These are Singapore companies which may be in focus on Thursday, 10 October 2019: Frasers Property, Keppel DC REIT, Singapore Exchange, Sembcorp Marine and PACC Offshore Services Holdings, or POSH.
This article was originally published on Thursday, 10 October 2019 at 8:21 A.M. SGT; it has since been updated to include Spackman Entertainment, Duty Free International, Y Ventures and an additional item on Frasers Property.
Frasers Property Australia and Sekisui House Australia, partners in a joint venture to develop the Central Park project in Sydney, Australia, have sold the final three retail assets in the mixed-use development for A$174.5 million, the companies said in a filing to SGX Thursday.
Keppel DC REIT
Keppel DC REIT said late Wednesday its preferential offering of 141.99 million new units at S$1.71 each met with solid demand, coming in at 175.4 percent subscribed.
Singapore Exchange announced Wednesday it appointed Tham Sai Choy as chairman of the independent listings advisory committee (LAC), effective 7 October, replacing Gautam Banerjee, who is stepping down.
In the year ended 30 June, the LAC has evaluated the listing application from a company with a dual-class share structure, and it reviewed eight non-referral cases submitted by SGX, the exchange said in a statement.
Sembcorp Marine and PACC Offshore Services Holdings
PACC Offshore Services Holdings, or POSH, said Wednesday it entered a deal to acquire the 50 percent of its joint venture with Sembcorp Marine’s wholly owned subsidiary Dolphin Shipping it doesn’t already own for US$679,464, or around S$937,660.
The joint venture, called Pacific Workboats, or PWPL, offers harbor services in Singapore and in the region, POSH said in a filing to SGX.
In a separate filing, SembMarine said it was divesting its stake as part of its plan to renew and operate its tugboat fleet based on its proprietary LNG-hybrid tug designs.
The deal is expected to be completed by the end of the year, POSH said.
Frasers Property announced Wednesday Christopher Tang, CEO of Frasers Property Singapore, will retire on 31 December, and assume the role of senior adviser.
The property company has also formed a retail-focused platform in Singapore to manage retail assets in the city-state, with Low Chee Wah set to become CEO of the retail platform from 15 October, Frasers Property said in a filing to SGX.
Duty Free International
Duty Free International reported Wednesday its fiscal second quarter net profit dropped 60.8 percent on-year to 5.3 million ringgit (S$1.74 million) on changes to accounting for leases, lower profit margin and lower foreign-exchange gains.
Spackman Entertainment Group
Spackman Entertainment Group said Wednesday its romantic comedy film, “Crazy Romance,” will make a debut in 22 countries, including Singapore, after its release in South Korea.
The film had total ticket admissions of 1.29 million with gross box office revenue of more than US$9.1 million as of Tuesday, Spackman said in a filing to SGX.
The estimated total production budget, including prints and advertising costs, is set around 6.7 billion won, or around US$6.0 million, the filing said.
Y Ventures said Wednesday it has completed its placement of 24.66 million new shares, which are expected to be listed on SGX’s Catalist board on or around 15 October.
The placement increased the total number of issued shares to 229.66 million, from 205 million previously, Y Ventures said in a filing to SGX.