This article was originally published on Monday, 4 March 2019 at 21:47 SGT; it has since been updated to include DBS and to update DeClout.
These are Singapore companies which may be in focus on Tuesday 5 March 2019:
DBS said on Monday it launched a locally incorporated wholly owned subsidiary, DBS Bank India Ltd. (DBIL), in India, with plays to create more than 100 customer “touchpoints,” or combinations of branches and kiosks, in a move to expand on the subcontinent.
“The creation of a full-fledged subsidiary in India allows us to scale up further and bring to customers a more compelling proposition,” DBS Group CEO Piyush Gupta said in a statement on Monday. He pointed to the launch in 2016 of DBS’ digibank, which was a mobile-only offering in India, and to recent efforts to create data-driven lending services for small and medium enterprises.
Digibank has more than 2.5 million customers in India, with offerings ranging from savings accounts, unsecured loans and paperless onboarding for mutual fund investments, it said.
The Thakral family has made a voluntary conditional cash offer to acquire 26.51 million shares of Thakral Corp., or an around 20.26 percent stake, at S$0.50 a share, in a bid that would being its total holding to around 50.20 percent.
Singtel said on Monday its subsidiary NCS incorporated a wholly owned subsidiary in India called NCSI Technologies (India), with a paid-up capital of 190 million Indian rupees (S$3.63 million or US$2.68 million).
NCSI India will provide consultancy on and delivery of application development and management, information technology and business process outsources, and it will act as a developer, consultant and technical adviser, it said in a filing to SGX on Monday.
DeClout requested a mandatory suspension of its shares as Exeo Global’s takeover bid for the company resulted in its free float falling below the required minimum 10 percent, it said in a filing to SGX on Tuesday before the market open.
That followed a filing on Monday saying the bid has closed and any further acceptances of the offer will be rejected.
Around 95 percent of DeClout’s shares have been acquired or have accepted the takeover offer as of the close of business on Monday, with Exeo Global planning to compulsorily acquire the remainder.
Sakae Holdings said on Monday its subsidiary Sakae Corporate Advisory entered a consultancy contract with Da Nang Infrastructure Investment and Urban Development Project Management Board.
Under the deal, Sakae Corporate Advisory will provide consultancy on the adjustment of the Da Nang City Master Plan until 2030, with an eye to 2045, and on the Design of Economic Development Strategy until 2030, with Surbana Jurong Consultants engaged on the urban and infrastructure works of Da Nang City Conceptual Master Plan 2030, it said in a filing to SGX on Monday.
“The parties, together with Surbana Jurong, will be working closely to study and evaluate the information and details on the city’s current
planning and related issues and work on proposals,” it said.
Sasseur REIT won the “Best REIT Deal in Southeast Asia 2018” award in February for its S$396 million IPO, which was Southeast Asia’s largest REIT IPO in 2018, the company said in a filing to SGX Monday.
“We are pleased that our listing was recognized as a noteworthy transaction for Asia’s emerging coming-of-age asset class,” Anthony Ang, CEO of Sasseur Asset Management, said in the statement. “We have delivered a stellar operational performance in our maiden year.”
The award was organized by institutional investment banking magazine Alpha Southeast Asia.