Company Briefs: CapitaLand


Ms Kng Hwee Tin, head of OCBC's China unit, has resigned after more than three decades with the bank to join CapitaLand as chief executive for finance and corporate services in China, effective on Oct 1.

In her new role, she will be based in Shanghai and report to Mr Andrew Lim, group chief financial officer, as well as Mr Lucas Loh, president of CapitaLand (China).

Ms Kng will oversee the finance, treasury, corporate finance and tax, communications, general procurement and legal functions for the China business. She will also be a member of the CapitaLand executive committee to assist in other group strategic projects.

Before joining CapitaLand, Ms Kng had been executive director and chief executive of OCBC Bank (China) since December 2012, and was responsible for the bank's growth strategy in China.

CapitaLand launched Raffles City Chongqing mall in China last Friday. The opening weekend saw over 900,000 visitors. The 235,000 sq m mall, with 95 per cent committed occupancy, is the first component of the integrated Raffles City development that spans 1.12 million sq m.

Olam International

Olam International, together with its wholly owned subsidiary Olam Treasury, has secured a US$525 million (S$724 million) revolving credit facility (RCF) linked to meeting sustainability key performance indicators (KPIs).

ANZ, BNS and Rabobank have been appointed senior mandated lead arrangers, while six banks - Banco Bilbao Vizcaya Argentaria, DBS Bank, Santander, Barclays Bank, HSBC and Standard Chartered Bank - have been appointed mandated lead arrangers. Rabobank and HSBC have been appointed the sustainability coordinator and facility agent respectively.

The facility consists of three tranches: a one-year RCF of US$315 million, a two-year RCF of US$105 million, and a three-year RCF of US$105 million.

Under the facility, Olam has identified specific KPIs that are aligned with the three purpose outcomes of the company's sustainability strategy. They include prosperous farmers and food systems, thriving communities, and the regeneration of the living world.

The interest margin on the facility is linked to the achievement of the KPI improvement targets, which will be tracked and reported by Olam's corporate responsibility and sustainability team. Proceeds from the facility will be applied towards the refinancing of existing loans of Olam and its subsidiaries.

A version of this article appeared in the print edition of The Straits Times on September 11, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe