Company Briefs : MoneyMax


MoneyMax Financial Services chief financial officer Wee Sung Leng has resigned to pursue other interests. His resignation will be effective tomorrow, the Catalist-listed pawnbroker said in a bourse filing on Monday night.

Mr Wee, 53, was appointed CFO in May last year and oversaw the accounting and finance functions of MoneyMax. The firm said its sponsor, United Overseas Bank, has interviewed Mr Wee and is satisfied that there are no other material reasons for his resignation. The firm is in the process of finding a replacement.

Covering the CFO duties in the interim will be assistant financial controller Lee Su Yi. Ms Lee is a chartered accountant and a member of the Institute of Singapore Chartered Accountants.

Straits Capitol Trust

The trustee of Straits Capitol Trust has entered into a facility agreement with OCBC Bank and Standard Chartered Bank (Singapore) for a four-year £205 million (S$355 million) secured term loan, Singapore Press Holdings (SPH) said in an exchange filing late on Monday night.

SPH wholly owns Times Properties, which is the sole unit holder of Straits Capitol Trust.

The loan will be secured, among other things, by way of property mortgages against the purpose-built student accommodation portfolio comprising 20 assets in the United Kingdom, and a corporate guarantee from SPH.

Proceeds from this facility will be used to partially repay the existing loan from Times Properties to finance the acquisition costs of the UK student accommodation portfolio, said SPH. In April, SPH added £133.7 million worth of assets to that UK portfolio, increasing it by 1,243 beds to 5,059 across 20 assets in 10 cities.

Evia Real Estate/Metro

Privately held Evia Real Estate Management and listed Metro Holdings have secured a $296.3 million four-year green loan to partially finance their 50:50 acquisition of a pair of Grade-A eco-friendly office towers, 7 and 9 Tampines Grande.

This is the first green debt instrument secured by the Singapore-based property developer and institutional fund manager, said Evia in a media statement yesterday. The loan was granted to an Evia-managed investment company and its partner Metro Holdings.

Acquired in April for $395 million, the Tampines project is a 99-year leasehold commercial development with a net lettable area of about 287,596 sq ft.

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