These are Singapore companies which may be in focus on Wednesday, 30 October 2019: SATS, Sembcorp Industries, Ascendas Hospitality Trust, Starhill Global REIT, Ezion Holdings, Keppel Corp., Chip Eng Seng, Ascott Residence Trust, CSE Global, Maxi-Cash Group, Silverlake Axis and Hupsteel.
This article was originally published Tuesday, 29 October 2019 at 22:55 SGT; it has since been updated to include Keppel, CDL Hospitality Trusts, Ascott Residence Trust, Mapletree Commercial Trust, Frasers Hospitality Trust, Far East Hospitality Trust and Manulife US REIT.
SATS and Sembcorp Industries
SATS has entered a memorandum of understanding with Sembcorp Industries to develop services to reduce the aviation caterer’s environmental footprint across multiple facilities, the two companies said in a statement filed to SGX Tuesday.
Norway’s competition authorities have rejected the application for Floatel International, an associated company of Keppel Offshore & Marine, to merge with Oslo-listed Prosafe, Keppel Corp. said in a filing to SGX Wednesday.
Ascendas Hospitality Trust
Ascendas Hospitality Trust reported Tuesday its fiscal second quarter net property income rose 3.5 percent on-year to S$21.2 million on contributions from the three WBF-branded hotels in Japan and ibis Ambassador Seoul Insadong acquired between September 2018 and December 2018.
Starhill Global REIT
Starhill Global REIT reported Tuesday its fiscal first quarter net property income dropped 8.7 percent on-year to S$36.9 million, mainly due to income disruption from the planned renovation at Starhill Gallery in Malaysia. The results missed a forecast from Daiwa.
Ezion Holdings agreed to sell three oil rigs to Mexico-based marine support service company TK and HR Services for US$1.00 each, and the transfer of US$659,000 in liabilities, the troubled offshore and marine services company said in a filing to SGX Tuesday.
CDL Hospitality Trusts
CDL Hospitality Trusts reported Wednesday its third quarter net property income (NPI) fell 1.5 percent on-year to S$35.67 million on the impact of weaker currencies. The results missed a forecast from Daiwa.
Ascott Residence Trust
Ascott Residence Trust reported Wednesday its third quarter gross profit increased 1 percent on-year to S$65 million on changes to accounting for leases, partly offset by lower revenue.
Chip Eng Seng
Chip Eng Seng reported Tuesday its third quarter net profit tumbled 74.3 percent on-year to S$4.68 million on a lower contribution from property development, partly offset by higher education, construction and hospitality contributions.
Frasers Hospitality Trust
Frasers Hospitality Trust reported Wednesday its fiscal fourth quarter net property income rose 2.3 percent on-year to S$30 million on better overall portfolio performance, offset by the impact of the weaker Australian dollar and British pound.
Keppel Corp. said Tuesday it has completed the acquisition of all of Beijing Shunxiangren Enterprise Management from Ningbo Jiasheng
Yuecheng Investment Management Center (LP) and Beijing Hanhe Investment Management.
Beijing Shunxiangren, and its wholly-owned subsidiary, Beijing Wanfang Xinye Investment Consulting, are now Keppel’s wholly-owned subsidiaries, the company said in a filing to SGX.
Mapletree Commercial Trust
Mapletree Commercial Trust said Wednesday it was launching its preferential offering of 205.59 million new units at S$2.24 each on the basis of 71 new units for every 1,000 existing units held.
The last date for acceptance of the offer and applications for excess new units is 7 November, the trust said in a filing to SGX. Th enew units are expected to be listed on 15 November, it added.
The trust also distributed the instruction booklet for the offering on Wednesday.
Manulife US REIT
Manulife US REIT said Wednesday it has completed the acquisition of 400 Capital Mall in Sacramento, California. The REIT used US$136 million, or 95.3 percent, of the proceeds of its equity fund raising, Manulife US REIT said in a filing to SGX.
The remaining US$7.3 million of the proceeds were used to fund expenses connected with the acquisition and the equity fundraising, the filing said, adding the net proceeds are now fully utilized.
Far East Hospitality Trust
Far East Hospitality Trust reported Wednesday its third quarter net property income rose 1.3 percent on-year to S$28.06 million on stronger traffic during the peak leisure travel season.
Ascott Residence Trust
Ascott Residence Trust said Tuesday it has paid the redemption price of the S$150 million 5.0 percent perpetual notes, which had a first call date of 27 October.
“The securities have been cancelled and redeemed in full,” the trust said in a filing to SGX.
SATS said Tuesday it has completed its planned subscription for additional shares in Nanjing Weizhou Airline Food Corp., with wholly owned subsidiary SATS China now owning 50 percent of its issued capital.
CSE Global’s Americas region landed two new oil and gas contracts valued at US$74.7 million, or around S$103.7 million, the technology services company said in a filing to SGX Tuesday.
Maxi-Cash Group’s wholly owned subsidiary Maxi-Cash Property has entered a deal to acquire four properties from property investor 8G Investment for S$23.7 million in cash, the pawnshop operator said in a filing to SGX Tuesday.
Silverlake Axis said Tuesday Finzsoft’s shareholders approved joint venture Silverlake HGH’s proposed transfer of Finzsoft shares to its shareholders. Silverlake HGH was a joint venture between Silverlake Axis and HGH (ICT Investments No.2).
As a result, Silverlake Axis will directly hold 3.84 million Finzsoft shares, or a 43.59 percent stake, and the joint venture will no longer hold a Finzsoft stake, the company said in a filing to SGX.
Hercules Pte. has completed the compulsory acquisition of the remaining shares of Hupsteel, making it a wholly owned subsidiary, OCBC said on Hercules behalf in a filing to SGX Tuesday.
Hupsteel will be delisted from SGX, the filing said.