The stocks to watch item will be on hiatus from 6 December 2019.
These are Singapore companies which may be in focus on Tuesday, 3 December 2019: Frasers Commercial Trust, Frasers Logistics & Industrial Trust, UOB, Ascendas REIT, Mapletree Commercial Trust, Temasek, Prime US REIT, Sinarmas Land, Yoma Strategic, BreadTalk, MindChamps PreSchool and Sunvic Chemical.
This article was originally published on Monday, 2 December 2019 at 22:38 SGT; it has since been updated to include Olam International.
Olam International’s wholly owned subsidiary Olam Orchards Australia (OOA) has entered a deal to sell 89,095 metaliters of its permanent water rights in Australia to a related entity of Public Sector Pension (PSP) Investment Board for A$490 million, or around US$332.5 million, the agri-business said in a filing to SGX Tuesday.
Frasers Commercial Trust and Frasers Logistics & Industrial Trust
Shares of Frasers Commercial Trust ended Monday up 2.4 percent at S$1.71, while shares of Frasers Logistics & Industrial Trust ended flat at S$1.24 after rising as high as S$1.29 intraday. The trading halt on units of both REITs was lifted after the midday break.
That was after the two REITs announced Monday they plan to merge in a S$1.54 billion deal, creating a diversified S$5.7 billion portfolio of industrial, office, business park and commercial assets across Asia Pacific, Europe and the U.K.
UOB’s wholly owned subsidiary UOB Asset Management has entered a deal to acquire 1.13 million shares, or around 24.53 percent, of VAM Vietnam Fund Management from Nguyen Xuan Minh, the bank said in a filing to SGX Monday.
Ascendas REIT said Monday its rights issue of 679.09 million units to raise S$1.31 billion met with strong demand, with total applications for around 136 percent of the total available.
Mapletree Commercial Trust and Temasek
Temasek Holdings’ deemed interest in Mapletree Commercial Trust has increased to 33.18 percent from 32.93 percent after Fullerton’s acquisition of 8.07 million units in the market for S$19.62 million, Singapore’s state-owned investment company said in a filing to SGX Monday.
Fullerton, which acquired the units as an investment manager, is an indirect subsidiary of Temasek, the filing said. Temasek does not have a direct interest in the units.
Prime US REIT
Prime US REIT has been included in the MSCI Singapore Small Cap Index as of 26 November, the U.S. office REIT said in a filing to SGX Monday.
Sinarmas Land said Monday its wholly owned subsidiary Golden Ray Development has subscribed for 6.04 million stapled securities, or an around 6 percent stake, in a Mapletree Australia Commercial Trust called MASCOT Private Trust, which includes the Mapletree ROA Trust and the Mapletree QL Trust.
The total subscription price was A$40 million, or around S$37 million, Sinarmas Land said in a filing to SGX.
MASCOT owns 10 grade-A office assets in Australian gateway cities Sydney, Melbourne, Adelaide, Brisbane and Perth, with a total asset value of around A$1.4 billion, the filing said.
Yoma Strategic has completed the placement of 332.5 million new shares to VIP Infrastructure Holdings, an indirect wholly owned subsidiary of Ayala Corp., in the first tranche of a deal that will see the Philippine conglomerate end up with an up to 20 percent stake in the Singapore-listed company, Yoma said in a filing to SGX Monday.
BreadTalk said Monday its wholly owned subsidiary BreadTalk International (BTI) and PT Pura Indah Berkat (PT PIB) have mutually agreed to terminate their joint venture agreement.
Once the joint venture is terminated, PT PIB will transfer its 30 percent stake in the joint venture company, PT BTG Pura Indah Berkat Venture, to BreadTalk Pte. Ltd. (BPL), a wholly owned subsidiary of BreadTalk, for US$1.00, the bun maker said in a filing to SGX.
BTI and BPL will hold 70 percent and 30 percent, respectively, of the joint venture company, which will continue to operate the Toast Box outlet chain in Indonesia, the filing said.
MindChamps PreSchool Singapore has entered a deal to sell MindChamps PreSchool @ Changi Business Park to Yirong Education for S$1.03 million, the preschool operator said in a filing to SGX Monday.
After the deal is completed, Yirong Education is expected to continue to operate the preschool on a franchise basis and pay royalties to MindChamps PreSchool Singapore, the parent company said.
Sunvic Chemical Holdings
Sunvic Chemical Holdings said Monday its Executive Director and CEO Yang Guoqiang has resigned, effective 28 November, in line with the audit committee’s recommendation due to letters of demand received by the company’s wholly owned subsidiaries.
The letters of demand were related to corporate guarantees provided to unrelated parties in early November, Sunvic said in a filing to SGX.