These are Singapore companies which may be in focus on Wednesday, 25 September 2019: Thai Beverage, Keppel Corp., Sembcorp Industries, Jardine Cycle & Carriage, Perennial Real Estate, Kimly, Mirach Energy, Citic Envirotech, Frasers Property, Cromwell European REIT, Sasseur REIT, Raffles Medical Group and Y Ventures.
This article was originally published on Wednesday, 25 September 2019 at 12:06 A.M. SGT; it has since been updated to include Keppel DC REIT and an additional item on Cromwell European REIT.
The Capital Group Cos. ceased to be a substantial shareholder of Thai Beverage, with its deemed interest falling to 4.949 percent, under the 5 percent threshold, CGC said in a filing to SGX Tuesday.
Keppel Corp. priced the issue of S$200 million notes due 2026 at 3.00 percent a year under its US$5 billion multi-currency medium-term note program, the company said in a filing to SGX Tuesday.
Sembcorp Industries’ subsidiary Sembcorp Smart Energy Solutions Vietnam has entered a joint venture deal with Becamex IDC Corp. (Becamex) and Vietnam Singapore Industrial Park J.V. (VSIP) to introduce sustainable smart energy services to Vietnam, Sembcorp said in a filing to SGX Tuesday.
Jardine Cycle & Carriage
Jardine Cycle & Carriage said Tuesday it received regulatory approvals to proceed with its offer to acquire up to 10.11 percent of Refrigeration Electrical Engineering Corp.’s (REE) shares.
The offer will be open for acceptance by REE’s shareholders, subject to a 49 percent foreign-ownership limit, from 30 September to 30 October, Jardine C&C said in a filing to SGX.
Perennial Real Estate
Perennial Real Estate’s 45 percent-owned joint venture, Perennial HC Holdings, broke ground for the for Perennial Kunming South High Speed Railway Healthcare and Business City in Chenggong District, Kunming, Yunnan Province, the property developer said in a filing to SGX Tuesday.
Perennial Kunming South HSR City, comprising two plots of land, will be developed into a regional healthcare and commercial hub including medical care, eldercare, hospitality, conferences and retail with an estimated total investment cost of 7 billion yuan, the filing said.
Singapore-style coffee-shop operator Kimly plans to acquire a coffee-shop property at Teck Whye for S$14 million, marking its first site in northwest Singapore, the company said in a filing to SGX Wednesday.
Singapore Exchange Regulation (SGX RegCo) has urged investors and potential investors to be cautious when dealing with shares of Mirach Energy, it said in a filing to SGX Tuesday.
Citic Envirotech has acquired 81.48 percent of Rongcheng Xinhai Huanya Environmental Technology, or Xinhai, from Watertech for S$13.4 million, the water infrastructure player said in a filing to SGX Tuesday.
The existing shareholder, Rongcheng City Xinhai Investment, holds the remainder of Xinhai, Citic Envirotech said.
Xinhai operates a 40,000 square meter a day industrial-cum-municipal wastewater treatment plant in Rongcheng city in Shandong province in China, the filing said.
Frasers Property said Tuesday it has redeemed all of its outstanding S$600 million 4.8 percent perpetual securities and they will be cancelled.
Keppel DC REIT
Keppel DC REIT has issued 135 million new units at S$1.744 each under its private placement, with trade in the units set to begin Wednesday, the REIT said in a filing to SGX.
Cromwell European REIT
Cromwell European REIT said Thursday its Global Real Estate Sustainability Benchmark (GRESB) score improved 43 percent on-year to 67 from 47 a year earlier. The GRESB benchmarks the environmental, social and governance (ESG) performance of real assets.
Progress was made in the policy and disclosure and the monitoring and environmental management systems categories, the REIT said in a filing to SGX.
“Sustainability is at the core of how we do business. We believe in accountability and measurable goals,” Simon Garing, CEO of the REIT’s manager, said in the statement. “GRESB’s recognition of our strong performance validates the effectiveness of our holistic approach towards corporate governance, environmental stewardship, as well as social responsibility. Having a strong sustainability foundation better enables us to fulfill CEREIT’s core objectives of providing unitholders with stable distributions and long-term growth.”
Cromwell European REIT
Cromwell European REIT completed the acquisition of Business Garden Poznan Phase I, located in Poznan, Poland, for a total cost of around 89.7 million euros, the REIT said in a filing to SGX Wednesday.
The property is effectively fully occupied, with tenants including Santander Group, MAN Group and GSK, the filing said.
The acquisition brought Cromwell REIT’s portfolio to 103 properties across seven European countries, the REIT said.
Sasseur REIT said Tuesday the first-day sales of its 2019 anniversary season for its four outlets — located in Chongqing, Bishan, Hefei and Kunming –climbed 8.9 percent on-year to 215.6 million yuan (S$41.72 million).
Every September, the Sasseur group holds a two-week-long sales promotion across all of its outlets to mark its anniversary, the REIT said in a filing to SGX.
Two properties, located in Xi’an and Guiyang and currently managed by the REIT’s sponsor, Sasseur Cayman Holding, posted first-day sales growth of 27.7 percent on-year to 71.3 million, the filing said; Sasseur REIT has right-of-first-refusal for the properties, it added.
Raffles Medical Group
Raffles Medical Group said Tuesday it formed an indirect, wholly owned subsidiary, called Renguang Health Management (Shanghai), or RHM, in China, with a registered capital of 80 million yuan (S$15.49 million).
RHM will mainly be involved in hospital management and operations, Raffles Medical said in a filing to SGX.
The capital contribution will be paid in cash and will be funded through internal resources, the filing said.
Amber Blaze became a substantial shareholder of Y Ventures after agreeing to acquire 20.5 million shares, or a 10 percent stake, for S$1.66 million in a off-market transaction, it said in a filing to SGX Tuesday.
Lew Chern Yong, Y Ventures’ executive chairman and director, is the sole shareholder of Amber Blaze, which is based in the British Virgin Islands, the filing said, adding Lew is also deemed interested in the shares, pending completion of the deal.
The seller of the shares is Low Yik Seng, Y Ventures’ managing director, the filing said.