These are Singapore companies which may be in focus on Thursday, 21 November 2019: CapitaLand, City Developments, Valuetronics, Yanlord Land, OKP Holdings, Synagie Corp. and AEI Corp.
This article was originally published on Wednesday, 20 November 2019 at 23:09 SGT; it has since been updated to include CapitaLand, City Developments, Ascott Residence Trust, CDL Hospitality Trusts, SPH REIT and Swiber.
CapitaLand, City Developments, Ascott Residence Trust and CDL Hospitality Trusts
City Developments and CapitaLand plan to redevelop the Liang Court site after CDL Hospitality Trust agreed to sell its interest in Novotel Singapore Clarke Quay to their 50:50 joint ventures and to City Developments for S$375.9 million, the property developers said in a filing to SGX Thursday.
CapitaLand entered a deal to sell The Star Vista mall to Rock Productions, which owns The Star Performing Arts Centre in the same development, for S$296 million, the property developer said in a filing to SGX Wednesday.
SPH REIT launched a private placement of 156.65 million new units at S$1.031 to S$1.075 each to raise at least S$161.5 million, the REIT said in a filing to SGX Thursday.
City Developments said Wednesday it appointed Kwek Eik Sheng as executive director of Millenium & Copthorne Hotels, effective Monday.
“Having previously been appointed a non-executive director of M&C from April 2008 to October 2019, the board is of the view that with this more active role in M&C, Mr. Kwek Eik Sheng’s financial and senior management experience in real estate and hospitality will further strengthen and support the management team of M&C post-privatisation, to ensure M&C’s smooth integration with CDL,” the company said in a filing to SGX.
Kwek Eik Sheng is a nephew of City Developments’ Executive Chairman Kwek Leng Beng, and a cousin of City Developments’ CEO Sherman Kwek, the filing said.
Kwek Leng Beng, who is Sherman Kwek’s father, was appointed as executive chairman of M&C, effective Monday, after previously holding the role of non-executive chairman while the hotel operator was listed on the London Stock Exchange, City Developments said in a separate filing to SGX.
Valuetronics’ wholly owned subsidiary Valuetronics Vietnam entered a sub-lease deal with Thang Long Industrial Park for a 52,541 square meter plot of land for 93.62 billion Vietnamese dong, or around US$4.05 million, for a 46-year period, the company said Wednesday.
“The group intends to use the land for development of its own Vietnam campus. The infrastructure development of the Vietnam campus will be divided into two phases, with the first phase expected to be completed by the first half of calendar year 2021,” Valuetronics said in a filing to SGX.
“The group will be injecting further capital to fully develop the infrastructure of the Vietnam campus in due course,” it added.
Yanlord Land’s 30 percent owned joint venture, Hangzhou Keyi Property Development, has set up a new wholly owned entity in Hangzhou, China, called Hangzhou Yingci Keyi Hospital, with a registered capital of 20 million yuan, the Chinese property developer said in a filing to SGX Wednesday.
Hangzhou Yingci Keyi Hospital will primarily provide medical and hospital related services, Yanlord said.
Swiber Holdings said Thursday its judicial managers have requested an extension of the judicial management period to 30 June 2020.
A hearing on the request has been set for 25 November at the High Court, the company said in a filing to SGX.
OKP Holdings’ wholly owned subsidiary OKP Land entered a deal to dispose of its 10 percent interest in CS Amber Development for S$11 million, which would mark settlement of the S$11.2 million CS Amber owes to OKP Land, the company said in a filing to SGX Wednesday.
The book value of OKP’s CS Amber investment was S$9.8 million, including a loan to CS Amber, as of end-September, and the deal will lead to a gain of around S$1.2 million, the filing said.
After the completion of the deal, CS Amber, which is the developer of the Amber Sky condominium project, will cease to be an associate of OKP Holdings, the filing said.
Ng Yew Nam became a substantial shareholder of Synagie Corp. after acquiring 1.25 million shares for S$156,883 in a market transaction, Ng said in a filing to SGX Wednesday.
The transaction brought Ng’s direct interest to 5.21 percent from 4.74 percent previously, the filing said.
Ho Kee ceased to be a substantial shareholder of AEI Corp. after disposing of 175,100 shares in the market for S$139,444, he said in a filing to SGX Wednesday.
The disposal brought his direct interest to 4.9 percent from 5.11 percent previously, the filing said.