These are Singapore companies which may be in focus on Wednesday, 28 August 2019: Oxley Holdings, Tiong Seng Holdings, Yanlord Land, Frasers Logistics & Industrial Trust, China Everbright Water, Straits Trading, Bukit Sembawang Estates, Heeton Holdings, Parkson Retail Asia and Sino Grandness.
This article was originally published on Wednesday, 28 August 2019 at 1:07 A.M. SGT; it has since been updated to add Wing Tai Holdings.
Oxley Holdings reported Tuesday its fiscal fourth quarter net profit dropped 81 percent on-year to S$25.59 million, partly due to a lower revenue contribution from the U.K. project.
Tiong Seng Holdings
Tiong Seng Holdings landed a construction contract worth S$130.5 million to develop a 20-storey hotel at Club Street for Midtown Development, which is part of Worldwide Hotels Group, the Singapore-listed developer said Tuesday in a filing to SGX.
Yanlord Land said Tuesday its wholly owned subsidiary, Yanlord Land (HK), has issued US$400 million 6.80 percent notes due 2024 in minimum denominations of US$200,000 and SGX has given approval in-principle for the listing of the notes.
The net proceeds of US$395 million will be used for project development and acquisition and general corporate purposes, Yanlord said in a filing to SGX.
Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust said Tuesday it completed the acquisition of a 94 percent stake in CCP IV Garching S.à r.l., which owns the EDEKA facility in Germany for around 15.3 million euros, or around S$23.6 million.
The purchase price was fully funded by debt, the trust said in a filing to SGX.
China Everbright Water
China Everbright Water has signed two waste-water treatment projects, one in Shandong Province and the other in Jiangsu Province, the water-management company said in a filing to SGX Tuesday.
The Straits Trading Co.’s indirect wholly owned subsidiary, Straits Investment Management, has received approval from the Monetary Authority of Singapore to operate as a registered fund management company, the company said Tuesday in a filing to SGX.
Bukit Sembawang Estates
Bukit Sembawang Estates will preview the next phase of its Luxus Hills landed development, located in the Seletar Hills Estate area of Singapore, starting Friday, with the planned launch of 78 999-year leasehold homes for immediate occupancy, the developer said in a filing to SGX Tuesday.
“Landed homes are becoming increasingly rare in land-scarce Singapore, accounting for just 5 percent of Singapore’s housing stock,” Ho Jenny, general manager for marketing, said in the statement. “We expect this phase of sales to be very well-received by potential homebuyers.”
The 78 landed houses include 58 inter-terrace, 10 corner terrace and 10 semi-detached homes, and they will have four-storeys and five bedrooms, the filing said, adding some will also have swimming pools.
The company plans to launch another 39 homes in the development next year and then focus on developing its 99-year parcels, the filing said.
Heeton Holdings announced Tuesday its CEO Eric Teng has resigned, effective 1 October, to pursue other opportunities after four years in the role. Teng will remain on the board of directors as a non-executive, non-independent director, Heeton said in a filing to SGX.
Toh Giap Eng Vince, the current executive deputy chairman and executive director, will assume the responsibilities of CEO while the board searches for a successor, Heeton said.
“Under Mr. Teng’s leadership, Heeton continued to establish itself as a premier hospitality investor, owner and operator, having grown its portfolio to 12 operating hotels across the United Kingdom, Japan and Thailand, as well as an ongoing development in Bhutan. Heeton
has also continued to strategically participate in select residential development projects in Singapore,” the company said.
Parkson Retail Asia
Parkson Retail Asia reported Tuesday its fiscal fourth quarter net loss narrowed to S$17.82 million, from S$18.86 million in the year-ago period, on improved performance of the Malaysia operations.
Wing Tai Holdings
Wing Tai Holdings reported Tuesday its fiscal fourth quarter net profit dropped 86 percent on-year to S$19.35 million on lower contributions from development properties, year-earlier gains from disposing of subsidiaries and lower contributions from Hong Kong.
Sino Grandness Food Industry
Sino Grandness Food Industry said Tuesday it completed the second tranche of its share placement, issuing 85 million new shares at a revised price of S$0.043 each to strategic investor JW Capital Group.
That followed the previous issuance of 85 million new shares to JW Capital, announced in June, Sino Grandness said in a filing to SGX. JW Capital now holds 170 million shares, or a 14.8 percent stake in the enlarged share base, the filing said.
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