Company Briefs: Ossia International, BH Global

Ossia International, BH Global

Ossia International has been placed on the Singapore Exchange (SGX) watchlist due to pre-tax losses for the three most recently completed consecutive financial years.

Its average daily market capitalisation has also been less than $40 million over the last six months, it said yesterday.

Ossia is a regional distributor and retailer of luxury fashion apparel, bags, footwear, sporting goods and golf.

BH Global Corporation yesterday said it has also been placed on the watchlist as it failed to meet the minimum trading price entry criteria.

The firm may be removed from the list if the price of its shares averages at least 20 cents over the six months, prior to an SGX review.

BH Global must meet the requirements within 36 months from Dec 5.

If it fails to do so, SGX can delist the firm or suspend trading in its shares.

KSH Holdings

KSH Holdings has disposed of a 52 per cent interest in Development 24, a property development and investment holding company, for $520,000.

The holding was bought by wholly owned subsidiaries of the Lian Beng Group and Heeton Holdings.

A Lian Beng Group unit acquired a 42 per cent stake for $420,000, while a Heeton unit acquired 10 per cent for $100,000.

Yanlord Land

Moody's has downgraded Yanlord Land (HK) Co's backed senior unsecured bond rating to Ba3 from Ba2, with a stable outlook.

The firm is a unit of property developer Yanlord Land.

The ratings agency said the firm's backed senior unsecured bond rating is lower than the Ba2 (stable) rating of Yanlord Land Group because of the "risk of structural and legal subordination".

Moody's said: "This subordination risk reflects the fact that the majority of claims of Yanlord Land Group Limited are at the operating subsidiaries, and have priority over claims at the holding company in a bankruptcy scenario.

"In addition, the holding company lacks significant mitigating factors for structural subordination. As a result, the expected recovery rate for claims at the holding company will be lower."

A version of this article appeared in the print edition of The Straits Times on December 06, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe