Company Briefs: Chip Eng Seng

Chip Eng Seng

Construction and property group Chip Eng Seng is planning to expand its education business into China with an investment of up to 100 million yuan (S$20 million) in Guangzhou Yuanda Information Development, an education software business.

Guangzhou Yuanda's current key offering is online education via mobile applications and websites, for the teaching of mathematics to primary school students.

Chip Eng Seng said yesterday the investment will be through the subscription of new ordinary shares representing up to 35 per cent of the share capital in a special-purpose vehicle, to be incorporated in the Cayman Islands.

The aggregate subscription price is the US dollar equivalent of up to 100 million yuan.

Chip Eng Seng had proposed in March a diversification of its business by venturing into the education sector.


JTC

JTC has awarded the tender for an industrial site at Tampines Industrial Drive (Plot 10) to retail logistics start-up Blu World, which operates under the brand name blu.

The tendered price of $3.2 million was the higher of two bids submitted.

Zoned Business 2, the site has a land area of 4,702.6 sq m and a gross plot ratio of 1.4. It has a tenure of 20 years and a project completion period of 60 months.


Venture Corp

Electronics manufacturer Venture Corporation said late on Thursday night it was not aware of any previously unannounced information about it, its subsidiaries or its associated companies which, if known, might explain the unusual trading in its shares that day.

The company was responding to a Thursday query at 1.57pm from the Singapore Exchange (SGX) after a sudden sell-off saw its shares slide almost 6 per cent. SGX had noted that this was the third query issued to Venture in the past five months.

Venture said that on Aug 3, it released the financial results for its second quarter and first half-year, declared an interim dividend of 20 cents per share with a payment date of Sept 19, and gave notice that its share transfer books and register of members would be closed from Sept 7 to 10 for the preparation of dividend warrants and to determine shareholders' entitlements to the one-time interim dividend.

A version of this article appeared in the print edition of The Straits Times on September 15, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe