These are Singapore companies which may be in focus on Friday, 18 October 2019: Singapore Press Holdings (SPH), Keppel Corp., Singapore Exchange (SGX), CapitaLand, Keppel Pacific Oak US REIT, Olam International, Valuetronics, Soilbuild Construction, SATS and Synagie.
This article was originally published on Friday, 18 October 2019 at 3:04 A.M. SGT; it has since been updated to include Manulife US REIT.
Keppel Corp. reported Thursday its third quarter net profit dropped 30 percent on-year to S$159 million, mainly on year-ago gains from divesting a commercial development in Beijing and higher net interest expense.
Singapore Press Holdings
Singapore Press Holdings reported Thursday its full fiscal year net profit dropped 23.4 percent on-year to S$213.21 million, mainly on the absence of a year-ago one-off gain from a divestment.
Singapore Press Holdings
Singapore Press Holdings said Thursday it would cut 5 percent of its media staff in a restructuring which includes changes to ad sales practices and more sharing of content across titles and platforms.
Singapore Exchange said Thursday it established a S$1.5 billion multicurrency debt issuance program which can issue medium-term notes or perpetual securities in any currency, amount or tenor.
CapitaLand said Thursday it has issued S$500 million in fixed-rate subordinated perpetual notes, which had previously priced at 3.65 percent.
CapitaLand said Thursday it was tying up with NavInfo DataTech and TPG Telecom for Singapore’s largest 5G smart estate trial site, located at the property developer’s Singapore Science Park project.
The tie-up will develop and testbed 5G enabled cellular vehicle-to-everything (C-V2X) technology for intelligent mobility services in a commercial space, CapitaLand said in a filing to SGX.
Keppel Pacific Oak US REIT
Keppel Pacific Oak US REIT’s private placement of 104.29 million new units met with strong demand, pricing at US$0.725, the top of the US$0.701 to US$0.725 indicative range, in an offering than was more than four times subscribed, the REIT said late Thursday.
Olam International said Thursday it secured a multi-tranche revolving credit facility of a total US$1.53 billion to refinance its existing loans.
Valuetronics said Thursday its wholly owned subsidiary Valuetronics Asia has set up a wholly owned subsidiary in Vietnam to expand its operations in the country as it shifts some manufacturing out of China.
Manulife US REIT
Manulife US REIT said Friday the 72.86 million new units issued in its preferential offering will begin trading on SGX on Friday.
The offering brought the total number of units to 1.57 billion, the REIT said in a filing to SGX.
Soilbuild Construction said Thursday its wholly owned subsidiary Precast Concrete landed an around S$28.8 million contract to supply precast concrete components for a Housing and Development Board (HDB) build-to-order (BTO) public-housing project.
SATS said Thursday its 49 percent-owned Taj SATS Air Catering (TAJSATS) completed its acquisition all of Taj Madras Flight Kitchen (TMFK) from all of its shareholders. The company said it no longer has a direct interest in TMFK.
However, because SATS owns 49 percent of TAJSATS, its effective interest in TMFK has increased to 49 percent from 30 percent previously, the aviation caterer said in a filing to SGX.
Synagie, Lazada and KOSE
E-commerce services provider Synagie said Thursday the launch of Japanese cosmetics brand KOSE in Singapore, Malaysia and Thailand on Lazada on 14 October achieved record sales for a beauty brand launch on LazMall in Singapore and Malaysia.
“As KOSE’s exclusive e-commerce solutions enabler, we are immensely gratified to be given the opportunity to manage its flagship stores and achieve a high volume of orders for the brand,” Olive Tan, Synagie’s executive director, said in the statement filed to SGX.