These are Singapore companies which may be in focus on Friday, 31 May 2019:
Singapore Press Holdings
Singapore Press Holdings priced an offering of S$150 million of subordinated perpetual securities at 4.50 percent under its S$1 billion multi-currency debt issuance program, the media and property company said in a filing to SGX Thursday.
City Developments said Thursday its joint venture, Golden Crest Holdings, entered a deal to sell its entire interest in T-Grande Investment Holding (TGIH) to Ascend TGrande for around S$38.895 million.
TGIH’s wholly owned subsidiary, T-Grande Property Holding (TGPH), owns a property called Tampines Grande, the filing said. Golden Crest is 80 percent owed by City Development’s indirect wholly owned subsidiary, Bestro Holdings, and 20 percent owned by unrelated party Golden Spot, the filing said.
After the deal TGIH and TGPH will cease to be subsidiaries of City Developments, the filing said.
Frasers Property said Thursday its indirect wholly owned subsidiary, Shanghai Frasers Management Consultancy, incorporated a wholly owned subsidiary, Shanghai Frasers Business Advisory, in China with an initial registered capital of 100,000 yuan (S$19,975 or US$14,478).
Frasers Centrepoint Trust
Frasers Centrepoint Trust said Thursday around S$188.7 million of the gross proceeds from its private placement were used to pare down bridging loans for the acquisition of a stake in PGIM Real Estate AsiaRetail Fund.
The remainder of the S$396.6 million gross proceeds was used to pay expenses related to the placement and will be used to repay borrowings, the trust said in a filing to SGX.
BreadTalk’s wholly owned subsidiary, Food Republic Taiwan, entered a franchise deal with Song Fa Holdings to bring Song Fa Bak Kut Teh restaurants to Taiwan, the iconic Singapore bakery chain said in a filing to SGX Thursday.
Sunpower Group obtained a 77 million yuan contract from repeat customer Jiangsu Hailun Petrochemical to provide heat exchanger equipment for a technology upgrading project at a PTA production facility, the company said in a filing to SGX Thursday.
Creative Technology announced Thursday it would work with OEM computer maker Clevo to include the Singapore company’s Super X-Fi sound technology into the Taiwanese company’s gaming laptops.
Sasseur REIT’s manager, Sasseur Asset Management, said Thursday Fred Chee Kin Yuen has tendered his resignation as the manager’s chief financial officer to pursue personal interests. The resignation will be effective 28 June, it said.
Jaslyn Leong, the financial controller of the manager, will oversee the finance functions and team while the search for a replacement is in progress, the REIT’s manager said in a filing to SGX.
Old Chang Kee
Iconic Singapore curry puff maker Old Chang Kee reported Thursday its fiscal year profit after tax increased 14.6 percent on-year to S$4.34 million on contributions from new outlets.
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