UPDATE: Singapore stock briefs Friday: SGX, S-REITs, Olam, Yangzijiang, Singtel, SingPost, AEM, Global Palm, Mary Chia

Signage at the SGX building on Shenton Way in Singapore; taken October 2018.Signage at the SGX building on Shenton Way in Singapore; taken October 2018.

These are Singapore companies which may be in focus on Friday, 3 September 2021: Singapore Exchange (SGX), Olam, Singtel, Yangzijiang Shipbuilding, Singapore Post (SingPost), AEM Holdings, Global Palm Resources, Mary Chia Holdings and Abundance International.

This item was originally published on Thursday, 3 September 2021 at 2:21 a.m. SGT; it has since been updated to include an item on ARA LOGOS Logistics Trust.

S-REITs

A host of Singapore REITs were added to the FTSE EPRA Nareit Global Developed Index in its latest review, in a development likely to bring the city-state’s smaller REITs more attention from global investors.

Read more: Slew of S-REITs added to FTSE EPRA Nareit Global Real Estate Index series

Singapore Exchange

Singapore Exchange (SGX) announced Thursday new rules to allow special purpose acquisition companies (SPACs) to list on the mainboard, effective Friday.

Read more: SGX to allow SPACs to list in Singapore

Straits Times Index

FTSE Russell said Thursday there would be no changes to the constituents of the Straits Times Index (STI) after its September quarterly review.

The STI reserve list — the five highest-ranking non-constituents of the index by market capitalisation — are Olam International, Suntec REIT, Keppel REIT, Frasers Centrepoint Trust and NetLink NBN, the index provider said in a filing to SGX.

Olam

Olam International has issued 9 billion yen, or around US$81 million, in five-year notes due 2026 via a private placement, the global food and agri-business company said in a filing to SGX Thursday.

Read more: Olam issues 9 billion yen five-year notes due 2026 in private placement

Singtel

Singtel said Thursday its joint venture company, PT Telekomunikasi Selular (Telkomsel), entered a deal to sell 4,000 telecom towers to PT Dayamitra Telekomunikasi (Mitratel) for 6.2 trillion rupiah, or around S$580 million.

Under the deal, Telkomsel entered a 10-year lease transaction with Mitratel for rental of tower space, Singtel said in a filing to SGX. Singtel has a 35 percent interest in Telkomsel.

“The transaction will allow Telkomsel to optimise its capital structure as Telkomsel focuses on its core business of providing digital connectivity services to customers in Indonesia,” Singtel said.

Read Telkomsel’s statement on the deal.

ARA LOGOS Logistics Trust

In response to a query from SGX, ARA LOGOS Logistics Trust attributed the sharp rise in its unit price Thursday to the trust being added to the FTSE EPRA Nareit Global Developed Index.

On Thursday, shares rose as high as S$0.95 amid a surge of volume to 27.8 million shares from Wednesday’s close of S$0.895. Average volume for the units is around 3.7 million, according to Yahoo Finance data.

While the trust’s manager said it wasn’t aware of any other information that could explain the sharp move, it added it is continually reviewing opportunities related to re-balancing and growth in the portfolio.

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding said Thursday its previously announced letter of intent with Seaspan Corp. for five LNG dual-fuel 7,000TEU containerships has been declared effective.

In addition, an order for building and delivery of one 82,000DWT unit was secured in August, Yangzijiang said in a filing to SGX.

 

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AEM Holdings

James Toh Ban Leng, once AEM’s largest shareholder and currently its non-executive, non-independent director, has ceased to be a substantial shareholder of the company, with his total interest falling to 4.7 percent from 5.15 percent previously, while still holding the same number of shares.

The decline followed AEM issuing 26.8 million new shares to Venezio Investments, a subsidiary of Singapore state-owned investment company Temasek Holdings, the company said in a filing to SGX Thursday.

Read more: Temasek to invest S$103M in AEM private placement

SingPost

Singapore Post’s wholly owned subsidiary SingPost Investments has entered to deal to sell General Storage Co. (GSC) to Tokyo-listed Mitsuuroko Group’s subsidiary Triforce Investments for around S$85.1 million, the Singapore post office operator said in a filing to SGX Thursday.

Read more: SingPost to sell General Storage to Mitsuuroko subsidiary for around S$85M

Global Palm Resources

Global Palm Resources’ 95 percent-owned Indonesian subsidiary PT Prakarsa Tani Sejati entered a deal to buy the right to purchase an office unit in South Jakarta for around 79.2 million rupiah, or around S$7.4 million, in cash, the company said in a filing to SGX Thursday.

Read more: Global Palm Resources enters deal to acquire South Jakarta office space for S$7.4M

Mary Chia Holdings

Mary Chia Holdings has entered a non-binding memorandum of understanding (MOU) to acquire an around 5 percent stake in telemedicine player Mobile-Health Network Solutions (MHNS), the Singapore-based skincare and weight-loss retailer said in a filing to SGX Thursday.

Read more: Mary Chia Holdings enters non-binding deal to acquire stake in telemedicine player

Abundance International

Abundance International said Thursday its subsidiary Abundance Investments’ stake in Shanghai Sunrise Polymer Material has fallen to 15.61 percent from 18.18 percent due to Sunrise issuing new shares for cash as part of a share ownership program for certain employees.

Sunrise specialises in producing specialty chemicals, mainly for the construction industry, Abundance said in a filing to SGX.

 

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