Company Briefs: Frasers Property

Frasers Property

Frasers Property said yesterday that it "has been in discussions with certain parties who have expressed interest" in its Frasers Tower office property, located at 182 Cecil Street.

It said that there is no certainty that any transaction would result from such discussions, according to a bourse filing in response to Bloomberg queries.

Frasers Property also added that it continually reviews opportunities to enhance shareholder value.

"In the course of such review, we may from time to time enter into discussions with parties for potential investments in or divestment of our interest in our projects/assets," it said.


MeGroup

Car dealer MeGroup's Malaysia-based subsidiary has renewed its Mazda 4S dealership with Bermaz Motor Trading for a further period of three years until March 31, 2022.

The Mazda 4S dealership is located in Jalan Sungai Besi, Kuala Lumpur, the Catalist-listed company said in yesterday's filing on the Singapore Exchange.

Mr Wong Cheong Chee, executive chairman and chief executive of MeGroup, said that in addition to upgrading its 3S dealerships to 4S dealerships, the group is also looking at opportunities to expand its dealership business, by either gaining new dealerships in new territories or taking over those already existing.


Anchor Resources

Singapore-listed Malaysian gold mine operator Anchor Resources has restructured $3.31 million of 10 per cent guaranteed bonds due on Wednesday, giving the company an extra one month to a year to repay the debt.

The April 2019 bonds are held by investor Tan Ong Huat.

The maturity date for half of the April 2019 bonds has been extended to May 3, 2019, when the company will redeem them for $1.69 million, being the full $1.655 million principal plus accrued and unpaid interest.

The remaining half of the April 2019 bonds, which are worth $1.655 million in principal amount, will be exchanged for $1.903 million of new 10 per cent bonds due April 2020.

The swap represents a 15 per cent increase in the principal amount, and there will be no cash proceeds for Anchor Resources as a result.

A version of this article appeared in the print edition of The Straits Times on April 05, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe