Secura chief executive Paul Lim said it is the third major contract won in less than six months and its first contract in the semiconductor industry.

The latest deal follows a $4.9 million contract secured from the Australian International School and a $6.7 million contract with SBS Transit DTL.

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Sinocloud Group

IT services provider Sinocloud Group filed an independent auditor's report with the Singapore Exchange yesterday.

The report by RT LLP said Sinocloud Group's net loss position, dependence on borrowings and realisation of cash flows from current trade and receivables cast doubt on the firm's "ability to continue as a going concern".

It noted that Sinocloud incurred a net loss of $42.2 million in the year ended March 31, and had cash amounting to $1.1 million, while liabilities came to $93.3 million.

The auditor noted that "the management has been taking efforts to improve the group's financial position".


IHH Healthcare

Private hospital operator IHH Healthcare Group told Bursa Malaysia yesterday that it is not close to concluding any negotiations, due diligence or transactions in India.

Its response followed a query related to an article in The Edge Financial Daily on Monday stating that IHH Healthcare was in an advanced stage of negotiations and due diligence to buy a controlling stake in Fortis Healthcare and SRL Diagnostics, two healthcare companies in India.

A version of this article appeared in the print edition of The Straits Times on June 23, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe