UPDATE: Singapore stock briefs Friday: KORE, Hotel Grand Central, FSL Trust, Q&M, Hiap Hoe, SingHaiyi, Asiatravel

Mural of construction gear in Singapore's Little India neighborhood.Mural of construction gear in Singapore's Little India neighborhood.

These are Singapore companies which may be in focus on Friday, 20 August 2021: Hotel Grand Central, First Ship Lease Trust, Asiatravel.com, Q & M Dental Group, Hiap Hoe, SingHaiyi Group and Kitchen Culture.

This item was originally published on Friday, 20 August 2021 at 12:59 a.m. SGT; it has since been updated to include Keppel Pacific Oak US REIT (KORE).

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT (KORE) said Friday it has completed the acquisitions of two office buildings, Bridge Crossing in Nashville, Tennessee, and 105 Edgeview in Denver, Colorado. The completions bring the portfolio to 15 freehold office buildings and business campuses in the U.S., KORE said in a filing to SGX.

In addition, KORE said it has used US$62.3 million of the proceeds of its private placement of 88.68 million new units at US$0.733 each to partially fund the acquisitions.

Read more: Keppel Pacific Oak US REIT to acquire Nashville, Denver properties for US$105.1M

Hotel Grand Central

Hotel Grand Central has sold the Hotel Grand Chancellor, Palm Cove, located in Queensland, Australia, to a third party for A$10.9 million in cash, the Singapore-listed company said in a filing to SGX Thursday.

Read more: Hotel Grand Central sells Queensland hotel for around A$11 million

First Ship Lease Trust

First Ship Lease Trust has entered a deal to acquire the vessel Anuket Amber, an around 9,600 DWT oil/chemical tanker for US$5.0 million and to bareboat charter the vessel to James Fisher Everard Ltd. for eight years, the trust said in a filing to SGX Thursday.

Read more: First Ship Lease Trust to acquire tanker and long-term charterer

Q & M Dental Group

Q & M Dental Group said Thursday it has received SGX approval to list up to 160.98 million bonus shares on the mainboard. The bonus share issue will be on the basis of one bonus share for every five existing shares held, the company has said in previous filings to SGX.

The bonus issue is to increase the share capital base and to reward shareholders, as well as to increase the shares’ accessibility to more investors, encouraging trading liquidity and greater investor participation, Q & M Dental said in an SGX filing on 13 August.

 

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Hiap Hoe

Hiap Hoe’s subsidiary Golden Bay Realty is registered proprietor of 59 strata lots, comprising 21 shops and 38 offices, at Singapore’s Orchard Tower, the Singapore-listed company said in a filing to SGX Thursday, pointing to a Business Times article, “Orchard Towers collective sale committee appoints Edmund Tie, Legal Solutions.”

“Shareholders are advised that there is no certainty that the collective sale of Orchard Towers will proceed or be completed. Accordingly, shareholders are advised to exercise caution in dealings with the shares of the company,” Hiap Hoe said.

SingHaiyi Group

Haiyi Holdings acquired 233.19 million SingHaiyi Group shares for S$20.99 million in an off-market transaction, increasing its direct interest in the company to 70.34 percent from 64.8 percent previously, according to a filing to SGX Thursday.

Chen Huaidan @ Celine Tang, the group managing director of property developer SingHaiyi, is deemed interested in Haiyi Holdings’ stake as she is entitled to exercise control of at least 20 percent of the votes in Haiyi, a separate filing to SGX said.

Her husband, Tang Yigang @ Gordon Tang, is deemed interested in Haiyi Holdings’ stake, and also is deemed interested in the 5.22 percent SingHaiyi stake held by Acquire Wealth Ltd., a separate filing said.

Asiatravel.com

Asiatravel.com has prepared its 2018 financial statements on a going-concern basis, despite its auditors, Ernst & Young, including a disclaimer of opinion, citing material uncertainty, the dormant company said in a filing to SGX Thursday.

Read more: Asiatravel expects to remain going-concern after creditor deal

Kitchen Culture

SGX RegCo said Thursday it has directed Kitchen Culture to appoint a suitable independent special auditor to review matters including the lodging of a police report with the Commercial Affairs Department (CAD) of the Singapore police over suspected payroll irregularities of around S$520,000.

Other matters to be reviewed would include whistleblowing policies and internal controls, with the special auditor to make recommendations to remedy internal control weaknesses and to clearly set out the circumstances of the potential breaches, SGX RegCo said in a filing to SGX.

 

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