These are Singapore companies which may be in focus on Friday, 10 September 2021: CapitaLand, Singapore Exchange (SGX), Cromwell European REIT, Lendlease Global Commercial REIT, Del Monte Pacific Ltd. (DMPL), Raffles Infrastructure, OxPay Financial, OIO Holdings, Chemical Industries (Far East), VCPlus, Lasseters International, Zhongmin Baihui Retail Group and Abundance International.
This item was originally published on Friday, 10 September 2021 at 1:24 a.m. SGT; it has since been updated to include AIMS APAC REIT and Ascott Residence Trust.
Shares of CapitaLand traded for the last day on Thursday and will be suspended from Friday as part of the proposed strategic restructuring of the company, the property developer said in a filing to SGX.
Ascott Residence Trust
Ascott Residence Trust priced its private placement at S$0.983 a stapled security, the bottom of the S$0.983 to S$1.014 indicative range even as the offering was around two times covered amid interest from new and existing institutional and other accredited investors, the trust said Friday.
Singapore Exchange (SGX) on Thursday welcomed Korea Investment & Securities (KISCL) as a trading member of its derivatives market.
“We look forward to working with KISCL to expand their comprehensive range of financial and banking products and services, to meet the investment and risk management needs of their domestic and international investors,” Pol de Win, senior managing director and head of global sales and origination at SGX, said in a filing to the exchange.
Taehong Park, managing director at KISCL’s derivatives department, added his firm would now be able to offer South Korean investors an expanded suite of derivatives across multiple assets, providing a competitve advantage.
AIMS APAC REIT
AIMS APAC REIT said Friday Lim Joo Lee will be appointed chief financial officer of the REIT’s manager as the current CFO Stella Yeak has tendered her resignation.
Cromwell European REIT
Cromwell European REIT said late Thursday it has completed the divestment of the property known as Parc de Popey in Bar-le-Duc, France, for 5.8 million euros.
“While CEREIT remains a long-term holder of real estate, the sale of the French asset is consistent with the manager’s proactive asset management strategy to improve the risk-return quality of CEREIT’s portfolio,” the REIT said in a filing to SGX.
Lendlease Global Commercial REIT
Lendlease Global Commercial REIT said Thursday it has completed the acquisition of a 2 percent stake in Lendlease Asian Retail Investment Fund 3 from Lendlease International for S$18.3 million, bringing its total stake in the fund to 7 percent and giving it an effective 18.5 percent indirect interest in the Jem property in Singapore.
Del Monte Pacific
Del Monte Pacific Ltd. (DMPL) reported Thursday its fiscal first quarter swung to a net profit of US$18.32 million, compared with a year-earlier loss of US$3.25 million on higher sales and a higher profit margin.
In response to a query from SGX, Raffles Infrastructure said its fiscal 2021 total revenue tumbled to 25.2 million yuan from 188 million yuan in the previous fiscal year was mainly due to one road parcel being completed and accepted by the client during the most recent fiscal year.
That compared with five road parcels in the previous fiscal year, Raffles Infrastructure said in a filing to SGX.
The company noted it started two additional road parcels in fiscal 2021, and another four new road parcels have been scheduled for fiscal 2022. “Therefore, the revenue is expected to be increased by the end of 2021 onwards,” Raffles Infrastructure said.
Payments player OxPay Financial, the company formerly known as MC Payment, said Thursday it set up contactless digital ordering and payment services for Eatbox, which is a 9,500 square foot food hall at Tekka Place featuring 20 oooths and four kiosks offering international food.
OIO Holdings said Thursday it entered a subscription agreement to issue 894,841 new shares, or around 0.5 percent of its total issued shares, to Makoto Matsumura at S$0.601 each to raise US$400,000, or around S$537,800.
“The subscriber was looking for investment opportunities in the blockchain industry and is interested in investing in the growth of the group’s blockchain business via the proposed subscription,” OIO Holding said in a filing to SGX.
The proceeds will be used to finance business expansion and for working capital and general corporate purposes, OIO said in the statement.
Chemical Industries (Far East)
In response to a query from SGX seeking detailed reasons for the cessation of Lin Yinjun Benjamin as general manager, Chemical Industries (Far East) said: “The managing director (MD) of the company, Mr. Lim Soo Peng, had decided to terminate Mr. Benjamin Lin’s employment as general manager (GM) as he was dissatisfied with the GM’s performance and was no longer able to continue to work with him.”
“In addition, the termination of Mr. Lin, who is the grandson of the MD, will assist in facilitating with the MD’s previously stated plans to
professionalise the management of the company,” Chemical Industries (Far East) said in the filing to SGX Thursday.
Shenton Wire was unable to immediately determine contact details for Lin to seek comment.
VCPlus has entered a deal with HydraX to license its digital asset custody technology for digital-asset tokens and related services, with part of the payment for the licensing fees to be made via a stake in VCPlus, the Catalist-listed company said in a filing to SGX Thursday.
Lasseters International CEO Wong Baan Chun disposed of 200,000 shares of the company at S$0.08151 a share in a market transaction, taking his interest down to 0.06 percent from 0.1 percent previously, according to a filing to SGX Thursday.
Zhongmin Baihui Retail Group
Zhongmin Baihui Retail Group warned Thrusday it expected to report a loss after tax for the six months ended 30 June, mainly due to the Covid-19 pandemic having an adverse impact on the Lvcuo store’s performance.
“This also resulted in an impairment charge to the right of use assets for this store,” the company said in a filing to SGX.
The full results will be released on or before 13 September, the company said.
Correction: An earlier version of this item incorrectly spelled the company name.
Abundance International said Thursday the shareholding interest of its wholly owned subsidiary Abundance Investments in Shanghai Sunrise Polymer Material has fallen to 12.74 percent from 15.61 percent.
That followed Sunrise signing a placement agreement to issue 13.21 million new shares to State Development & Investment Corp., a China state-owned investment holding company, Abundance said in a filing to SGX.