WELLNEO SUGAR (TYO:2117) has formally decided to execute an absorption-type merger with its wholly owned subsidiary, Toyo Sugar Refining, according to a filing with the Tokyo bourse on Friday.
The transaction is expected to take effect on Oct. 1, with WELLNEO SUGAR becoming the surviving entity.
The company counts ITOCHU (TYO:8001) and Sumitomo (TYO:8053) as its major shareholders.
Tianshui Zhongxing Bio-technology (SHE:002772) signed a project investment agreement with Chenggu County government to establish a cordyceps sinensis ecological cultivation facility in Shaanxi, China.The 110-million-yuan project will lease existing industrial park buildings for 15 years with total rent of 94.7 million yuan, according to a Friday filing with the Shenzhen bourse.
Heptamax International (SGX:8A1) secured a contract worth 1.7 million ringgit from a Malaysian manufacturing company, according to a Thursday bourse filing.Shares of the Singaporean industrial solutions company climbed nearly 5% in late afternoon trading on Friday.Under the deal, Heptamax will provide auxiliary work and support services such as equipment supply and rental and site support for the Malaysian firm's robotic painting line project, with payments to be made based on agreed milestones.
KSH (SGX:ER0) is expecting to book a net profit for both the second half of the fiscal year and the full financial year ended March 31, compared with a net loss a year earlier, according to a Thursday filing with the Singapore Exchange.Shares of the construction engineering company were down 1% in Friday trading.The company has attributed this to a steady rebound in its construction business contributions.KSH will release its financial results on or around May 28, the filing said.