LionGold to change name to Shen Yao Holdings, diversify into fund management

INVESTMENT holding company LionGold Corp said on Monday that it plans to seek shareholders' approval to transfer its domicile from Bermuda to Singapore, change its name, and diversify into fund management and investment.

As fund management in Singapore is a regulated activity, the group intends to commence its operations in the fund-management business by registering with the Monetary Authority of Singapore to operate as a Registered Fund Management Company. Meanwhile, the new investment business will encompass trading and/or investing directly or indirectly in futures, commodities, bonds, notes, swaps, options, forwards, foreign exchange, real-estate investment trusts and funds, the group said.

LionGold also wants to transfer its domicile from Bermuda to Singapore to align its country of registration with its country of listing. Among other things, the re-domiciliation will reduce the group's administrative and compliance costs, the group said. This is because future corporate actions and exercises undertaken by the company would need to comply only with Singapore listing rules, regulations and laws, without the added requirement of compliance with Bermuda laws and regulations.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Football: Serie A at a crossroads as funds bid for new media companyLarge private equity funds have teamed up to bid for a minority stake in a firm holding Serie A broadcasting rights, two sources familiar with the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wing Tai Holdings posts S$16.8 million H2 lossMAINBOARD-LISTED Wing Tai Holdings reported a net loss of S$16.8 million for the second half ended June 30, down from net profit of S$28.4 million in the year-ago period, in its results release on Friday after market close. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Tycoon Kris Wiluan's KS Energy placed under interim judicial management: High CourtSINGAPORE - The High Court has granted OCBC Bank's application to place KS Energy and its principal subsidiary, KS Drilling, under judicial management, after the bank sent letters of demand to the two companies and six other subsidiaries for a US$230.7 million ($313.6 million) term loan and US$5 million bridging loan to KS Drilling.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »