These are Singapore companies which may be in focus on Thursday, 29 August 2019: OUE, Gemdale Properties, Citic Envirotech, CapitaLand Retail China Trust (CRCT), Silverlake Axis, Starhill Global REIT, Boustead Singapore and F J Benjamin.
This article was originally published on Wednesday, 28 August 2019 at 23:30 SGT; it has since been updated to include Hyflux.
OUE and Gemdale Properties
OUE Ltd. acquired 959.86 million shares, or an around 6 percent stake, in Gemdale Properties and Investment Corp. (GPI) for HK$0.85 each for a total of around HK$815.9 million (S$144.36 million or US$103.98 million), the Singapore-listed developer said in a filing to SGX Wednesday.
Hyflux indicated late Wednesday that it hasn’t signed a definitive agreement with U.A.E.-based Utico FZC for a white knight investment, pending resolution on some outstanding issues.
Citic Envirotech has secured two build-own-transfer projects in Xichang City, Sichuan Province, in China, with a total investment value of 1.69 billion yuan (S$327.70 million or US$23594 million), the water infrastructure company said in a filing to SGX Wednesday.
CapitaLand Retail China Trust
CapitaLand Retail China Trust’s preferential offering of 86.87 million new units received valid acceptances and excess applications for around 139 percent of the total on offer, the REIT’s manager said in a filing to SGX Wednesday.
Silverlake Axis will end up holding around 43.59 percent of New Zealand-listed software company Finzsoft Solutions after exiting the joint venture, Silverlake HGH (SHGH), which had owned the stake, the Singapore-listed financial software company said in a filing to SGX Wednesday.
Starhill Global REIT
Starhill Global REIT entered a facility agreement with Sumitomo Mitsui Banking Corp.’s Singapore branch for a five-year unsecured term loan facility of 3.7 billion yen (S$48.59 million or US$34.99 million), the REIT’s manager said in a filing to SGX Wednesday.
The facility will be used to refinance the REIT’s existing unsecured 3.7 billion yen term loan before it matures in July 2020, the filing said.
The REIT added it expected to use the facility in September, extending the maturity to September 2024.
Boustead Singapore said Wednesday Chan Shiok Faun has been redesignated to group chief financial officer from director of group finance previously.
The change was based on her performance and contributions since director of group finance since January 2018, the company said in a filing to SGX.
F J Benjamin
F J Benjamin reported Wednesday a fiscal year net profit of S$177,000, swinging from a year-earlier net loss of S$1.24 million, after work to restructure the business.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.
Or you can contribute via PayPal: