Company briefs: Singapura Finance

Singapura Finance has disposed of its stake in MatchMove PowerBank following its unsuccessful attempt to obtain a digital bank licence in Singapore.

The mainboard-listed lender said on Monday that it sold the stake it had in MatchMove PowerBank - about 10 per cent on a fully-diluted basis - to MatchMove Pay in exchange for a further 0.3 per cent stake in MatchMove Pay from a stake of 1.6 per cent. MatchMove PowerBank was incorporated by MatchMove in June last year to apply for digital bank licences in Singapore and other Asean nations.

THE BUSINESS TIMES

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Mary Chia

Mary Chia Holdings on Monday applied for an extension of time to announce the group's unaudited financial statements for the financial year ended March 31. It is asking for a month's reprieve so it can file its financial statements by June 30 instead of May 30. Explaining its request, the group said that its finance team in Malaysia have had to work from home due to the latest Movement Control Order and have "limited access to the accounting system". Its outlets were also "either closed or disallowed to operate at full capacity", which also contributed to the delay.

THE BUSINESS TIMES

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Authentic Brands Group

Authentic Brands Group, the owner of brands such as Brooks Brothers, Juicy Couture and Forever 21, is exploring going public as soon as this year, say sources with knowledge of the matter. The New York-based company has held discussions with potential advisers about an initial public offering, the sources said, asking not to be identified because the information is private.

The company could seek a valuation of about US$10 billion (S$13.2 billion) when it goes public, the sources said. Its plans are not final and the size of the deal could still change.

BLOOMBERG