Company briefs: The Trendlines Group

The Trendlines Group

Catalist-listed The Trendlines Group, a medical and agricultural investor, said yesterday that ETView Medical, which it owns 26.46 per cent of, is in an advanced stage of negotiations with an international company.

They plan to sign a definitive agreement soon to sell ETView for a proposed US$16 million (S$21.6 million).

Trendlines said the sale will be based on a structure known as a reverse triangular merger, which will lead to ETView delisting from the Tel Aviv Stock Exchange.

The fair value of the group's holdings in the firm was about US$1.3 million as at March 31. After the sale, Trendlines expects to get net proceeds of about US$3.3 million, and a gain of about US$2 million before tax.

Ascendas Reit

Ascendas Real Estate Investment Trust (A-Reit) has completed the sale of A-Reit Jiashan Logistics Centre near Shanghai, China, for $26 million, the trust's manager said in a filing to the Singapore Exchange.

The sale price is 24 per cent higher than the total development cost of about $20.9 million, and 3 per cent higher than the book value of $25.2 million as at March 31, said the trust manager.

Net proceeds from the sale to Goodman Developments Asia and GCLP Developments No 3 (BVI), are expected to be $23.5 million, after tax and divestment costs.

Secura Group

Security firm Secura Group has reached a deal to buy cyber-security firm Red Sentry and Red Sentry Consultancy for $2.7 million.

Red Sentry is in the business of wholesale of information technology products, including the provision of cyber-security solutions, secure cloud solutions, and enterprise security and compliance solutions.

The purchase will be funded by Secura's internal funds.

"Red Sentry is one of the leading providers of cyber-security solutions services," said Secura Group in a statement filed with the Singapore Exchange.

"The company believes that the cyber-security business of Red Sentry will complement and...boost the group's... cyber-security business, allowing the group to expand its cyber-security offerings and enlarge its market share in Singapore."

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A version of this article appeared in the print edition of The Straits Times on June 18, 2016, with the headline Company briefs: The Trendlines Group. Subscribe