UPDATE: Singapore stocks Thursday: Singtel, Keppel, Cromwell European REIT, Riverstone, Penguin, Sakae, Thakral, Alliance Healthcare, ACROMEC, ART

Singapore’s central business district (CBD) with CapitaLand and Singtel buildings; taken September 2018.CapitaLand and Singtel buildings in Singapore’s central business district.

These are Singapore companies which may be in focus on Thursday, 22 September 2021: Keppel Corp., Cromwell European REIT, Keppel Pacific Oak US REIT, Ascott Residence Trust (ART), Riverstone Holdings, Penguin International, Alliance Healthcare, Sakae Holdings, Thakral Corp., ACROMEC and Aspen Group.

This item was originally published on Wednesday, 22 September 2021 at 23:25 SGT; it has since been updated to include Singtel and an additional item on Aspen Group.

Singtel

Singtel plans to subscribe to its associate Indian telco Airtel’s rights issue at 535 Indian rupees a share for up to 29.4 billion rupees, or around US$405 million over a period of up to three years, the Singapore-listed telco said in a filing to SGX Thursday.

Read more: Singtel to fully subscribe to India telco Airtel’s rights issue for up to US$405M

Keppel

Keppel Corp. has priced an issue of 8 billion yen notes due 2027 at 0.99 percent, the company said in a filing to SGX Wednesday.

Read more: Keppel prices 8 billion yen notes due 2027

Cromwell European REIT and UBS

UBS Group AG ceased to be a substantial shareholder of Cromwell European REIT, with its deemed interest declining below the 5 percent threshold after the disposal of 1.414 million units in the market for S$3.71 million, according to a filing to SGX from the investment bank.

The deemed interest in the REIT fell to 4.99 percent from 5.24 percent previously, the filing said.

Keppel

Keppel Land China’s wholly owned subsidiary Chengdu Hillstreet Development has agreed to terminate its 2018 agreement to acquire Sichuan Shengdai Food’s interest in a company it was to create to hold a 3.35ha plot of land in Chengdu, China, Keppel said in a filing to SGX Wednesday.

The deal was contingent on Sichuan Shengdai Food securing formal regulatory approval for the deal, which it has been unable to do, Keppel said. Chengdu Hillstreet had not made any payments for the acquisition, the filing said.

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT said Wednesday its declared cumulative distribution of 3.80 U.S. cents per unit for the 1 January to 5 August period will be paid on 28 September.

Ascott Residence Trust

Ascott Residence Trust said Wednesday it has completed the acquisition, announced earlier this month, of a student accommodation property located in Lubbock, Texas, in the United States.

In addition, Ascott Residence Trust said it used around S$57.3 million of the gross proceeds of its S$150 million private placement of new stapled securities toward the acquisition.

Read more: Ascott Residence Trust to acquire Texas student accommodation property for US$70M

Riverstone Holdings

Malaysia’s Employees’ Provident Fund Board has disposed of 284,900 shares of Riverstone Holdings in a market transaction for S$287,208, taking its interest in the company to 6.981 percent from 7 percent previously, the fund said in a filing to SGX Wednesday.

Riverstone Holdings is a natural rubber and synthetic rubber glove manufacturer, making healthcare gloves, nitrile gloves, finger cots, face masks and packaging bags. Employees’ Provident Fund Board is a Malaysian statutory body under the Ministry of Finance; it manages the compulsory retirement savings for Malaysia’s private sector workers.

Penguin International

Penguin International said Wednesday Shell Eastern Petroleum awarded it a contract to design, build, own and operate at least three fully electric ferries, which, when completed in the first half of 2023, will be used to transport passengers between mainland Singapore to Shell’s Energy and Chemicals Park on the island of Bukom.

The new 200-seater single-deck ferries will be the first fully electric ferry service for Shell in Singapore, replacing the conventional diesel-powered ferries currently in use, Penguin said in a filing to SGX.

Alliance Healthcare

Alliance Healthcare said Wednesday its wholly owned subsidiary AHPL has completed the purchase of 20 percent of healthcare information technology company SG IMED.

The company said it used IPO proceeds toward the aggregate cash consideration of S$630,000.

Read more: Alliance Healthcare enters deal to acquire 20 percent stake in SG IMED

 

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Sakae Holdings

Sakae Holdings has entered a deal to sell a commercial boutique bungalow building in Kuala Lumpur, Malaysia, to Seafood Island Malaysia for 11.5 million ringgit, or around S$3.67 million, the Singapore-listed sushi restauranteur said in a filing to SGX Wednesday.

Read more: Sakae enters deal to sell Malaysia property for 11.5 million ringgit

Thakral

Thakral Corp. said Wednesday the 2 Singapore cent dividend it declared on 5 August would be paid at end-December instead of end-September due to the timing of the group’s cashflows.

“While the board remains committed to its dividend policy, it seeks shareholders’ understanding with regard to the prudent approach to pay the interim dividend by December 2021 taking into consideration the timing of the group’s cash flow for its working capital requirements, operational and investment needs amidst the ongoing Covid-19 pandemic including the growing spread of the Delta variant,” Thakral said in a filing to SGX.

ACROMEC

Life Science Incubator, a 30 percent owned associate company of Singapore-listed ACROMEC, has launched its first co-working laboratory space at German Centre in Singapore to offer flexible spaces for research and development. The 600 square meter space is aimed at early-stage bio and pharma startups, as well as entities in the MedTech, Biotech, Biopharma and FoodTech sectors, ACROMEC said in a filing to SGX Wednesday.

The co-working space has eight suites, 51 lab benches and one operating theater, the filing said.

The remaining 70 percent of Life Science Incubator is owned by Tako Ventures, the filing said.

Aspen Group

Aspen Group said Thursday its 70 percent-owned indirect subsidiary Aspen Glove has obtained 510(k) premarket notification clearance from the U.S. Food and Drug Administration to market latex examination powder-free gloves in the U.S.

That followed an announcement Monday it had received the same clearance to market nitrile examination gloves and latex surgical gloves in the U.S.

Aspen Group

In response to a query from SGX, Aspen Group said Wednesday it wasn’t aware of any reason — either already announced or yet to be announced — for the surge in its share price amid high volume.

Shares of Aspen ended up 15.9 percent at S$0.146 Wednesday after touching as high as S$0.164.

 

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