UPDATE: Singapore stocks Wednesday: Nanofilm, Temasek, CapitaLand Investment, Cromwell European REIT, Oxley, SembMarine, Lendlease Global REIT

CapitaLand Mall Trust and CapitaLand’s Funan mall and lyf co-living propertyCapitaLand Mall Trust and CapitaLand’s Funan mall and lyf co-living property

These are Singapore companies which may be in focus on Wednesday, 22 September 2021: Nanofilm Technologies, Temasek Holdings, CapitaLand Investment (CLI), Cromwell European REIT, Oxley Holdings, Sembcorp Marine (SembMarine), Lendlease Global Commercial REIT, Suntec REIT, Metech International, Asian Micro Holdings, Nera Telecommunications (NeraTel) and Blumont Group (Southern Archipelago).

This item was originally published on Tuesday, 21 September 2021 at 23:18 SGT; the item on Oxley Holdings has since been updated and StarHub and an additional item on Sembcorp Marine (SembMarine) were added. 

SembMarine and Temasek

Temasek Holdings’ indirect wholly owned subsidiary Startree Investments has made a mandatory general offer (MGO) to acquire all of Sembcorp Marine’s shares it doesn’t already own for S$0.08 each in cash, Singapore’s state-owned investment company said Wednesday in an offer filed to SGX.

Read more: Temasek’s Startree makes mandatory offer for SembMarine at discount to share price

Nanofilm and Temasek

Temasek Holdings’ indirect subsidiary Venezio Investments has entered a deal with Nanofilm Technologies’ controlling shareholder, Dr. Shi Xu, to acquire an additional 1 percent stake in the company, Nanofilm said in a filing to SGX Tuesday.

Read more: Temasek subsidiary Venezio enters deal to buy some Nanofilm shares from controlling shareholder

CapitaLand Investment

Ko Kai Kwun Miguel @ Ko Miguel, chairman of CapitaLand Investment, acquired 700,000 shares in the newly listed company at S$2.9349 each in a market transaction Monday, according to an SGX filing Tuesday.

Prior to the acquisition, Ko held 3,679 shares in CLI, the filing said.

Read more: CapitaLand Investment begins trade as one of largest listed REIMs

StarHub and MyRepublic

StarHub will acquire a 50.1 percent stake in MyRepublic’s broadband business for up to S$162.8 million, in a move by StarHub to participate in its target’s regional growth and by MyRepublic to boost its IPO outlook, the Singapore telecoms said in a filing to SGX Wednesday.

Read more: StarHub to acquire 50.1 percent stake in MyRepublic’s Broadband business for up to S$162.8M

Cromwell European REIT

BlackRock has become a substantial shareholder in Cromwell European REIT, with its stake rising above the 5 percent threshold after acquiring 382,400 shares in the REIT for S$1.0 million in a market transaction, the New York-listed institutional asset manager said in a filing to SGX Tuesday.

BlackRock’s direct stake in the REIT has increased to 5.03 percent from 4.96 percent previously, the filing said. Temasek Holdings had an around 4 percent stake in BlackRock as of end-March 2021, according to the Singapore state-owned investment company’s annual report.

Oxley Holdings

Oxley Holdings has completed the divestment of land parcels at 173-177 Walker Street, North Sydney, Australia, for gross proceeds of around S$96.3 million, the Singapore-listed property developer said in a filing to SGX late Tuesday.

Read more: Oxley completes sale of Australia property for around S$96M

Sembcorp Marine

Sembcorp Marine said Tuesday the remaining S$160 million of the S$600 million net cash proceeds from its 2020 rights issue has been fully utilised for working capital purposes.

Around S$58 million was used to pay for materials and equipment, around S$66 million was used for subcontractors’ labour services, and around S$36 million was used for employees’ payroll expenses, SembMarine said in a filing to SGX.

Lendlease Global Commercial REIT

Lendlease Global Commercial REIT said Tuesday it has completed the acquisition of 36,926 shares in Lendlease Asian Retail Investment Fund 3 (ARIF3), or an 8.2 percent stake, from a third-party seller for a total of S$73.4 million, including other costs, such as acquisition fee and professional expenses.

Post-completion, Lendlease Global Commercial REIT now holds 24.8 percent of ARIF3, giving it an effective 31.8 percent indirect interest in the Singapore property called Jem, located on Jurong Gateway Road, the REIT said in a filing to SGX.

Read more about Lendlease Global Commercial REIT’s deal.

Suntec REIT

Suntec REIT’s managers said Tuesday the divestment of a portfolio of office strata units at Suntec Towers One and Two to two purchasers has been completed and S$197 million in consideration has been received.

The purchasers are unrelated to the REIT but are wholly owned by the same parent, Suntec REIT said in a filing to SGX.

Read more: Suntec REIT to divest a Suntec City Office strata portfolio, acquire London office building

Metech International

Metech International said Tuesday its wholly owned subsidiary Metech Recycling (Singapore) entered a deal to acquire 60 percent of Blufu Water (Xinmin), or BWCL, from Greenspace Enviro for S$516,440.

The sole shareholder of Greenspace Enviro is Wang Daming, a former non-executive, non-independent director of Metech, the filing said, adding BWCL is mainly involved in managing wastewater treatment plants.

“The proposed acquisition presents a good opportunity for the company to expand its business into the Chinese wastewater treatment market,” Metech said, adding the deal would let it “tap on the existing customers of BWCL to increase the company’s customer base and gain a foothold in the Chinese market.”

Read Metech International’s statement on the deal.


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Asian Micro Holdings

Asian Micro Holdings said Tuesday it entered a deal to acquire 40 percent of Philippines-based Asian Micro Realty Development from three individuals for S$2.4 million in new shares to be issued at S$0.006 each, representing 20.4 percent of the enlarged share capital.

Asian Micro Realty Development develops and leases real estate and currently owns three parcels of land with three warehouses, two of which are leased out at an aggregate monthly rental of US$29,300, Asian Micro Holdings said in a filing to SGX.

Asian Micro Holdings said the proposed deal would improve its profitability via profit sharing and improve cashflow when Asian Micro Realty Development declares dividends.

Read Asian Micro Holdings’ statement on the deal.

Nera Telecommunications

Nera Telecommunications said Tuesday the arbitration tribunal hearing its contractual dispute with Canada-based Sandvine Corp. has ordered the Singapore-listed company to pay costs to Sandvine of around S$1.03 million.

The costs will be accounted for in NeraTel’s results for 2021 and will have a material impact, the company said.

The dispute was over US$3.8 million for equipment and services Sandvine provided to the company, NeraTel said in a filing to SGX.

Blumont Group

Blumont Group said Tuesday it would seek shareholders’ approval to change its name to Southern Archipelago Ltd.

“As the company rebuilds and restructures in preparation for growth, it intends to diversify into the hospitality and wellness business with a focus on Singapore, Malaysia and Indonesia, as it believes these industries will show strong recovery in the post-pandemic economy,” Blumont said in a filing to SGX. “The proposed change of name represents the company’s vision of owning and operating establishments in the hospitality and wellness industries in the aforesaid jurisdictions.”

Read Blumont Group’s filing to SGX.


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