Accounting and Corporate Regulatory Authority

Kitchen Culture: Business Update on Outstanding Legacy Issues and Strategy to Move Forward

Retrieved on: 
Monday, August 7, 2023

The Company has also not filed its annual return with ACRA within the timelines required under the Companies Act;

Key Points: 
  • The Company has also not filed its annual return with ACRA within the timelines required under the Companies Act;
    f. a previous internal audit conducted by Baker Tilly Consultancy (Singapore) Pte.
  • "The Company is committed to addressing the significant challenges and legacy issues inherited from the previous Board in a positive and transparent manner, with full accountability to our shareholders.
  • We look forward to working closely with all stakeholders to ensure a successful future for the Company", added Mdm Hao.
  • This media release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

Highlights - FISC Mission to Singapore - Subcommittee on Tax Matters

Retrieved on: 
Thursday, July 20, 2023

FISC Mission to Singapore

Key Points: 
  • FISC Mission to Singapore
    Members of the FISC Subcommittee will travel to Singapore from 25 to 27 July 2023 in order to discuss developments in the area of international taxation and the fight against tax avoidance and evasion.
  • Meetings with the Chief Executives of the Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority (IRA), as well as stakeholders from professional associations and academia will also take place.
  • The discussions will notably focus on the implementation of the OECD/G20 Inclusive Framework agreement on an international tax reform and Singapore's efforts to combat tax evasion and avoidance.
  • The attractiveness of Singapore for MNEs or very rich individuals will also be discussed, together with Singapore's readiness to implement or improve standards on good tax governance.

Kitchen Culture Says Notices Filed to Correct Attempts By Director to Change ACRA Records of 5 Fellow Directors, Company Secretary and Address After Purported EGM That Has Been Deemed Invalid

Retrieved on: 
Monday, December 5, 2022

Alternatively, they can issue fresh and compliant notices and other documents to call for a fresh EGM.

Key Points: 
  • Alternatively, they can issue fresh and compliant notices and other documents to call for a fresh EGM.
  • Many shareholders have also said they had not received the notices calling for the meeting.
  • However, Kitchen Culture has taken swift action to file corrective notices with ACRA.
  • Shares of the SGX Catalist-listed provider of kitchen and bathroom solutions have been suspended from trading since July 2021.

OOWAY GROUP Clarifies Factual Inaccuracy in Kitchen Culture's 14 October 2022 Announcement to SGXNet

Retrieved on: 
Thursday, October 20, 2022

SINGAPORE, Oct 20, 2022 - (ACN Newswire) - OOWAY Group Ltd today announced that it wishes to clarify the factual inaccuracy in Kitchen Culture Holdings Limited's 14 October 2022 announcement ("Announcement") to SGXNet with regard to an interest-free loan of S$1.5 million (Unconditional Interest-Free Loan) that was offered to Kitchen Culture by OOWAY Group as a gesture to assist the Company in alleviating its dire financial situation.

Key Points: 
  • SINGAPORE, Oct 20, 2022 - (ACN Newswire) - OOWAY Group Ltd today announced that it wishes to clarify the factual inaccuracy in Kitchen Culture Holdings Limited's 14 October 2022 announcement ("Announcement") to SGXNet with regard to an interest-free loan of S$1.5 million (Unconditional Interest-Free Loan) that was offered to Kitchen Culture by OOWAY Group as a gesture to assist the Company in alleviating its dire financial situation.
  • OOWAY Group would like to clarify that the final version of the Loan dated 8 June 2022 and offered to the Company, did not come with any pre-conditions, and that Kitchen Culture's Announcement to SGXNet was a factual inaccuracy.
  • From May 2022 to early June 2022, there were several rounds of discussions on the loan amount and conditions tied to the loan.
  • The final version of the Term Sheet dated 8 June 2022 was signed by OOWAY Group and then circulated to Kitchen Culture's Board of Directors on the same date.

