These are Singapore companies which may be in focus on Monday, 2 September 2019: DBS Group, Frasers Property, Ascott Residence Trust, CapitaLand, CapitaLand Retail China Trust (CRCT), SPH REIT, OUE Hospitality Trust, Aspial, Maxi-Cash Financial Services, Soilbuild Construction Bukit Sembawang and CSE Global.
This article was originally published on Saturday, 31 August 2019 at 1:19 A.M. SGT; it has since been updated to include Sembcorp Marine, Keppel, CapitaLand and BreadTalk.
Capital Research and Management Co. has ceased to be a substantial shareholder of DBS Group, with its deemed interest falling to 4.989 percent, below the 5 percent threshold, from 5.086 percent previously, the shareholder said in a filing to SGX Friday.
That was after the disposal of 2.48 million shares at an average S$24.00 each and the acquisition of 775 American depositary receipts (ADRs), which convert into 3,100 shares, at US$69.23 per ADR, the filing said.
CRMC is a U.S.-based investment management company which manages the American Funds family of mutual funds. The DBS shares were owned by accounts under discretionary investment management and CRMC’s parent, CGC, and its affiliates don’t own DBS shares in their own accounts, the filing said.
Sembcorp Marine obtained new contracts valued at S$400 million from new and repeat customers including the offshore gas and wind farm developments and cruise ship upgrades, the company said in a filing to SGX Monday.
Keppel Land China entered a deal to acquire all of Beijing Shunxiangren Enterprise Management from Ningbo Jiasheng Yuecheng Investment Management Center (LP) and Beijing Hanhe Investment Management for 178.6 million yuan, or around S$35.1 million, Keppel Corp. said Monday.
CapitaLand’s Ascott plans to open four properties in Singapore this year, with another four set to open by 2021, as the lodging company plans a record number of openings in 2019, the company said in a filing to SGX Monday.
Frasers Property sold all of Frasers Hospitality Investment Holding (Philippines) to Bond Capital Partners for 1.70 billion Philippine pesos, or around S$45.3 million, the Singapore-listed property developer said in a filing to SGX Friday.
Ascott Residence Trust
Ascott Residence Trust said Friday it would redeem all of its S$150 million 5.00 percent perpetual securities with a first call date of 27 October, paying out the principal amount and the distribution.
After the redemption, the securities will be cancelled and delisted from SGX, Ascott REIT said in a filing to SGX.
BreadTalk’s wholly owned subsidiary Topwin Investment Holding has entered a deal to acquire food court operator Food Junction Management (FJM) from Food Junction Holdings for S$80 million, Singapore’s iconic bun maker said in a filing to SGX Monday.
CapitaLand and CapitaLand Retail China Trust
CapitaLand Retail China Trust said Friday it completed the acquisition of three companies holding malls CapitaMall Xuefu, CapitaMall Aidemengdun and CapitaMall Yuhuating from CapitaLand.
CRCT used the around S$279.4 million in proceeds from its equity fundraisings to partly finance the acquisition cost, the REIT said in a filing to SGX.
In a separate filing, CapitaLand said it will have an interest of around 34.4 percent in the divested companies via its interest in CRCT.
SPH REIT said Friday it has completed the issuance of S$300 million subordinated perpetual securities priced at 4.10 percent and the notes are expected to be listed on SGX on Monday.
The notes were issued under SPH REIT’s S$1 billion multicurrency debt program, the REIT said in a filing to SGX.
Soilbuild Construction said Friday CEO Ding Yen Shee Daniel has resigned, effective Friday, to pursue personal interests after only five months in the position.
OUE Hospitality Trust
OUE Hospitality Trust’s units were suspended from trade, effective Monday, due to the proposed merger of the trust with OUE Commerical REIT, the trust said in a filing to SGX Friday.
Aspial and Maxi-Cash Financial Services
Aspial said Friday it has completed the transfer of all of Aspial Property Investment to Maxi-Cash Financial Services. After the deal’s closing, Aspial Property will become a subsidiary of Maxi-Cash and will cease to be a subsidiary of Aspial, the company said in a filing to SGX.
Bukit Sembawang announced Friday its CEO, Ng Chee Seng, would retire, effective Saturday, and it tapped the current Chief Financial Officer and Company Secretary Ooi Chee Eng as acting CEO, effective Sunday.
CSE Global has divested an 80 percent stake in S3 ID to Tan Mok Koon for S$3.84 million, the company said in a filing to SGX Friday. The remaining 20 percent of S3 ID is held by Tan, the filing said.
S3 ID owns operating companies in the U.K., Norway and Malaysia which design and make computer programmable safety systems of electronic mustering, the filing said.
CSE plans to use the proceeds for general working capital purposes and to reduce its bank borrowings, the filing said.
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