These are Singapore companies which may be in focus on Monday, 26 August 2019: Yangzijiang Shipbuilding, SPH REIT, Silverlake Axis, UOL Group, Far East Orchard, SATS, Frasers Logistics & Industrial Trust, Spackman Entertainment Group and Cordlife.
This item was originally published on Monday, 26 August 2019 at 7:05 A.M. SGT; it has since been updated to include Keppel Infrastructure Trust and an additional item on Silverlake Axis.
Yangzijiang Shipbuilding obtained new orders for two 325,000 DWT bulk carriers from a shipowner based in Asia, the Chinese shipbuilder said in a filing to SGX Friday.
SPH REIT priced an offering of S$300 million subordinated perpetual securities at 4.10 percent, SPH REIT management, the REIT’s manager, said in a filing to SGX Friday.
Keppel Infrastructure Trust
The Basslink interconnector in Australia, which is part of Keppel Infrastructure Trust’s portfolio, experienced a trip caused by its direct current protection system on Sunday, Basslink said in a filing to ASX Sunday.
“As a precautionary measure, the Basslink interconnector remains out of service while investigations are on-going. Based on current information, the anticipated return to service date is 27 August,” Basslink said.
The Basslink telecoms cable, which provides broadband services to internet services providers, remains operational, Basslink said.
In a separate filing to SGX, Keppel Infrastructure Trust said Sunday the outage wasn’t expected to have any material financial impact on the trust.
Silverlake Axis secured eight core banking upgrade and enhancement projects from existing customers in the fiscal fourth quarter, for a total value of around 40 million ringgit (S$13.24 million), the company said in a filing to SGX Friday.
Silverlake Axis reported Friday its fiscal fourth quarter net profit jumped 86 percent on-year to 67.45 million ringgit (S$22.27 million or US$16.03 million) as the project-related segment contributed “significantly” to revenue.
UOL Group’s indirect wholly owned subsidiary, Hotel Investments (Suzhou), or HIS, entered a deal to sell HIS’ entire interest in Suzhou Wugong Hotel (SWHC) to Bao Chang Long (Beijing) Commercial Management for 408 million yuan, or around S$80 million, the property developer said in a filing to SGX Friday.
China-based SWHC owns a 480-room hotel, Pan Pacific Suzhou, in Suzhou, and eight apartment units in Suzhou being used as staff quarters, the filing said. After the deal’s completion, SWHC will cease to be a subsidiary of UOL, the filing said.
Far East Orchard
Woodlands Square (WSPL) — a joint venture equally owned by Far East Orchard’s wholly owned subsidiary Tannery Holdings, Far East Civil Engineering and Sekisui House — has entered a deal to sell three property units at the Woodlands Square property development to Far East Management (FEM), Far East Orchard said in a filing to SGX Friday.
Woodlands Square is a 99-year leasehold integrated office development currently under development, the filing said.
The consideration is S$131.7 million, or around S$19,379 per square meter for the aggregate 6,796 square meters in the development, which is spread across three floors, the filing said.
SATS’ wholly owned subsidiary SATS Investments (SIPL) has completed its sale of 51 percent of of Food and Allied Support Services Corp. (FASSCO) to Planet Foods, the company said in a filing to SGX Friday.
SATS said FASSCO has ceased to be a subsidiary of SIPL and it has ceased to have any interest in FASSCO.
Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust said Friday that it had completed the acquisition of nine logistics properties in Germany for 128.9 million euros, or around S$198.5 million.
The trust used S$126.4 million in proceeds from its private placement, which raised a gross S$258.1 million, to partially fund the acquisition of three Australian properties, and S$125.8 million was used to partially fund the acquisition of the German properties, with the balance funded by debt, FLT said in a filing to SGX.
Spackman Entertainment Group
Spackman Entertainment Group said Friday its next film, “Crazy Romance,” will be released for the South Korean box office in early October.
The film was produced by Spackman’s indirect wholly owned subsidiary, Zip Cinema, and will be distributed by Next Entertainment World, the South Korean drama producer said in a filing to SGX.
The estimated total production budget, including prints and advertising costs, is around 6.7 billion won, or around US$6.0 million, the filing said.
Cordlife’s subsidiary Cordlife Sciences (India) appointed Cordcell Bangladesh as its marketing agent in Bangladesh to expand the company’s presence to a 10th Asian country, Cordlife said in a filing to SGX Friday.
“Bangladesh, as one of the five fastest growing economies of the world and dubbed the next Asian tiger by the World Economic Forum as well as the Economist, offers a huge growth prospect for Cordlife,” Tan Poh Lan, Cordlife’s CEO and executive director, said in the statement.
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