UPDATE: Singapore stocks Monday: CityDev, GENS, SGX, Nanofilm, Temasek, AA REIT, Prime US REIT, APTT, Yinda, Darco Water, Wilmar, Venture, OUE

City Developments building and Lau Pa Sat food court in Singapore’s central business district (CBD); taken October 2018.City Developments building and Lau Pa Sat food court in Singapore’s central business district (CBD).

These are Singapore companies which may be in focus on Monday, 13 September 2021: City Developments, Genting Singapore (GENS), Singapore Exchange (SGX), Nanofilm International, Temasek Holdings, AIMS APAC REIT (AA REIT), Wilmar International, Venture Corp., OUE, OUE Lippo Healthcare, Darco Water Technologies, Accrelist, KTL Global, Ly Corp., Regal International and TEE International.

This item was originally published on Saturday, 11 September 2021 at 16:46 SGT; it has since been updated to include Prime US REIT, Asian Pay Television Trust (APTT), Geo Energy and Yinda Infocomm. 

City Developments

City Developments has entered a deal to exit its holding in Chongqing Sincere Yuanchuang Industry, or Sincere, for US$1, in a move to ring-fence the impact of a troubled investment.

Read more: City Developments to exit Sincere stake for US$1

Genting Singapore

Genting Singapore reported Friday Japan’s Yokohama City published a decision to cancel the integrated casino-resort bid process, meaning the company’s participation in the bid is discontinued.

Read more: Genting Singapore: Yokohama City cancels integrated-resort bid process

Singapore Exchange

Singapore Exchange (SGX) reported Friday its total securities market turnover in August rose 5 percent on-month to S$26.3 billion, the market turnover value of structured warrants and daily leverage certificates (DLC) rose 8 percent on-month to S$622 million, the highest since November 2020.

“An uneven economic recovery in Asia spurred demand to invest and manage risk across multiple asset classes. SGX’s commodity derivatives suite was a standout performer as price swings and supply-chain disruptions continued to challenge physical markets,” SGX said in a statement. “Institutional investors increased their portfolio risk management amid uncertainty over China’s outlook, after manufacturing activity in the world’s second-largest economy contracted in August for the first time in nearly a year-and-a-half.”

Read SGX’s market statistics statement for August.

Nanofilm International and Temasek Holdings

Temasek Holdings’ deemed interest in Nanofilm International has increased to 6.01 percent from 5.95 percent after indirect subsidiary Venezio Investments acquired 351,300 Nanofilm shares for S$1.47 million in a market transaction, according to a filing to SGX.

AIMS APAC REIT

Dragon Pacific Assets cut its stake in AIMS APAC REIT, selling 8.74 million units at S$1.4636 each in a market transaction, taking its direct interest down to 6.95 percent from 8.18 percent previously, according to a filing to SGX from Megaworld.

Dragon Pacific Assets is listed in the ICIJ Offshore Leaks Database of the Panama Papers, which has data up through 2010, as a shareholder of Premium Travellers, which was an intermediary of Megaworld at that time. There are legitimate reasons to have offshore entities and a listing in the database does not imply wrongdoing.

Prime US REIT

Prime US REIT said Monday it is talks with a tenant at its Tower 1 at Emeryville, a subsidiary of WeWork, on resolving its lease obligations amid reports WeWork plans to close its co-working operations there.

Correction: Prime US REIT has not requested a trading halt Monday. An earlier version of this item incorrectly made this statement. 

Read more: Prime US REIT: In talks on WeWork’s lease obligation at Tower 1 at Emeryville

Wilmar International

Wilmar International said Friday it would transfer 926,400 treasury shares, valued at S$2.6 million, for the exercise of share options under the Wilmar executives shares option plan.

Kuok Khoon Hong, chairman and CEO of Wilmar, exercised an option to subscribe for 510,000 Wilmar shares at S$3.04 a shares, for a total of S$1.55 million, taking his total stake to 12.81 percent from 12.8 percent previously, according to a separate filing to SGX Friday. In addition, Teo La-Mei, group legal counsel and an executive director, exercised an option to subscribe for 100,000 Wilmar shares at S$3.04 a share for a total of S$304,000, taking her stake to 0.021 percent from 0.019 percent previously, according to an SGX filing.

Shares of Wilmar ended Friday up 1.21 percent at S$4.18.

Venture Corp.

Venture Corp.’s wholly owned subsidiary Technocom Systems has completed a deal to acquire the existing lease on a property in Johor Bahru, Malaysia, with Johor Corp. extending the duration of the lease an additional 30 years to 2054, the Singapore-listed company said in a filing to SGX Friday.

