These are Singapore companies which may be in focus on Thursday, 7 March 2019:
Moody’s Investors Service on Wednesday revised the ratings outlook for Singtel Optus and Optus Finance to negative, saying Singtel’s weaker financial profile may affect its ability to support the two.
On Tuesday, Moody’s cut its outlook for Singtel’s A1 rating to negative from stable, pointing to the Singapore telco’s increased leverage and weaker earnings outlook.
Konnectivity said on Wednesday it would compulsorily acquire all the M1 shares from holders who haven’t accepted its S$2.06 a share takeover bid and then delist the Singapore telco.
Singapore-based ride-hailing firm Grab received US$1.46 billion in fresh series-H funding from Softbank Vision Fund, bringing its total funding to around US$4.5 billion, Insider Stories reported on Wednesday.
The series-H funding round also included Toyota Motor, Oppenheimer Funds, Hyundai Motor Group, Booking Holdings, Microsoft Corp., Ping An Capital and Yamaha Motor Corp., the report said.
Frasers Centrepoint Trust
Moody’s Investors Service said on Wednesday it placed Frasers Centrepoint Trust’s Baa1 issuer rating on review for downgrade after the trust’s announcement it entered deals to acquire an around 17 percent stake in PGIM Real Estate AsiaRetail Fund.
In late February, Frasers Centrepoint Trust said it entered deals to buy 90,346 shares in PGIM Real Estate AsiaRetail Fund for an aggregate S$342.5 million via 12 separate agreements with certain shareholders.
Frasers Logistics & Industrial Trust
Prudential PLC and Prudential Corp. Asia became substantial shareholders of Frasers Logistics & Industrial Trust, with their deemed interests rising above the 5 percent threshold to 5.2297 percent from 4.79603 percent, the trust said in separate filings to SGX after the market close on Wednesday.
That was after the acquisition of 8.78 million units at S$1.1271 each, the filing said.
Prudential PLC and Prudential Corp. Asia are deemed to have an interest in the units managed by subsidiaries as fund managers, the filings said.
OKP Holdings said on Wednesday the issued and paid-up capital of associated company USB (Phoenix) was increased to S$2 million from S$2 via the issue of 1,999,998 new ordinary shares at S$1.00 each to holding company USB Holdings.
OKP holds 25 percent of USB Holdings, it said in the filing to SGX after the market close on Wednesday.