UPDATE: Singapore stocks Friday: Singtel, UOL, AA REIT, Olam, Keppel, ARA Asset, Frasers Property, Oxley, No Signboard, Dasin Retail, OxPay, AusGroup

UOL building and Orchard Gateway at Orchard RoadUOL building and Orchard Gateway at Orchard Road. Image taken pre-Covid.

These are Singapore companies which may be in focus on Friday, 30 September 2021: AIMS APAC REIT (AA REIT), Olam International, Keppel Corp., ESR Cayman, ARA Asset Management, Frasers Property, Oxley Holdings, No Signboard Holdings, Dasin Retail Trust, Cosco Shipping International (Singapore), OxPay Financial, AusGroup, GS Holdings and Pan Asian Holdings.

This item was originally published on Friday, 1 October 2021 at 1:55 a.m. SGT; it has since been updated to include Singtel and UOL Group.

Singtel

Singtel has entered a deal to sell a 70 percent stake in Australia Tower Network (ATN) to Australia’s largest superannuation fund, AustralianSuper, for around A$1.9 billion, the regional telco operator said in a filing to SGX Friday.

Read more: Singtel to sell 70% of Australia Tower Network to AustralianSuper for A$1.9B

AIMS APAC REIT

AIMS APAC REIT has entered a deal to acquire the Woolworths Headquarters, located in New South Wales, Australia, for A$463.25 million, or around S$454 million, from Inmark Asset Management, the Singapore-listed REIT said in a filing to SGX Thursday.

Read more: AIMS APAC REIT to acquire Woolworths headquarters in Sydney for A$463.25M

Olam International

Olam International plans a private placement of 5.5 billion yen (around US$50 million) in 1.403 percent five-year sustainability linked notes, marking the agri-business’s second sustainability-linked offering, the company said in a filing to SGX Thursday.

Read more: Olam to issue 5.5 billion yen in five-year sustainability-linked notes

UOL Group

UOL Group has secured a S$540 million five-year sustainability-linked loan pegged to Singapore Overnight Rate Average (SORA), financed by UOB, DBS Bank and OCBC each extending S$180 million, the company said in a filing to SGX Friday.

Read more: UOL gets S$540M sustainability-linked loan from UOB, DBS, OCBC

Keppel Corp.

Keppel Land China has opened its retail mall Seasons City in the Sino-Singapore Tianjin Eco-City (Eco-City), marking the company’s expansion into the retail sector in the bilateral project between the governments of Singapore and China, Keppel Corp. said in a filing to SGX Thursday.

Seasons City is a five-storey retail mall with three office towers, Keppel said.

Read Keppel Corp.’s statement on Seasons City.

ESR Cayman and ARA Asset Management

ESR Cayman said Thursday it requires additional time to prepare the circular related to its proposed acquisition of ARA Asset Management, including the accountants’ report on ARA Group. As a result, ESR Cayman said it would dispatch the circular to shareholders on or before 22 October, with the extraordinary general meeting expected on or before 15 November.

Previously, ESR Cayman had expected the circular to be despatched by 30 September and the EGM by 31 October.

Read more: UPDATE: ESR Cayman to acquire ARA Asset Management for US$5.2B

Frasers Property

Frasers Property said Thursday it has issued the second tranche of S$100 million 3.0 percent fixed-rate notes due 2028, with the notes expected to be listed on Friday.

Read more: Frasers Property prices S$100M second tranche of notes due 2028

Oxley Holdings

Oxley Holdings said Thursday the S$49.75 million in principal accepted for purchase from its buyback offer on its S$150 million 5.70 percent notes due 2022 in series 002 has been cancelled. The outstanding principal of the notes is S$100.25 million, the company said in a filing to SGX.

In addition, Oxley said it issued Thursday S$85 million 6.90 percent notes due 2024 in series 4 tranche 002; the notes are expected to be listed on SGX’s bond market on Friday, the filing said.

No Signboard Holdings

No Signboard Holdings has proposed a placement of 77.78 million new shares at S$0.045 each to investor Henry Chandra Tjiang to raise S$3.5 million, with part of the proceeds earmarked for establishing a new restaurant chain.

Read more: No Signboard proposes placement to raise S$3.5M

Dasin Retail Trust

The delay in Dasin Retail Trust paying its distribution to unitholders to 4 October from 28 September was due to a delay in processing the remittance of funds from Macau to Singapore, the trust said in a filing to SGX Thursday in response to a query from SGX.

Read more: Dasin Retail Trust: Distribution delay due to Covid restrictions

 

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Cosco Shipping International

Cosco Shipping International (Singapore) said Thursday it entered a deal to sell 60 percent stake in COSCO Shipping (Singapore) to COSCO (H.K.) Shipping, a wholly owned subsidiary of COSCO SHIPPING Bulk, which is in turn wholly owned by the company’s indirect controlling shareholder China COSCO Shipping, for US$42.39 million.

“The proposed transaction represents the company’s strategic decision to streamline its current conglomerate structure to increase focus on the company’s core logistics business and to achieve better performance for the group’s existing businesses. The group’s dry bulk shipping business as carried out under the sale company currently has limited marketing capabilities and lacks market competitiveness as it only has three vessels of the same ship type, i.e. SUPRAMAX, and the average age of the fleet is about 16 years old,” the company said in a filing to SGX Thursday.

Read Cosco Shipping International (Singapore)’s statement on the deal.

OxPay Financial

OxPay Financial said Thursday it would be the exclusive payment service provider in a collaboration with NULS and veriTAG to develop stable tokens, known as CBDC (Central Bank Digital Currencies) for Asian markets.

Under the tie-up, NULS will build the public blockchain infrastructure and veriTAG will set up the merchant and digital wallet ecosystem, while OxPay will be responsible for payment settlements and required Singapore licenses, OxPay said in a filing to SGX. The trio will also work to develop stale tokens, which can be used to pay for purchases priced in Singapore dollars, the filing said.

Read OxPay Financial’s statement on the deal.

AusGroup

AusGroup’s auditors, KMPG LLP, have cited a material uncertainty related to whether the company can continue as a going concern, according to an extract of the comments filed to SGX by AusGroup Thursday.

Read more: AusGroup auditors cite material uncertainty related to going concern

GS Holdings

GS Holdings said Thursday its indirectly wholly owned subsidiary Hao Kou Wei and Xing Zhiyuan have mutually decided to terminate the joint venture agreement signed a year ago for commercial reasons, particularly the unfavorable business environment due to the pandemic. The joint venture, Sing Global Brands, had not commenced operations, the company said in a filing to SGX.

Pan Asian Holdings

In response to a query from SGX, Pan Asian Holdings said it wasn’t aware of any reason for the 11.6 percent surge in its share price Thursday amid strong volume.

 

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