These are Singapore companies which may be in focus on Wednesday, 27 July 2021: Keppel Corp., Parkway Life REIT, Mapletree Industrial Trust and Oxley Holdings.
This item was originally published on Tuesday, 27 July 2021 at 23:46 SGT; it has since been updated to include CapitaLand Integrated Commercial Trust (CICT) , Keppel Pacific Oak US REIT and Chip Eng Seng.
Keppel Capital has secured US$600 million of separate managed accounts (SMAs) from international financial institutions, the asset management arm of Keppel Corp. said in a filing to SGX Tuesday.
CapitaLand Integrated Commercial Trust
CapitaLand Integrated Commercial Trust (CICT) reported Wednesday its first half net property income came in at S$472.16 million on gross revenue of S$645.66 million. The results missed Daiwa’s forecasts.
Mapletree Industrial Trust
Mapletree Industrial Trust reported Tuesday its fiscal first quarter net profit climbed 33.1 percent on-year to S$104.72 million, mainly on the acquisition of 14 data centers in the U.S., the recent acquisition of a Virginia property and the absence of year-ago rental relief provided to tenants.
Keppel Pacific Oak US REIT
Keppel Pacific Oak US REIT plans to acquire two office buildings — Bridge Crossing in Nashville, Tennessee, and 105 Edgeview in Denver, Colorado — for a total of US$105.1 million from two unrelated sellers, the U.S.-focused REIT said in a filing to SGX Wednesday.
The REIT launched a private placement of up to 90.28 million new units at US$0.72 to US$0.743 to raise US$65 million to partly finance the deals.
Parkway Life REIT
Parkway Life REIT reported its second quarter net property income slipped 2.8 percent on-year to S$27.42 million on the divestment of a non-core property in Japan and the depreciation of the Japanese yen.
Oxley Holdings said Tuesday two of its Singapore residential developments — Sea Pavilion Residences and Sixteen35 Residences — received their temporary occupation permits (TOP) in June.
Sea Pavilion Residences, located at 494 Upper East Coast Road, is a fully sold five-storey condominium with 24 units, while Sixteen35 Residences, located at 16 Lorong 35 Geylang, is a fully-sold eight-storey residential and mixed-use development with 60 apartments, Oxley said in a filing to SGX.
Three out of Oxley’s 10 residential projects in Singapore have obtained TOP, the filing said.
Chip Eng Seng
Chip Eng Seng said Wednesday only its investment in Guangzhou Yuanda Information Development is involved in the China tuition business, with its other education-related ventures on the mainland not in that sector.
The announcement comes as China has introduced measures requiring core subject tuition providers to register as non-profit organisations, with restrictions on foreign investment.
Yuanda, in which Chip Eng Seng holds a 34.97 percent stake, will likely be impacted as its main product offering is online and onsite tutoring in math, the company said in a filing to SGX.
The carrying value of the company’s China education-related investments is around S$17.6 million, with around S$11.7 million related to Yuanda, Chip Eng Seng said, but noted the revenue from the segment was only around 0.1 percent of its total revenue.