Company Briefs: Delfi


Mainboard-listed chocolate confectionery company Delfi announced yesterday that the Singapore Court of Appeal has dismissed an appeal by Nestle to allow its trademark registration for the shape of its famous Kit Kat bars to remain on the trademarks register.

Nestle had previously sued Delfi and its Delfi Singapore unit, claiming that the shape of Delfi's two- and four-finger chocolate wafers, known as Take-it, is similar to the Kit Kat.

In April 2014, Delfi filed a counterclaim to invalidate Nestle's registered trademarks for the shapes. It won in November that same year.

The High Court had declared Nestle's registered shapes invalid, and ordered the registrations to be removed from the trademarks register. Nestle promptly appealed against the High Court decision.

The two firms have been granted leave to give written arguments on Delfi's counterclaim.

Asia Fashion Holdings

Fabric-maker Asia Fashion Holdings yesterday said its unit has entered a memorandum of understanding (MOU) with film company Emei Asia (Beijing) Culture Media.

The MOU will be valid for 60 days, and Asia Fashion's Asia Entertainment (Hong Kong) and Emei will negotiate and agree on terms and conditions regarding a new movie project.

If an agreement is made, Asia Entertainment and Emei will co-operate to invest in, plan, develop, produce and market the project, with a particular focus on the China movie market.

The plan is to produce 10 movies, with production to be completed next year, to be released in 2017 and 2018.

United Food Holdings

United Food Holdings is proposing to reduce the par value of each share to 10 Hong Kong cents, to reorganise its share capital.

The firm yesterday said the move will give it "flexibility to issue new shares... should fund-raising opportunities or requirements arise and facilitate corporate actions which may require the issuance of new shares".

The company's shares have been trading at between 2.5 and 5.5 Singapore cents, below the existing par value per share of HK$2.50 in the three months to Nov 14. If the proposal takes effect, the issued share capital will be reduced to HK$11 million (S$2 million) from HK$275.2 million. A special general meeting will be held for shareholders, and if the proposal is approved, the reorganisation will be on Dec 28.

A version of this article appeared in the print edition of The Straits Times on November 30, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe