Company Briefs: Mapletree Investments; Viking Offshore and Marine

Mapletree Investments

Mapletree Investments is acquiring an eight-storey office building comprising approximately 210,000 sq ft of net internal area in Dublin from Irish real estate developer Marlet Property Group.

Located in the heart of Dublin's Silicon Docklands, the property also known as The Sorting Office is due for practical completion in November. The area it is part of is a business district, attracting a diverse mix of tenants in the technology, financial, legal and professional services sectors. It is minutes from the Busaras Central Station, Spencer Dock LUAS Station and Pearse Street Dublin Area Rapid Transit station.

Situated on a site area of approximately 60,278 sq ft, the property boasts large and regular floor plates with flexible design, allowing for vertical and horizontal divisions. It will enable tenants to work and socialise across collaboration spaces and terrace areas.

The group said that the acquisition is consistent with its strategy of diversifying earnings in scalable and developed markets.

Mr Michael Smith, regional chief executive officer, Europe and United States, Mapletree Investments, said: "We are excited about this opportunity as we have been exploring the Dublin office market for a few years, attracted by the robust tenant demand that has been driven by the city's strong focus on information and communication technology."

Viking Offshore and Marine

Viking Offshore and Marine (VOM) called for a trading halt at 10.32am yesterday.

The offshore and marine system solutions provider previously lifted a trading halt on the evening of May 7, and simultaneously announced a delay in the court hearing of winding up proceedings made against the group by an individual Wang Qi. The hearing has been adjourned to June 14 from May 31.

Ms Wang had previously extended an $800,000 loan to VOM, and on March 8 sent a statutory demand through her solicitors to VOM and its wholly owned subsidiary, Viking Asset Management, demanding payment for the loan.

She is the wife of Mr Zhang Yi, owner of China Stem Cell Group Shanghai Biotech. Both of them had initially made a verbal agreement with VOM regarding the loan on March 16, according to VOM. They made further demands thereafter, which the company said it could not "reasonably accept".

VOM shares were unchanged at $0.004 prior to the trading halt.

A version of this article appeared in the print edition of The Straits Times on June 12, 2019, with the headline 'Company Briefs'. Subscribe