These are Singapore companies which may be in focus on Wednesday, 29 September 2021: Hongkong Land, First Ship Lease Trust (FSLT), Roxy-Pacific Holdings, China Kangda Food, Courage Investment and Ezion Holdings.
This item was originally published on Wednesday, 29 September 2021 at 2:13 a.m. SGT; it has since been updated to include Hatten Land and Oceanus Group.
Yiu Kai Pang, a director of Hongkong Land and formerly its CEO from 2007 to 2016, acquired 100,000 shares of Hongkong Land for US$4.77 each on SGX on Monday, according to a filing to SGX Tuesday.
The company, which is listed on the London Stock Exchange, with secondary listings in Singapore and Bermuda, is a landlord and property developer in China, Hong Kong, Jakarta and Singapore.
Pang is currently the deputy managing director and chairman of Hong Kong of Jardine Matheson, as well as deputy chairman of Jardine Matheson and chairman of Jardine Pacific. Jardine Strategic owns 50.4 percent of Hongkong Land and 59.2 percent of Jardine Matheson.
First Ship Lease Trust
First Ship Lease Trust (FSL Trust) said Tuesday its wholly owned subsidiary FSL-10 entered a memorandum of agreement to sell the vessel FSL London, which is a 19,966 DWT chemical tanker built in 2006, to an unaffiliated third party.
Sen Lee Development has acquired 1.5 million Roxy-Pacific Holdings shares at S$0.47 each in a market transaction, increasing its stake to 11.44 percent from 11.33 percent, according to a filing to SGX Tuesday. Sen Lee Development is listed in Roxy-Pacific’s 2020 annual report as a related company.
Kian Lam Investment, which holds more than 50 percent of Sen Lee Development, is deemed interested in those shares and its total interest in Roxy-Pacific increased to 51.45 percent from 51.34 percent previously, according to a separate filing to SGX Tuesday.
Earlier this month, Roxy-Pacific received a management-led buyout offer to acquire the company at S$0.485 a share to take the company private. Roxy-Pacific’s Chairman and CEO Teo Hong Lim, who is part of the consortium of 11 individuals bidding for the company, is listed as a director of Sen Lee Development and Kian Lam Investment. Lim owns more than 20 percent of Kian Lam Investment, and is therefore deemed interested in shares held by Sen Lee Development and Kian Lam Investment.
China Kangda Food
China Kangda Food reported Tuesday a net loss of 39.8 million yuan for the first half, widening from a 1.6 million yuan net loss in the year-ago period, hurt by higher prices of raw materials, including animal feed ingredients, such as corn and soybean meal.
Courage Investment and Evergrande
Courage Investment reported Tuesday its debt portfolio holds China Evergrande Group debt, acquired for US$3.4 million, making up 4 percent of the group’s total assets and around 25.2 percent of the fair value of the debt portfolio.
Ezion Holdings reported Tuesday its second quarter swung to a US$8.4 million profit from a year-earlier loss of US$26.85 million as foreign exchange losses and cost of sales declined.
In addition, Ezion said it has received expressions of interest from three potential investors.
Hatten Land’s subsidiary Hatten Technology has entered a deal with Frontier Digital Asset Management to mine bitcoin with at least 1,000 cryptocurrency mining rigs from the group’s properties in Malaysia, the company said in a filing to SGX Wednesday.
Oceanus Group said Wednesday it has successfully exited SGX’s Watchlist, which is for companies posting pre-tax losses for three straight financial years and an average daily market capitalisation of less than S$40 million over the previous six months. The company was placed on the watchlist in 2015.
The company has achieved profitability since the second quarter of 2020, and touched records for its revenue and net profit in the first half of 2021, Oceanus said in a filing to SGX.
Oceanus engages in food production, distribution and services. It operates one of the largest land-based abalone farms globally and its product range includes fish and crustaceans. Its distribution segment trades raw materials and fast-moving consumer goods. Oceanus also provides consulting on aquaculture, asset management, marketing and branding.