UPDATE: Singapore stock briefs Thursday: ART, AA REIT, Singtel, Olam, Libra, Alliance Healthcare, NutryFarm, MNACT, NeraTel, Miyoshi

Singapore CBDSingapore CBD

These are Singapore companies which may be in focus on Thursday, 9 September 2021: Libra Group, Alliance Healthcare, NutryFarm International, Mapletree North Asia Commercial Trust (MNACT), Nera Telecommunications, Miyoshi, Acesian Partners, Metech International and Koon Holdings.

This item was originally published on Thursday, 9 September 2021 at 12:38 a.m. SGT; it has since been updated to include Ascott Residence Trust, Singtel, AIMS APAC REIT (AA REIT) and Olam International.

AIMS APAC REIT

AIMS APAC REIT is in exclusive due diligence to acquire the Woolworths headquarters located in Bella Vista in northwest Sydney, Australia, the REIT said in a filing to SGX Thursday to clarify media reports.

Read more: AIMS APAC REIT in exclusive talks to acquire Sydney headquarters of Woolworths

Ascott Residence Trust

Ascott Residence Trust has agreed to acquire a 1,005-bed student accommodation asset in Texas for US$70 million, or around S$93.8 million, marking its third investment in the sector in the past seven months, the trust said in a filing to SGX Thursday.

The deal will be partially financed with the proceeds of a private placement, ART said.

Read more: Ascott Residence Trust to acquire Texas student accommodation property for US$70M

Olam International

Olam International has tapped Niall FitzGerald as chair of the board of directors for operating group, Olam Food Ingredients (OFI), effective Thursday, the agri-business company said in a filing to SGX Thursday.

FitzGerald has worked with Unilever as an executive for 37 years, including 18 years as an executive board member the filing said.

OFI was created early last year as part of the company’s re-organization and in the first half of next year, the unit plans to seek a primary listing on the London Stock Exchange’s premium segment, with a concurrent secondary listing in Singapore, the filing said.

Read Olam International’s statement on the appointment of Niall FitzGerald

Singtel

Singtel associate Thailand-based Advanced Info Service (AIS) has agreed to settle a dispute with Thailand’s National Telecom (NT) by paying a settlement of 447.87 million baht, according to a statement from AIS filed to SGX.

Singtel holds an around 23 percent stake in AIS.

Read the statement from AIS.

Libra Group

Libra Group has entered a legally binding letter of intent for potential investor Tianci International to invest S$2 million in cash for an at least 70 percent stake via the issuance of new shares, the company said in a filing to SGX Wednesday.

Read more: Libra Group enters deal for potential investor to take at least 70 percent stake

Alliance Healthcare

Alliance Healthcare Group has entered a deal to acquire 20 percent of healthcare information technology company SG IMED from founders Tsai Yu-Chen (Alex) and Tang Chi Feng (Jerome) for S$630,000, the Singapore-listed company said in a filing to SGX Wednesday.

Read more: Alliance Healthcare enters deal to acquire 20 percent stake in SG IMED

NutryFarm International

Singapore Exchange Regulation (SGX RegCo) has directed NutryFarm International to appoint an independent reviewer to conduct an investigation into the company’s proposed acquisition of First Linkage, including the payment of the refundable deposit of HK$91.4 million; the company’s proposed acquisition of Xinjiang Zhongtong Internet Science; and the advance payments of 26.8 million yuan made to Chengdu Meili Tianyuan Agriculture (MLTY), which have not been repaid since 2019.

Read SGX RegCo’s letter to NutryFarm International.

Mapletree North Asia Commercial Trust

Mapletree North Asia Commercial Trust said Wednesday it has fully redeemed its S$75 million 3.20 percent notes due 8 September, which were issued in 2014 under its US$1.5 billion euro medium term note program.

Nera Telecommunications

Nera Telecommunications said Wednesday its direct subsidiary PT Nera Indonesia entered a deal to dispose of certain equipment and infrastructure to PT Dhost Telekomunikasi Nusantara for 16.3 billion rupiah, or around S$1.5 million.

Read Nera Telecommunications statement on the disposal.

Miyoshi

Miyoshi’s wholly owned subsidiary Miyoshi Technologies Phils. has received a notice from a customer which is a major revenue contributor that it will delist its activity in the Philippines Economic Zone effective end-November, the company said in a filing to SGX Wednesday.

Read more: Miyoshi warns of loss of major project and likely earnings hit

Acesian Partners

Acesian Partners said Wednesday its subsidiary’s factor in Johor, Malaysia, has now been allowed to permitted to resume operations with the full workforce, as it has 80 percent of employees are now fully vaccinated against Covid-19. The company arranged for the vaccinations to be administered by a private healthcare provider and the effort was funded internally, Acesian said in a filing to SGX.

“The permission to operate at full workforce is expected to have material positive impact on the group’s consolidated earnings per share and net tangible assets per share for the current financial year,” Acesian said.

Acesian is a manufacturer of ducts and other specialised exhaust system components.

 

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Metech International

Metech International said Wednesday it issued a notice of revocation of the guarantee provided to Phillip Commodities for any indebtedness Metech’s wholly owned subsidiary Nolash Tech incurred in agreements with Phillip as the contractual counterparty in contracts to buy, sell and deal physical commodities.

Currently, Nolash Tech doesn’t owe Phillip any outstanding amounts, Metech said in a filing to SGX.

Libra Group

Libra Group said Wednesday Goh Keng Haw, age 40, would cease to be non-executive independent director due to other work commitments, effective 2 September.

The company has had seven cessations of appointments over the past 12 months, the filing said.

Koon Holdings

Koon Holdings said Wednesday it had received notification it was removed from the official list of the Australian Securities Exchange (ASX) as the shares had been suspended for a continuous more-than-two-year period and it had exceeded the one-year deadline to file its accounts for the half-year ended 30 June 2020.

As a result of the company no longer being listed on its home exchange of ASX, the secondary listing status on SGX would no longer be valid, Koon Holdings said in a filing to SGX, adding it had applied to SGX to be delisted.

No cash exit offer was made upon the ASX delisting, the filing said.

Read Koon Holdings’ filing to SGX.

 

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