Company Briefs: Neo Group Limited

Neo Group Limited

Food and restaurant firm Neo Group has received agreements to extend exclusive periods in relation to two proposed acquisitions.

One extended the exclusive period related to Lavish Dine Catering from June 30 to Dec 31. This was due to ongoing negotiations with the vendors, which include Lavish Dine Catering, La Bonnie Pastries and Lin Chih-Fen, Chew Kim Hong, Ling Boon Yew, Wong Yuk Yan and Neo Bee Hoe.

It also extended the exclusive period in relation to its proposed acquisition of Asia Farm F&B from June 30 to March 31, 2018 for the same reasons. Neo Group disclosed the extensions in two Singapore Exchange filings.

Dragon Group International

Electronics company Dragon Group International has signed a memorandum of understanding with Nanjing Argos Asset Management (Group), a subsidiary of Hong Kong-based Argos Enterprise.

Under the agreement, the Argos unit has the exclusive right for two months to consider investing in two projects in Nanjing which Dragon Group International is undertaking, the firm announced yesterday.

These are the building of the largest full-scale replica of a wooden Zheng He treasure boat and the development and management of 8ha of land along the Yangtze river bank, where construction of the treasure boat is ongoing.

Wilmar International

Commodity firm Wilmar has established a subsidiary, Emma Shipping Co, to charter vessels. Emma Shipping has an issued and paid-up share capital of US$1 (S$1.38).

Wilmar also announced yesterday that it has acquired a joint venture company through its unit Siteki Investments.

Siteki acquired 50 per cent of Vinh Phat Wilmar Rice Corporation for 120.3 billion Vietnamese dong (S$7.4 million).

Wilmar also announced a change in the name of its 67 per cent owned subsidiary, from PT Jaya Sugar Indonesia to PT Jaya Manis Indonesia.

A version of this article appeared in the print edition of The Straits Times on June 24, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe