These are Singapore companies which may be in focus on Thursday, 15 September 2021: Singapore Exchange (SGX), Keppel Corp., Keppel REIT, ComfortDelGro, CapitaLand, iFAST, OKP Holdings, International Cement Group, Raffles Infrastructure, Blumont Group and Fragrance Group.
Singapore Exchange (SGX) and The Stock Exchange of Thailand (SET) have launched a tie-up to allow depository receipts (DR) representing shares in SGX-listed securities to trade on SET and vice versa, marking an advancement in Southeast Asian securities market cooperation, the companies said in a statement Wednesday.
Keppel Electric and Electricite Du Laos (EDL) have entered a framework agreement to explore importing renewable energy into Singapore, the companies said in a filing to SGX Wednesday.
Keppel REIT has priced S$150 million notes due 2028 at 2.07 percent, as the series 005 issued under the REIT’s S$1 billion multicurrency debt issuance program, the REIT said in a filing to SGX Wednesday.
ComfortDelGro’s wholly owned subsidiary Moove Media (MMPL) has entered a deal to sell all of Moove Media Australia (MMA) to ComfortDelGro’s wholly owned Australian subsidiary ComfortDelGro Corp. Australia (CCA) for A$1.7 million in cash, the land-transportation company said in a filing to SGX Wednesday.
The deal is part of the restructuring of ComfortDelGro’s businesses in Australia, the filing said. After the deal, MMPL will focus on advertising opportunities in Singapore, while MMA will support CCA’s advertising activity in Australia, the filing said.
CapitaLand said Wednesday that under its restructuring plan, it expected the payment of the cash consideration and the crediting of CapitaLand Investment shares and CapitaLand Integrated Commercial Trust units to shareholders would be on Friday. CapitaLand Investment’s shares are expected to begin trading on Monday, the company said in a filing to SGX.
Shares of CapitaLand are expected to be delisted on 21 September, the filing said.
Singapore-listed iFAST attributed the surge in its share price Wednesday to the news released earlier this year that it had finalised the prime subcontractor contract for a Hong Kong pension project.
OKP Holdings said Wednesday it landed a S$57.2 million contract from Singapore’s national water agency PUB for its deep tunnel sewerage system phase two project.
The contract will begin on 21 September and completion is expected in 2025, OKP said in a filing to SGX.
International Cement Group
International Cement Group’s indirect subsidiary Sharcem has entered a deal to acquire Kazakhstan-based Shygys Zharyq, which is engaged in supplying electricity, for US$1.8 million, or around S$2.41 million, from two Khazkstan citizens, the company said in a filing to SGX Wednesday.
“With this acquisition, Sharcem LLP will be able to purchase electricity from the electric power stations in Kazakhstan, through the target company. This presents costs savings for the group as they do not have to pay the mark-up on electricity tariffs charged by energy-producing organisations,” International Cement Group said. “The cost savings arising from this acquisition will greatly outweigh the purchase consideration.”
After the deal’s completion, International Cement Group will hold an effective 60 percent stake in Shygys Zharyq, which is currently dormant, but owns a license to purchase and sell electricity to customers, the filing said.
Raffles Infrastructure has entered a subscription agreement with Yayuan Ltd. to issue 10 million new shares at S$0.20 each to raise S$2 million, the company said in a filing to SGX late Wednesday.
Blumont Group’s indirect wholly owned subsidiary Trackplus has entered a deal to sell a vacant plot of land in Malaysia to Armani Alliance for 20 million ringgit, or around S$6.44 million, in cash, the company said in a filing to SGX Wednesday.
Fragrance Group said Thursday it has received approval from SGX for the delisting of its shares. The date of the delisting will be “announced in due course,” the company said in a filing to SGX.