Lifebrandz

[CityFarmer]

New thread on this company, which is in a pretty bad shape now...

(not vested, and newly known)

Lifebrandz to close down five F&B operations in Clarke Quay as it struggles to pay staff

SINGAPORE (Mar 13): Lifebrandz has admitted that the company’s subsidiaries comprising Cannery Leisure, Brandz+, Tribeca Leisure and Lux Leisure were unable to pay salaries due to its employees for the month of February 2015, as reported in a Straits Times yesterday.

Lifebrandz also said completed a strategic review of the businesses of the subsidiaries and have decided to cease their F&B operations located in the Clarke Quay area with immediate effect. The affected venues comprise Aquanova, Fenix Room, Mulligan’s Irish Pub (Clarke Quay branch), Playhouse and Hopdog.

In response to a request by Singapore Exchange for more clarity, Lifebrandz said in an after-market filing that the management of the subsidiaries has met with the Ministry of Manpower to address the complaints lodged by the respective employees. However, there is at present no official outcome from the meeting with MOM, it added.
...
http://www.theedgemarkets.com/sg/article...-pay-staff

[mkmk]

http://business.asiaone.com/news/lifebra...care-group

Interestingly, Healthtrends Medical Investments had tried an RTO proposal with Epicentre Holdings, but failed to materialized on 14th July.

[CityFarmer]

SGX Catalist board has became a "shelter" for those troubled companies from Main board?  

Lifebrandz seeks transfer to Catalist

SINGAPORE (Oct 9): Lifebrandz ( Valuation: 0.00, Fundamental: 2.25) says it intends to transfer its listing from the Mainboard to the Catalist Board of the Singapore Exchange.

“The board believes the size of its business, market capitalisation and investor profile of the company better resemble that of the companies on the Catalist.” says Lifebrandz in a filing.

Due to heavy losses, LifeBrandz had recently got out of the bar and restaurant business and acquired four health-related companies from Healthtrends Medical Investments for $100 million.

The company says it will apply to SGX for the proposed transfer in due course.

Meanwhile, shareholders are advised to exercise caution when trading their shares as there is no certainty that the proposed transfer will be undertaken at all.

LifeBrandz last traded at 0.5 cent.
http://www.theedgemarkets.com/sg/article...r-catalist