Company Briefs: Koufu
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Koufu
Dominus Capital has exercised its right of compulsory acquisition from dissenting shareholders of Koufu at 77 cents in cash per share. In a midday bourse filing yesterday, UOB Bank - acting as the financial adviser to Dominus Capital - said the company will become a wholly owned subsidiary of Dominus Capital following the compulsory acquisition. The date and time of Koufu's subsequent delisting is expected to be announced by the firm in due course. Dominus Capital is an investment firm incorporated last Oct 7 by Koufu's executive chairman and CEO Pang Lim and his wife Ng Hoon Tien, its executive director.
THE BUSINESS TIMES
Volkswagen
Volkswagen Group China said yesterday that it will form joint ventures with Huayou Cobalt and Tsingshan Group to secure nickel and cobalt supplies, in a bid to control electric vehicle (EV) battery costs at a time of surging raw material prices. The three firms have signed memorandums of understanding for two joint ventures - their first in Indonesia - where they will invest their respective advantages and resources for battery raw materials production, Volkswagen said. Volkswagen plans to set up six large battery factories in Europe and is spending billions of euros in an effort to overtake Tesla as the world's top EV seller by 2025.
REUTERS
Keppel DC Reit
Keppel DC Reit has commenced legal proceedings against tenant DXC Technology Services Singapore (DXC) over the latter's partial default of payment in relation to co-location services provided at its data centre in Serangoon North.
The amount being disputed is approximately $14.8 million for the four-year period between April 1, 2021 and March 31, 2025, the real estate investment trust (Reit) manager said in a bourse filing yesterday.
DXC has disputed its liability to make payment.
THE BUSINESS TIMES
