Company Briefs: Sino Grandness

Sino Grandness

Mainboard-listed Sino Grandness, a Shenzhen-based manufacturer and distributor of juices, canned fruits and vegetables, has entered an agreement with Wechat Food to distribute its products, including its Garden Fresh line, Grandness canned food and Hao Tian Yuan snacks.

The products will be distributed through a mobile Internet platform developed by Wechat Food.

Sino Grandness chairman and chief executive Huang Yupeng said the company was positioning itself for the e-commerce trend through working with Wechat Food to "connect the supply chain from farms to retail points to the increasing number of consumers who make purchases using mobile phones".

The Trendlines Group

PrimePartners Corporate Finance Holdings has joined Trendlines Group and B Braun Singapore as the third investor in the Trendlines Medical Singapore incubator.

Under the agreement, PrimePartners becomes a minority shareholder in Trendlines Medical Singapore, with a stake of 3.57 per cent.

B Braun holds a 20 per cent stake, with Trendlines Group owning the remainder.

Trendlines Medical Singapore incubates a range of services to nurture and develop Singapore-based entrepreneurs and start-up companies in novel medical devices and technologies.

Tesla Motors

Tesla Motors Inc said its fourth-quarter deliveries fell 9.4 per cent due to short-term production hurdles from the transition to a new autopilot hardware. Deliveries fell to about 22,200 vehicles in the fourth quarter from 24,500 vehicles in the preceding quarter.

Total deliveries for 2016 of 76,230 also fell short of the company's projection of 80,000 to 90,000.

Its shares fell nearly 2 per cent in extended trading.

Tesla said production challenges, which started at the end of October and lasted till early last month, moved vehicle production towards the end of the quarter, resulting in delayed deliveries.

Nearly 2,750 vehicles missed being counted as deliveries in the quarter due to last-minute delays in transport or because of the inability of customer to physically take delivery. REUTERS

A version of this article appeared in the print edition of The Straits Times on January 05, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe