These are Singapore companies which may be in focus on Thursday, 14 November 2019: Temasek Holdings, Yangzijiang Shipbuilding, ComfortDelGro, Olam International, Keppel Corp., property, ESR-REIT, Hyflux, Jardine Cycle & Carriage, Banyan Tree Holdings, Eagle Hospitality Trust, Spackman Entertainment, Accordia Golf Trust and Koh Brothers.
This article was originally published on Thursday, 14 November 2019 at 1:00 A.M. SGT; it has been updated to add an item on Singapore Press Holdings and two items on Yoma Strategic. The item on Temasek has since been updated to reflect the bonds’ pricing.
Temasek Holdings’ wholly owned subsidiary Temasek Financial priced 500 million euros of 12-year bonds at 0.50 percent and 500 million euros of 30-year bonds at 1.25 percent amid strong demand, Singapore’s state-owned investment company said in a filing to SGX Thursday.
Yangzijiang Shipbuilding reported Wednesday its third quarter net profit fell 10 percent on-year to 702.26 million yuan on wider losses on associated companies and joint ventures.
ComfortDelGro reported Wednesday its third quarter net profit fell 10.8 percent on-year to S$70 million on lower taxi revenue and unfavorable currency translations.
Singapore Press Holdings
Singapore Press Holdings’ indirect wholly owned subsidiary Straits Nine has entered a deal to acquire a purpose-built student accommodation (PBSA) property in Bremen, Germany, from Liberty Living (Galileo Residenz) for 15.56 million euros, or around S$23.37 million, the media and property company said Thursday.
Olam International reported Wednesday its third quarter net profit fell 1.5 percent on-year to S$20.37 million, hit by changes to accounting for leases.
Singapore’s The Arcade property will be put up for a collective sale via tender for a reserve price of S$780 million, Colliers International said Wednesday.
Keppel Capital’s wholly owned subsidiary KC Management One has entered a deal to acquire 50 percent of Pierfront Capital Fund Management from Pierfront Capital Mezzanine Fund (PCMF) for US$7.8 million, or around S$10.8 million, in cash, Keppel said Wednesday.
Ayala Corp. will invest up to US$237.5 million to take an up to 20 percent stake in each of Yoma Strategic and its affiliated company, Yangon-listed First Myanmar Investment (FMI), Yoma Strategic said in a filing to SGX Thursday.
Yoma Strategic Holdings reported Thursday its fiscal second quarter swung to a net loss of US$43.33 million from a year-earlier net profit of US$29.88 million as property development revenue fell sharply.
ESR-REIT and Hyflux
ESR-REIT said Wednesday it has drawn down the bank guarantees provided by tenant Hyflux Membrane Manufacturing (S) under its lease agreement for the 8 Tuas South Lane property.
“As the bank guarantees are expiring soon, ESR-REIT has drawn down the bank guarantees and will apply the proceeds towards Hyflux Membrane’s contractual obligations under the lease agreements,” the REIT said in a filing to SGX.
Under the lease agreements, ESR-REIT hold security deposits equivalent to three months of rental in the form of bank guarantees of around S$2.1 million, the filing said.
Jardine Cycle & Carriage
Jardine Cycle & Carriage said Wednesday its tender offer for shares of Vietnam-based Refrigeration Electrical Engineering (REE) has resulted in the acquisition of 12.6 million shares at 45,000 dong a share for a total consideration of 567.2 billion dong, or around US$24.4 million.
That brought Jardine C&C’s stake in REE to 28.97 percent from 24.90 percent previously, the company said in a filing to SGX.
Banyan Tree Holdings
Banyan Tree Holdings said Kuan Chiet has ceased to be chief financial officer, effective Wednesday.
Kuan Chiet will return to the group’s largest operation in Phuket to head a new property leasing unit, Banyan Tree said in a filing to SGX Wednesday.
Eagle Hospitality Trust
Eagle Hospitality Trust reported Wednesday its third quarter net property income came in at US$20.07 million, 2.7 percent below the forecast from its IPO prospectus.
Spackman Entertainment Group reported Wednesday a third quarter net loss of US$790,000, narrowing from a US$925,000 net loss in the year-ago period as higher revenue offset higher costs.
Accordia Golf Trust
Accordia Golf Trust reported Wednesday its fiscal second quarter net profit surged 250.7 percent on-year to 1.22 billion yen on improved performance of the golf courses.
Koh Brothers said Wednesday its indirect wholly owned subsidiary G & W Industrial has sold its 35 percent stake in Hi Con (S) for S$460,000.