Company Briefs: Cacola Furniture International

Cacola Furniture International

Furniture maker Cacola will broaden its product range through a partner scheme with reputable operators in the industry.

It will also expand its distribution network in China while entering other South Asian markets as well as South Korea and Australia.

These decisions were made after a recent business review conducted to enhance shareholder value, it announced yesterday.

"The management has carefully reviewed the performance of the China property and furniture sectors and concluded that investment in the furniture business has proven to be low-risk relative to the potential for returns," the company said in a statement to the Singapore Exchange.

Cacola shares last closed at 0.3 cent on Sept 7.

Lum Chang Holdings

Columba Holdings, a subsidiary of a joint venture between property and construction company Lum Chang and Lao V Serangoon, has sealed an agreement to acquire property investment firm Corwin Holding for around $189.75 million.

The acquisition was undertaken "as part of the group's strategy to expand its business by acquiring a site with redevelopment potential", Lum Chang said in a statement to the Singapore Exchange.

Corwin's primary asset is The Verge, which is valued at $150 million.

Lum Chang shares closed down half a cent or 1.37 per cent at 36 cents yesterday.

Halcyon Agri Corporation

Rubber company Halcyon Agri told shareholders yesterday that the public free float of its shares is expected to be around 10.35 per cent of the total issued shares of the company - a level that meets the free-float requirement - after the allotment and issue of 6.13 million new shares.

Halcyon is offering 0.9333 Halcyon share for each GMG Global share in a recently announced buyout offer.

A version of this article appeared in the print edition of The Straits Times on September 23, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe