These are Singapore companies which may be in focus on Thursday, 26 September 2019: Lendlease Global Commercial REIT, Fraser and Neave, Thai Beverage, Keppel Infrastructure Trust, Mapletree Industrial Trust, GuocoLand, Wilmar, Lian Beng, SLB Development, China Everbright Water and Raffles United.
This article was originally published on Wednesday, 25 September 2019 at 22:44 SGT; it has since been updated to include ESR-REIT.
Lendlease Global Commercial REIT
Lendlease Global Commercial REIT is seeking an initial public offering (IPO) on SGX of 387.47 million units at S$0.88 each to raise S$1.03 billion, the REIT’s manager said in a statement Wednesday after filing a prospectus with the Monetary Authority of Singapore.
Fraser and Neave and Thai Beverage
Fraser and Neave re-entered Myanmar’s beer market, with production of Chang Lager Beer beginning at its Emerald Brewery Myanmar after an investment of around US$70 million in the new brewery, the beverage maker said Wednesday.
Keppel Infrastructure Trust
Basslink’s interconnector is expected to return to service on 30 September, two weeks ahead of expectations, after being out of service since 24 August, the company, which is part of Keppel Infrastructure Trust’s (KIT) portfolio, said Wednesday.
Mapletree Industrial Trust
Mapletree Industrial Trust said Wednesday it would issue 176.6 million new units at S$2.265 each and they would begin trading on Thursday.
The new units, which were issued under a private placement, brought the trust’s total number of units to 2.20 billion, Mapletree Industrial Trust said in a filing to SGX.
GuocoLand broke ground on the first phase of its large-scale, mixed-use development, Chongqing 18 Steps, located in the Yuzhong District of Chongqing, China, the property developer said in a filing to SGX Wednesday.
Wilmar said Wednesday its wholly owned subsidiary Wilmar Kuantan Edible Oils has completed the purchase of Cargill Palm Products’ edible oil facilities in Kuantan, Malaysia.
The acquisition was announced in November 2017, Wilmar said in a filing to SGX.
ESR-REIT’s preferential offering of 98.1 million new units will launch Thursday for subscription, the REIT said in a filing to SGX.
Unitholders can sign up for their allotment and apply for excess new units via the acceptance form or ATMs at participating banks DBS, OCBC and UOB, the filing said.
The offering closes on 4 October, ESR-REIT said.
Lian Beng and SLB Development
SLB Development said Wednesday it entered a deal to sell wholly owned subsidiary Wellprime, which owns the property at 50 Lorong 21 Geylang in Singapore, to Jun Yuan Holdings for S$13.5 million.
The property is a freehold industrial property which SLB Development had originally planned to redevelop into a multi-use light industrial building, the company said in a filing to SGX.
SLB Development, which is a subsidiary of Lian Beng, plans to use the proceeds to discharge the bank loan on the property, to acquire a potential development property and for general working capital purposes, the filing said.
China Everbright Water
China Everbright Water’s 60 percent-owned subsidiary, Everbright Water (Qingdao), has entered an investment agreement with Qingdao Water Authority Bureau for the Qingdao Maidao Waste Water Treatment Plant Expansion and Upgrading Project, the water infrastructure company said in a filing to SGX Wednesday.
Under the deal, Everbright Water (Qingdao) will be the entity handling the investment, construction and operation of the project, the filing said.
Once the project obtains approvals from the Qingdao Development and Reform Commission, Everbright Water (Qingdao) will negotiate the project requirements with the Bureau, the filing said.
Raffles United Holdings
Raffles United Holdings said Wednesday Ho Hui Min would become the company’s chief executive officer and she would cease to be chief financial officer.
Faith Kristine Suarez was tapped as group finance manager, Raffles United said in a separate filing to SGX. Suarez has been working with the company for nearly eight years and assisted CFO Ho on financial and corporate secretarial works, the filing said.
In addition, Teh Geok Koon, age 72, will step down as chief operating officer and CEO of wholly owned principal subsidiary, Kian Ho Pte. Ltd. (KHPL) to facilitate succession planning, Raffles United said in third filing to SGX. Teh will remain an executive director and a director of KHPL, it said.