The deal had been announced in early 2019, but concluding the formalities was protracted, and then exacerbated by Malaysia’s movement control orders (MCO) due to the Covid-19 pandemic, Venture said.

OUE Lippo Healthcare

OUE Lippo Healthcare said Friday Chief Financial Officer Yik Yen Shan Vincent, age 48, has submitted his resignation to pursue other career opportunities. Yik will serve his notice period as stated in his contract, with his last day to be 30 November, the company said in a filing to SGX.

“The company is in the process of finding a suitable replacement for the position of chief financial officer, and will make the necessary announcement when a suitable candidate is appointed,” OUE Lippo Healthcare said.

 

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OUE

OUE said Friday it would redeem on 13 October and then cancel all of its outstanding S$2.25 million convertible bonds due 2023, which were issued in 2018. The redemption is around 1.45 percent of the total principal amount of the convertible bonds originally issued, OUE said in a filing to SGX.

Darco Water Technologies

Singapore Exchange Regulation (SGX RegCo) has directed Darco Water Technologies to disclose a detailed report on the status of the company’s proposed investment in the Gaoyi project, with inputs from legal advisors, by 17 September, according to a letter from the regulator filed to the exchange.

Read more: SGX RegCo directs Darco Water to provide detailed report on Gaoyi project deal

Accrelist

Accrelist has entered a deal to sell a 30 percent stake in its wholly owned subsidiary Accrelist Medical Aesthetics (SPC) to strategic investor Sri Marilyn Tay Bee Choo for S$1 million, the company said in a filing to SGX Friday.

Read more: Accrelist to sell 30 percent Accrelist Medical Aesthetics stake for S$1M

Geo Energy

Geo Energy’s wholly owned subsidiary Geo Coal International (GCI) has issued a notice to redeem all of its outstanding 8 percent senior U.S. dollar bonds due 2022 early, the company said in a filing to SGX Sunday.

Read more: Geo Energy to redeem outstanding notes due 2022 early

Asian Pay Television Trust

Asian Pay Television Trust’s CEO and Executive Director Brian McKinley acquired 400,000 units of the trust at S$0.131 each in a market transaction Friday, increasing his stake to 0.111 percent from 0.089 percent previously, according to a filing to SGX Monday.

KTL Global

KTL Global’s wholly owned subsidiary Tainci Agritech has signed a memorandum of understanding (MOU) with Marine Alliance Services to provide food and beverage catering services and daily necessities for shipping vessels served by Marine Alliance Services, and to provide services such as food sourcing, warehousing and supply-chain management to Marine Alliance Services’ business-to-consumer e-commerce platform.

“Our team has been proactively expanding our business presence in the fresh produce and retail services market in Singapore,” Chin Teck Oon, CEO and executive director of KTL, said in a statement filed to SGX Friday. “This MOU will allow us to target new customers in the maritime industry with new service offerings. In addition, we can potentially harness new opportunities as an integrated service and solutions
provider with the rising trend of online retail platforms.”

Read KTL Global’s statement on the MOU with Marine Alliance Services.

Yinda Infocomm

Yinda Infocomm has entered a deal with The Institute of Machina Learning GmbH (IML) to acquire its intellectual property and software for facial liveness detection, age classification and KYC (know your customer) platform, as well as contracts with key customers and resellers, for 1.5 million euros (around S$2.38 million) in cash and shares, according to a filing to SGX Sunday.

Read more: Yinda Infocomm to acquire IML intellectual property for facial recognition for 1.5M euros

Ly Corp.

In a Covid-19 update, Ly Corp. said Friday most of its factories have resumed full operations, with the exception of two sites which are expected to resume full operations in October.

Malaysia-based Ly Corp. manufactures and exports wooden bedroom furniture.

Regal International

Regal International said Friday it expected to report a loss for 2020, mainly due to the impact of the Covid-19 pandemic and related measures imposed by the local government since the second quarter of 2020. Further details will be provided when the company reports its results, the company said in a filing to SGX, but did not provide a release date.

In a separate filing, Regal said its application for an extension of time to file its results was approved, with the new due date on 27 November.

The company is a property developer based in Sarawak, Malaysia.

TEE International

TEE International said Friday it received a letter from DBS Bank saying the bank would exercise its rights to take possession of the mortgaged property at 33 Changi North Crescent in Singapore in a month.

The company is reviewing the letter with its financial consultant and will take appropriate action, TEE International said in a filing to SGX.

 

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