Singapore stock briefs Wednesday: CDLHT, Olam, City Developments, MCL Land, ST Engineering, Uni-Asia, Delfi

Buddhist and Hindu Temples in Singapore’s Geylang neighborhoodBuddhist and Hindu Temples in Singapore’s Geylang neighborhood

These are Singapore companies which may be in focus on Wednesday, 1 September 2021: CDL Hospitality Trusts (CDLHT), Olam, ST Engineering, City Developments, MCL Land, First REIT, Ascendas REIT, Uni-Asia Group and Delfi.

CDL Hospitality Trusts

CDL Hospitality Trusts has entered a land-purchase and development-funding deal to invest in a residential build-to-rent project in Manchester, U.K., for 73.3 million British pounds, or around S$136 million, marking its first foray into an adjacent lodging segment.

Read more: CDL Hospitality Trusts to invest S$136M in Manchester build-to-rent development project

Olam

Olam International has secured three committed loan facilities for a total of US$5.2 billion, the Singapore-listed agribusiness said in a filing to SGX Tuesday.

Read more: Olam gets US$5.2B financing to facilitate reorganisation

ST Engineering

ST Engineering said Tuesday Lim Serh Ghee, group chief operating officer and chief commercial officer, will retire effective 30 October.

Lim, age 61, will relinquish the role of chief commercial officer on 1 September, and will remain chief operating officer and a member of the group executive committee until his retirement on 30 October, ST Engineering said in a filing to SGX.

City Developments an MCL Land

City Developments and MCL Land have arranged S$847 million in green loans to finance two upcoming Singapore developments under their 50:50 joint venture, the two property developers said in a press release Tuesday.

Read more: City Developments and MCL Land get S$847M in green loans

City Developments

Millennium & Copthorne Hotels New Zealand, a New Zealand-listed subsidiary of City Developments, said Tuesday all of its owned and operated hotels in the country, except for the ones operating as managed isolation facilities, are currently closed and have been since the start of the Level 4 lockdown.

The changed alert levels for areas south of Auckland and Northland, effective this week, won’t allow hotels outside those areas to reopen, with the exception of very limited essential services, the company said in a statement filed to SGX.

Cancellations have exceeded 9,000 nights across all of the properties, with the current estimated revenue lost to affect profitability of the hotel operations, Millennium & Copthorne Hotels NZ said.

Read Millennium & Copthorne Hotels New Zealand’s full statement.

First REIT

First REIT said Tuesday it has completed the divestment of the property called Sarang Hospital and all of the shares of Kalmore (Korea).

Read more: First REIT to divest Sarang Hospital, exiting South Korea

Ascendas REIT

Ascendas Funds Management (S), the manager of Ascendas REIT, has appointed Ong Lee Keang Maureen, age 67, as non-executive independent director and a member of the audit and risk committee, effective 1 September, according to a filing to SGX Tuesday.

Ong was an advisor to The Straits Trading Co. for 2012-13 and from 2009-2012, she was group chief financial officer and company secretary for that company, the filing said, adding she is currently with Singapore LNG Corp.

Uni-Asia Group

Uni-Asia Group’s subsidiary Uni-Asia Investment, along with Shinsei Bank Group’s Showa Leasing and Japan Asia Investment have made a Tokumei Kumiai (TK), or silent partner, investment in Godo Kaisha GH Property, a fund set up to invest in developing and operating group homes for people with disabilities in Japan.

Read more: Uni-Asia invests in Japan property fund set to develop and operate group homes

Delfi

Marathon Asset Management has ceased to be a substantial shareholder of Delfi after disposing of 1.53 million shares at S$0.8101 each in a market transaction this week, according to a filing to SGX Tuesday.

The stake held by Marathon Asset Management, a global investment manager focusing on fixed income and credit, fell to 4.89 percent from 5.14 percent previously, the filing said.