This article was originally published on Tuesday, 9 July 2019 at 23:36 SGT; it has since been updated to include Mapletree Industrial Trust.
These are Singapore companies which may be in focus on Wednesday, 10 July 2019:
Over the past year, Temasek’s portfolio was buffeted by market ructions amid the U.S. trade war, spurring declines in U.S. dollar terms, and Singapore’s state-owned investment company said it’s carefully weighing its next steps.
Singapore state-owned investment company Temasek reported Tuesday its net portfolio value rose to S$313 billion as of end-March, compared with fiscal 2018’s surge to a then-record high of S$308 billion.
Mapletree Industrial Trust
Mapletree Industrial Trust will redevelop the Kolam Ayer 2 Cluster in Singapore into a high-tech industrial precinct, with a total project costs of around S$263 million, the trust said in a filing to SGX before the market open Wednesday.
Singapore Exchange reported Tuesday total derivatives traded volume climbed 17 percent on-year in June to 20.8 million contracts, although that was down 14 percent from May.
UOL and UIC
Singapore’s Urban Redevelopment Authority (URA) awarded the tender for a residential site at Clementi Avenue 1 to UOL Group and United Industrial Corp. for S$491.3 million, the two companies said in filings to SGX Tuesday.
SATS’ wholly owned subsidiary SATS Investments has entered a deal to sell 51 percent of Food and Allied Support Services Corp. (Fassco) to Planet Foods for S$1.02 million, the Singapore-listed aviation catering company said in a filing to SGX after the market close Tuesday.
“The company is focusing all resources on executing its strategy to consolidate its leadership in airline catering and ground handling, and to supply the growing food service chains in Asia’s large cities,” SATS said in the statement. “The proposed transaction is a disposal of a business that is not in line with this strategy.”
Once the deal is completed, Fassco will cease to be a subsidiary of SATS Investments, the filing said.
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