UPDATE: Singapore stock briefs Friday: CapitaLand, SGX, Cromwell European REIT, Del Monte Pacific, Chemical Industries (Far East), VCPlus, Lasseters, Raffles Infra

CapitaLand’s Funan mall in SingaporeCapitaLand’s Funan mall in Singapore

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. 

CapitaLand

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.

Read more: CapitaLand sets EGM for vote on restructuring proposal

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.

Read more: Ascott Residence Trust prices private placement at bottom of indicative range

SGX

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.

Read SGX’s statement.

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.

Read more: AIMS APAC REIT taps Lim Joo Lee, formerly at MNACT’s manager, as new CFO

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.

Read more: Cromwell European REIT to divest French property at premium to valuation

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.

Read more: Del Monte Pacific fiscal 1Q swings to net profit

Raffles Infrastructure

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.

Read Raffles Infrastructure’s responses to queries from SGX.

OxPay Financial

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.

Read OxPay’s statement on the deal.

 

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OIO Holdings

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.

Read OIO Holdings’ filing to SGX.

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.

Read Chemical Industries (Far East)’s response to queries from SGX.

VCPlus

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.

Read more: VCPlus enters deal to license HydraX’s digital asset custody technology

Lasseters International

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

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.

Read Abundance International’s filing to SGX.

 

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