Company Briefs: Hatten Land

Hatten Land subsidiary Hatten Edge has inked an agreement with a new business partner that will allow the addition of up to 550 cryptocurrency mining rigs to its crypto-mining facilities in Melaka.

Both firms will share the net proceeds of the cryptocurrencies that are mined.

Hatten Land therefore expects the latest agreement to contribute positively to its net assets and financial performance for the financial year ending June 30.

THE BUSINESS TIMES

LHN Logistics has lodged a preliminary offer document as parent company LHN seeks its spin-off and listing on the Catalist board.

Gross proceeds raised from the placement will go towards the group's plans to increase its scale of operations by growing its transport fleet. The firm intends to buy at least 20 additional prime movers and at least 70 trailers to better support customers who require cross-border transport services between Singapore and Malaysia.

THE BUSINESS TIMES

CNOOC, China's top offshore oil and gas producer, plans to raise about 35 billion yuan (S$7.5 billion) this month in what will likely be China's 10th-biggest listing, to fund oil and gas extraction as Beijing prioritises energy security amid rising geopolitical tensions.

State-owned CNOOC, which is blacklisted by Washington, said in a prospectus it plans to sell 2.6 billion shares on April 12 and list thereafter on the Shanghai Stock Exchange.

REUTERS