This article was originally published on Sunday, 24 February 2019 at 16:33 SGT; it has since been updated to add CapitaLand, Frasers Property and Raffles Medical Group.
These are Singapore companies which may be in focus on Monday, 25 February 2019:
Contract manufacturer and supply chain manager Venture Corp. reported on Friday its fourth quarter net profit fell 24.7 percent on-year to S$107.7 million, but beat some analysts forecasts.
CapitaLand said on Monday the eighth skyscraper at Raffles City Chongqing has been structurally completed, including the addition of the world’s highest skybridge, called The Crystal, at 250 meters high, linking six of the development’s eight towers. The megastructure, which includes a five-storey mall, is expected to open in the second half of the year, CapitaLand said in a filing to SGX before the market open on Monday.
“Upon Raffles City Chongqing’s structural completion, we are now focusing on the interior fitout works, including transplanting trees to enliven the Crystal sky bridge, which will feature the tallest observation deck across Western China,” Lucas Loh, president (China and investment management, for CapitaLand, said in the statement.
The three residential towers have a total 772 units and are 72 percent sold, the filing said. The project was designed by architect Moshe Safdie.
Halcyon Agri said on Friday that its subsidiary HeveaConnect agreed to place shares to ITOCHU Corp., one of Japan’s largest trading companies. The terms of the deal were still being finalized, Halcyon Agri said in a filing to SGX after the market close on Friday.
The deal will lead to ITOCHU joining DBS as a joint venture partner in HeveaConnect, it said.
In addition, ITOCHU subsidiary PT Aneka Bumi Pratama entered a memorandum of understanding with HeveaConnect to adopt HEVEAPRO standards on quality, responsibility and sustainability for rubber production, the filing said.
Frasers Property said on Monday its Thailand-listed indirect associated company Frasers Property (Thailand) plans to make a conditional voluntary tender offer to acquire up to 100 percent of the shares of another Thailand-listed indirect associated company, Golden Land Property Development.
The proposed offer is priced at 8.50 Thai baht (37 Singapore cents of 27 U.S. cents) a share, for a total of up to 19.75 billion baht (S$852.26 million or US$631.41 million), Frasers Property (Thailand) said in a separate filing to the Thai stock exchange.
The deal is expected to expand Frasers Property (Thailand) into a real-estate “platform” of services across logistics & industrial, residential, commercial and hospitality properties, it said in a Thai stock exchange filing.
Raffles Medical Group reported on Monday its full-year net profit was up just 0.4 percent on-year at S$71.06 million amid higher taxes and depreciation expenses.
Chip Eng Seng
Chip Eng Seng reported on Friday its fourth quarter net profit rose 102.4 percent on-year to S$26.55 million amid better property development margins.
EC World REIT
EC World REIT reported on Friday its fourth quarter net property income rose 16.1 percent on-year to S$20.84 million on the acquisition of the Wuhan Meiluote property in April 2018.
Lippo Malls Indonesia Retail Trust
Lippo Malls Indonesia Retail Trust reported on Friday its net property income for the fourth quarter fell 14.5 percent on-year to S$38.40 million as the rupiah weakened and on lower contributions from seven retail spaces after master leases expired.
Pawnbroker Maxi-Cash reported on Friday its 2018 net profit fell 22 percent on-year to S$10.38 million amid higher expenses.
Interra Resoures said on Friday that its joint venture Goldpetrol Joint Operating Co. completed development well CHK 1214 in the Chauk oil field in Myanmar as an oil producer, covering twenty reservoirs for 34 barrels of oil a day.
It was the third well to be completed as an oil producer in Myanmar so far this year, it said in a filing to SGX after the market close on Friday.
Interra said it has a 60 percent interest in the Improved Petroleum Recovery Contract of the Chauk field and a 60 percent stake in Goldpetrol, which is the field’s operator.