This article was originally published on Wednesday, 29 May 2019 at 12:37 A.M. SGT; it has since been updated to include Yoma Strategic and Valuetronics.
These are Singapore companies which may be in focus on Wednesday, 28 May 2019:
Airtel Africa, Bharti Airtel and Singtel
Airtel Africa has announced it plans to seek a potential initial public offering on the London Stock Exchange, India’s Bharti Airtel said in a letter to the Indian stock exchanges Tuesday.
Contract manufacturer Valuetronics reported net profit for its fiscal year fell 2.6 percent on-year to HK$199.48 million (S$35.05 million or US$25.41 million) on slowdown in smart LED lighting orders as the U.S. trade war hurt orders.
Frasers Property (Thailand) has announced Monday its intention to make a tender offer for all of Golden Land Property, valuing the company at 19.75 billion baht (S$855.38 million or US$621.27 million).
Perennial Real Estate
Perennial Real Estate has entered a 50:50 joint venture with Mandalay Taungthaman Development Ltd. (MTDL) to build a mixed-use project in Mandalay, Myanmar, the Singapore company said in a filing to SGX Tuesday.
Accordia Golf Trust
Accordia Golf Trust reported Tuesday its fiscal fourth quarter net loss widened to 18.5 billion yen (S$232.82 million or US$169 million), from a loss of 2.88 billion yen in the year-ago period, on impairment losses at certain golf courses.
Hyflux clarified Tuesday that its meeting with last week with potential investor Utico included “no conclusive numbers” or finalised deal.
Yoma Strategic reported Wednesday its fiscal fourth quarter net profit surged by 20 times to US$26.1 million, boosted by fair value gains in real-estate services and more KFC outlets.
Singapore law firm JLC Advisors LLP denied knowledge of Allied Technologies’ demands and communications with JLC’s managing director, Ong Su Aun Jeffrey over the S$33.15 million missing from an escrow account, the company said in a filing to SGX Tuesday.
Dyna-Mac Holdings said Tuesday it received a S$4 million order from a new customer to fabricate corrosion resistance alloy pipe spools for the central processing facility of an offshore gas field.
The work is expected to begin in the third quarter and be completed by the fourth quarter of this year, Dyna-Mac said in a filing to SGX.
The company said it will fabricate, clean, pickle, passivate, seal and transport the spools to the customer.
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