FINWIRES · TerminalLIVE
FINWIRES

Aspen (Group) to Dispose of 40% Stake in Malaysian Development

By

Aspen (Group) (SGX:1F3) agreed to divest a 40% stake in the Tanjun Bungah Development in Malaysia to joint venture partner, Kerjaya Prospek Ventures, for 80 ringgit, according to a Friday filing with the Singapore Exchange.

The agreement for the share disposal also includes a recovery of 60 million ringgit in shareholder loans owed by the JV company to the subsidiary, AspenVision Tanjung.

The pre-development project in Penang is yet to break ground, with the property developer exiting the business due to challenging macroeconomic conditions that have impacted construction costs and project margins.

Related Articles

Asia

MetaOptics Receives Revised SGX Notice for Planned Nasdaq Listing

MetaOptics (SGX:9MT) received a revised listing and quotation notice from the SGX-ST for up to 121.3 million new shares to support its proposed listing on the Nasdaq exchange via American Depository Shares, according to a Friday bourse filing.Shares of the metalens producer were up over 1% in Monday trading.The revised notice will cover 102.4 million shares for the main ADS offering, up to 15.4 million shares for an overallotment option, and up to 3.5 million shares for the exercise of warrants.

SGX:9MT
Asia

Innoax Wins KRW3.48 Billion Samsung Life Insurance Front-End System Enhancement Contract

South Korean software company Innoax (KOSDAQ:296640) secured a contract from Samsung SDS (KRX:018260) to enhance the Samsung Life Insurance front-core system, according to a Monday filing with the Korean Exchange.The contract, valued at 3.48 billion won, is valid till Dec. 21, 2027.Shares of Innoax fell nearly 1% in recent trade.

KOSDAQ:296640KRX:018260
Asia

Hong Fok Repurchases Shares

Hong Fok (SGX:H30) bought back 176,800 shares in the open market on Friday for around SG$169,289, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has repurchased nearly 5 million shares under its current buyback program.

SGX:H30