This item was originally published on Thursday, 4 April 2019 at 1:04 A.M. SGT; it has since been updated to include iFast.
These are Singapore companies which may be in focus on Thursday, 4 April 2019:
Genting Singapore said on Wednesday it has committed to investing around S$4.5 billion to revamp and expand its Resorts World at Sentosa integrated resort on Singapore’s Sentosa Island, including growing the Universal Studios Singapore park.
Singapore Post said on Wednesday that after a strategic review, it planned to sell its U.S. e-commerce businesses Jagged Peak and TradeGlobal.
SATS said on Wednesday it has completed the acquisition of the remainder of SATS Yihai Kerry Kunshan Food, or Kunshan FoodCo, making it now ultimately owned by the company via its wholly owned subsidiary SATS China.
Kunshan FoodCo has now been renamed as SATS (Kunshan) Food Co., SATS said.
In November, SATS said it would acquire 40 percent of Kunshan FoodCo from Wilmar International’s indirect wholly owned subsidiary, Yihai Kerry Investments (YKI) for 80 million yuan (currently S$16.13 million or US$11.92 million) and would acquire the remaining 60 percent from another wholly owned SATS subsidiary, SATS Food Services (SFS), for 120 million yuan.
Fraser and Neave
Fraser and Neave’s wholly owned subsidiary Times Publishing said on Wednesday has completed the acquisition of 60 percent of marketing and print services provider Print Lab for S$24.48 million.
Online brokerage iFast’s Malaysia subsidiary has become the first in Malaysia to offer investment grade bonds to retail investors, with minimum investments as low as 1,000 ringgit (S$332 or US$245).
Yanlord Land said on Wednesday its wholly owned subsidiary Nanjing Renbei Property Development acquired an additional 14 percent stake in Nanjing Yusheng Real Estate via a capital increase for 10.6 million yuan (S$2.14 million or US$1.58 million).
After the acquisition, Nanjing Renbei’s interest in Nanjing Yusheng, which is based in Nanjing, China, increased to 26 percent from 12 percent, Yanlord said in a filing to SGX after the market close on Wednesday.
Nanjing Yusheng is mainly involved in property development and related activities, the filing said.
Sunpower Group said on Wednesday it obtained a 34.5 million yuan (S$6.95 million or US$5.14 million) manufacturing and services (M&S) contract from East China Engineering Science and Technology, or ECEC.
KSH Holdings, Chip Eng Seng and Lian Beng
KSH Holdings, Chip Eng Seng and Lian Beng said in separate filings to SGX on Wednesday that they dissolved LGB-NB, a joint venture company set up in 2015, was voluntarily unwound after the partners decided not to proceed with a project in Vietnam.
KSH’s wholly owned subsidiary KSH Vietnam Investment had held 15 percent of LGB-NB, Chip Eng Seng’s wholly owned subsidiary CESV had held 20 percent, and Lian Beng’s wholly owned subsidiary Goldprime Development had held 15 percent, the filing said.
Pine Capital said late on Wednesday that it subscribed for new shares in its 51 percent-owned subsidiary Advance Capital Partners Asset Management, or ACPAM, at the fund manager’s “urgent request” to meet regulatory requirements.
Jiutian Chemical said on Wednesday that its board was of the opinion the company could continue as a going concern, in comments following its independent auditor expressing “material concern” over the issue.