These are Singapore companies which may be in focus on Tuesday, 10 August 2021: City Developments, Golden Agri-Resources, AEM Holdings, Frasers Property, Yanlord Land, Ascendas REIT, Temasek Holdings, Singapore Post (SingPost), IREIT Global, Dasin Retail Trust, Maxi-Cash, Centurion and Singapore Land Group.
This item was originally published on Monday, 9 August 2021 at 10:45 a.m. SGT; it has since been updated to include ESR REIT, Dasin Retail Trust, Lendlease Global Commercial REIT, IREIT Global and EC World REIT.
Singapore’s market was closed on Monday, 9 August 2021 for the National Day holiday.
City Developments warned Friday it expected to report a potential net loss of up to S$35 million for the first half, swinging from a year-ago net profit of S$3.1 million as the Covid-19 pandemic continued to weigh on results.
Golden Agri-Resources said Sunday its 56.27 percent-owned subsidiary, Gemini Edibles & Fats India, or GEF, has started the process to list on India’s BSE and National Stock Exchange, filing its draft red herring prospectus.
Singapore state-owned investment company Temasek Holdings will subscribe for 26.8 million new shares of semiconductor-test provider AEM Holdings at S$3.8477 each to raise S$103.1 million, the Singapore-listed company said in a filing to SGX Friday.
IREIT Global reported Friday its first half net property income increased 23.4 percent on-year to 19.33 million euros mainly on the acquisition of Spanish properties in October.
Frasers Property has S$1.8 billion in pre-sold revenue for its residential developments across Singapore, Australia, China and Thailand, and the company is actively managing developments’ timeline amid challenging operating conditions, the property developer said Friday in its fiscal nine-month business update filed to SGX.
The company’s hospitality assets with a long-stay base have continued to show resilience, with recovery plans being developed amid an evolving Covid-19 pandemic situation, Frasers Property said.
ESR REIT said Tuesday it has launched a preferential offering of around 124.1 million new units to raise around S$50 million. Unitholders who wish to accept their allotments and apply for excess units will need to do so by 18 August, ESR REIT said in a filing to SGX.
Lendlease Global Commercial REIT
Lendlease Global Commercial REIT reported Tuesday its fiscal second half net property income increased 10 percent on-year to S$26.53 million on lower rental waivers at the 313@somerset property as Singapore’s economy began to reopen and higher revenue from the Sky Complex property due to foreign exchange.
Yanlord Land reported Friday its total contracted pre-sales from residential, commercial and car park units for July amounted to around 2.93 billion yuan on gross floor area of 101,202 square meters, down 50.9 percent and 39.3 percent, respectfully, on-year.
Read Yanlord Land’s operating update for July.
Ascendas REIT and Temasek
An investment fund managed by Singapore state-owned investment company Temasek Holdings’ subsidiary SeaTown acquired 423,400 units of Ascendas REIT for S$1.32 million in a market transaction, Temasek said in a filing to SGX Friday.
That increased Temasek’s deemed interest in Ascendas REIT to 21 percent, or 881.26 million units, the filing said, noting Temasek doesn’t hold any of the units directly.
EC World REIT
EC World REIT reported Friday its second quarter net property income increased 8.1 percent on-year to S$27.94 million on positive straight-line adjustments and a stronger yuan.
Centurion Corp. warned Friday its first half net profit likely tumbled around 58 percent on-year from the S$21 million reported in the year-ago period due to the impact of the Covid-19 pandemic on its accommodation assets.
Singapore Post’s wholly owned subsidiary SingPost Investments created an associated company called Paya Lebar Central Partnership (PLCPL) with two other entities: Milano Central, which is one of the joint developers of Paya Lebar Quarter, and with Paya Lebar Square, which is a subsidiary of Singapore-listed builder Low Keng Huat (Singapore).
Each party will have a one-third stake in PLCPL, which was incorporated under the Urban Redevelopment Authority’s program to rejuvenate the Paya Lebar Central Precinct area, SingPost said in a filing to SGX Friday.
IREIT Global said Friday it entered a deal to divest a multi-storey car park on the Darmstadt Campus in Frankfurt, Germany, to Parkhaus DA GmbH for 9.5 million euros, or around S$15.2 million in cash.
BNP Paribas Real Estate Consult GmbH had valued the property at 8.6 million euros at end-June, putting the deal at 10.5 percent above valuation, IREIT Global said in a filing to SGX.
In a separate filing, IREIT Global said its units will begin trading in both euros and Singapore dollars on SGX, effective 17 August; previously, the units only traded in Singapore dollars.
Dasin Retail Trust
Dasin Retail Trust reported Monday its first half net property income increased 26.3 percent on-year to S$38.2 million, mainly on higher rental income, the recovery from the Covid-19 impact and contributions from two malls acquired in July 2020.
Dasin Retail Trust
Aqua Wealth Holdings has disposed of 108,000 units of Dasin Retail Trust for S$52,280 after CGS-CIMB Securities (Singapore), which held the units under a share pledge arrangement for share margin financing facilities, exercised its margin call on the units over 3-5 August, according to a filing to SGX Saturday.
Aqua Wealth Holdings, which is part of the Zhang Family Settlement trust, remains a substantial shareholder of the trust, with a deemed 53.45 percent stake, or 418.03 million units, the filing said. Zhang Zhencheng, the settler of the family trust and the sole member of the trust’s investment committee, holds 99 percent of Dasin Retail Trust Management, the filing said.
Singapore Land Group
Singapore Land Group has appointed Eu Zai Jie, Jonathan, the company’s current chief operating officer, to the role of CEO, effective 1 September, the property developer said in a filing to SGX Friday.
Eu, age 39, will be responsible for the overall management of the group and will continue to work with Lim Wee Sin, group CEO of UOL, Singapore Land’s holding company, the filing said. He is related to Singapore Land directors and substantial shareholder, as Chairman Wee Cho Yaw is his grandfather and Director Wee Ee Lim is his uncle, the filing said.
Pawnbroker Maxi-Cash reported Friday its first half net profit dropped 20 percent on-year to S$8.0 million, mainly on higher staff costs and depreciation costs as the business expanded locally and regionally.