Company Briefs: Frasers Logistics and Industrial Trust

Frasers Logistics and Industrial Trust

Frasers Logistics & Industrial Trust's (FLT's) 78 million new units from a private placement began trading yesterday while existing unit holders will get an advance payout.

FLT's trust manager said in a Singapore Exchange filing yesterday that it will declare a distribution for the period from April 1 to July 5 this year for the existing units.

This early payout "is intended to ensure that the distributable income accrued by FLT before the issue of the new units is distributed only in respect of the existing units, and is being proposed as a means to ensure fairness to holders of the existing units", it said.

The next distribution following the advance one will comprise FLT's distributable income for the period from July 6 to Sept 30. FLT's normal semi-annual distributions will then resume.

DBS Bank

DBS or POSB account holders who have bought MSIG's travel insurance plans through the DBS website will now be able to make and receive claims more quickly through an instant electronic payment service.

The service will reduce the time it takes to settle a travel claim by approximately four days. In the past, cheques were typically issued after the insurer verified the claim.

About half the MSIG policies distributed through DBS were bought online last year.

HC Surgical Specialists

A joint-venture company of HC Surgical Specialists, HSN Healthcare, will partner Nex Healthcare and several doctors to manage Nex Healthcare.

Doctors Tan Teck Jack, Chee Boon Ping, Kelvin Goh Tze Chien and Amy Wee will hold 45 per cent of the shares in Nex Healthcare, while HSN will hold 55 per cent for $1.858 million.

On Wednesday, Nex Healthcare entered into a business transfer agreement with Northeast Health International (NHI) to acquire the pharmaceutical business and provision of medical managed services in NHI.

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