Company briefs: Royal Dutch Shell

Royal Dutch Shell is reviewing its holdings in the largest oil field in the United States, for a possible sale that could raise as much as US$10 billion (S$13.3 billion), according to Reuters.

The potential sale could include all of Shell's 105,220ha in the Permian Basin, Reuters reported, citing unidentified sources familiar with the matter. Shell declined to comment. The oil and gas behemoth is under pressure to accelerate carbon emission cuts after a Dutch court ruled last month that the company's climate plans did not go far enough.

BLOOMBERG

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Pan Ocean

Bulk shipping company Pan Ocean is proposing a voluntary delisting from the Singapore Exchange with a conditional cash exit offer of $8.70 per share.

This represents a premium to the shares' last transacted price of $8 on May 10, its last trading day.

The delisting is not a privatisation exercise, Pan Ocean and its South Korean parent company Harim Holdings said in a joint announcement yesterday. The company intends to maintain its primary listing on the Korea Exchange.

THE BUSINESS TIMES

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Lian Beng

The Ong family controlling civil engineering and construction group Lian Beng yesterday announced a mandatory conditional cash offer at 50 cents per share, following a married deal.

The family had, through its investment holding company Ong Sek Chong & Sons, acquired nearly 5.9 million shares or about 1.2 per cent of the total number of issued and paid-up ordinary shares issued by Lian Beng Group. Prior to the market acquisition, Ong Sek Chong & Sons and its concert parties held about 43.6 per cent of voting rights in Lian Beng.

THE BUSINESS TIMES