OOWAY Group Seeks to Appoint New Board to Turn Around Kitchen Culture

Retrieved on: 
Wednesday, October 12, 2022

- Single largest shareholder, OOWAY Group with 21.19% of the issued share capital of Kitchen Culture, together with 7 other minority shareholders seeks to convene EGM to appoint new Board

Key Points: 
  • - Single largest shareholder, OOWAY Group with 21.19% of the issued share capital of Kitchen Culture, together with 7 other minority shareholders seeks to convene EGM to appoint new Board
    - OOWAY Group sees change of Board as the only way for Kitchen Culture shareholders to unlock value of the 27.65% stake in OOWAY Technology Pte.
  • The upcoming EGM seeks to remove 5 of the current Kitchen Culture's Board of Directors and appoint 5 new members to the Board.
  • Reference SGXNET 30 Sep 2022: https://tinyurl.com/mr5pxncr
    OOWAY Group emphasises that without a change in the current Kitchen Culture board, the value of Kitchen Culture's 27.65% stake in OOWAY Technology Pte Ltd (which is its most valuable asset) would be unrealised and ultimately wasted.
  • In August 2020, Kitchen Culture entered into a sale and purchase agreement and a shareholder's agreement with OOWAY Group to acquire a 30% equity stake in OOWAY Technology Pte.

NEW HOLA is officially established,South America will become a new starting point for globalization

Retrieved on: 
Tuesday, July 19, 2022

At that time, NEW HOLA will act as a group company for the management and operation of all HOLA global businesses.

Key Points: 
  • At that time, NEW HOLA will act as a group company for the management and operation of all HOLA global businesses.
  • Today, global cross-border e-commerce is entering a period of digital transformation of the whole process.
  • Alexa, executive director of NEW HOLA, said that actively taking social responsibilities is a must-have professional spirit for every entrepreneur.
  • In the future planning of NEW HOLA, Hola will set up multiple offices around the world.

Sasseur REIT Wins Highly Esteemed Corporate Excellence and Resilience Award at Singapore Corporate Awards and Two Awards at The Global Good Governance Awards

Retrieved on: 
Monday, November 22, 2021

Ms Cecilia Tan, CEO of SAMPL, said, "We are extremely delighted and gratified to receive this highly esteemed Singapore Corporate Awards.

Key Points: 
  • Ms Cecilia Tan, CEO of SAMPL, said, "We are extremely delighted and gratified to receive this highly esteemed Singapore Corporate Awards.
  • This has been a bumper year for Sasseur REIT where to-date the REIT has received four awards in recognition of its excellence in corporate governance and investor relations efforts, and witnessed marked improvement in its rankings in two well-known corporate governance indices.
  • Companies are screened based on several metrics, including Corporate Governance, Financial Resilience, Strategic and Operational Excellence and People Management.
  • Sasseur REIT was recognised for its high standards of corporate governance, despite being a relatively young REIT on the SGX.

Asian Lubricant Manufacturers Union Announces Name Change

Retrieved on: 
Friday, January 22, 2021

The Asian Lubricant Manufacturers Union (ALMU), a Singapore-based organisation that represents the interests of a broad range of lubricant industry businesses throughout Asia, today announced a new corporate name following approval by The Accounting and Corporate Regulatory Authority (ACRA).

Key Points: 
  • The Asian Lubricant Manufacturers Union (ALMU), a Singapore-based organisation that represents the interests of a broad range of lubricant industry businesses throughout Asia, today announced a new corporate name following approval by The Accounting and Corporate Regulatory Authority (ACRA).
  • ALMU will now be known as the Asian Lubricants Industry Association or ALIA.
  • The new name reflects the diverse membership of the trade association and more closely aligns with ALIAs ambition to become the trusted voice of the wider Asian lubricants industry.
  • Over the past three years, we have developed the platform for a united voice for the Asian lubricants industry.