Company Briefs: SLB Development

SLB Development

The public tranche of property developer SLB Development's initial public offering (IPO) was about 20.6 times subscribed, ballot results yesterday showed.

SLB's offering comprised 238 million new shares at 23 cents apiece. The size of the public tranche was a mere eight million shares. The remaining 230 million shares were placed out.

SLB's list of placees includes some prominent names who were allotted more than 5 per cent of all the new shares available.

They are Super Group founder David Teo, United Envirotech founder Lin Yucheng, Oxley Holdings deputy chief executive Eric Low, SC Global founder Simon Cheong, Mr Toe Teow Heng of ICH Partners, and former stockbroker Han Seng Juan.

SLB is a spin-off of mainboard-listed Lian Beng Group, which will remain as SLB's controlling shareholder post-IPO. The stock will debut on the Catalist board today.

ST Engineering

The electronics arm of ST Engineering has secured a range of smart technology contracts worth a total of $635 million in the first quarter.

These include mobility contracts like a turnkey project for Sanying MRT line in New Taipei City and rail electronics solutions for Bangkok BTS Sky Train.

Contracts aimed at enhancing global connectivity through satellite communications were also signed by the subsidiary, ST Electronics, such as a collaboration with Ghalam, an Airbus Defence and Space joint venture based in Kazakhstan, to develop next-generation ground technologies.

Contracts secured in Internet of Things technologies include a sensor network to enable near real-time management of urban water resources and smart street lighting in cities in New Zealand, Britain, Canada, Israel and the United States, ST Engineering said.

Koh Brothers Group

Construction, property and engineering company Koh Brothers Group yesterday said it will not proceed with earlier plans to set up a beauty business joint venture.

In January last year, Koh Brothers unit K-Skin inked an agreement with Koracle to set up beauty clinics and wellness spas in Singapore and Malaysia. That memorandum of understanding has lapsed as both parties did not enter into a definitive agreement during the exclusivity period, Koh Brothers said.

A version of this article appeared in the print edition of The Straits Times on April 20, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe