BH Global Corporation&rsquo s subsidiary Sea Forrest International (SFI) has entered into an agreement with two other entities to prepare itself for a spin-off listing, which was first announced in April.

 

SFI has submitted a public filing for the spin-off, which involves restructuring to list STFS as its wholly-owned subsidiary.

 

The agreements between SFI, SFTS and SFP are for the purposes of assigning the benefit of a loan amount of $5 million originally owned from SFP to Beng Hui Marine Electrical settlement conducted by way of issuance of 4 million new ordinary shares in SFTS at a price of $1.25 and the abovementioned settlement being subject to conditions of approval for the potential spin-off.

 

The settlement has a long stop date, being one year from the date of agreement, of June 1, 2026.

 

BH Global is a Singapore-based technology company involved in the Marine and Offshore, Green LED, Integrated Engineering, Cyber Security, and Infrared and Thermal Sensing Technology industry.

 

Its subsidiary, Sea Forest International, is involved in engineering design, consultancy services, and marine solutions.

 

A DORMANT subsidiary of light equipment maker BH Global Corporation is being wound up, and the liquidation is expected to impact the group' s earnings for the financial year ending Dec 31.

 

Still, mainboard-listed BH Global said it expects to remain profitable for the financial year.

 

The loss on liquidation, of about S$4.5 million, does not affect the operations and cashflow of the group, it added.

 

AUG 28, 2020 06:45 PM

MAINBOARD-LISTED BH Global Corporation has applied to exit the Singapore Exchange' s financial watch list, the company announced on Friday after the market close.

It had earlier satisfied one of two conditions for exiting the watch list - that of recording consolidated pre-tax profit for the most recently completed financial year. This earned it an extension of time to fulfil the other condition, which is that of achieving an average daily market capitalisation of at least S$40 million over the preceding six months.

The company has until June 4, 2021 to successfully exit the watch list.

BH Global said it would update shareholders on the results of its application, and advised caution in dealing in its shares. " Shareholders and potential investors should note that there is no certainty or assurance as to the outcome of the application to exit the watch list," it added. 

The company' s shares closed down 1.5 Singapore cents or 2.38 per cent at 61.5 Singapore cents on Friday before the news.

Acc. Trade Volume	Reference price	Reference volume	Opening Price	Highest Price	Lowest Price	Comment
745	-	-	10.05	10.05	10.05

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