Singapore stocks Tuesday: Sembcorp, SPH REIT, AA REIT, Shangri-La Asia, Darco Water, Swiber, Asian Micro

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These are Singapore companies which may be in focus on Tuesday, 5 October 2021: Sembcorp Industries, SPH REIT, AIMS APAC REIT (AA REIT), Shangri-La Asia, Darco Water Technologies, Swiber Holdings, Asian Micro Holdings and LifeBrandz.

Sembcorp Industries

Sembcorp Industries’ subsidiary Sembcorp Utilities, Chiyoda Corp. and Mitsubishi Corp. have entered a memorandum of understanding to explore creating a commercial-scale supply chain to deliver decarbonised hydrogen into Singapore, the companies said in a filing to SGX Monday.

Read more: Sembcorp Industries, Mitsubishi and Chiyoda enter MOU to explore delivering decarbonised hydrogen into Singapore


SPH REIT reported Monday its fiscal second half net property income increased 24.6 percent on-year to S$97.77 million as gross revenue increased amid lower rental assistance and as interest rates declined.

Read more: SPH REIT posts fiscal 2H21 net property income climbed around 25 percent as rental assistance fell


AIMS Financial Holding transferred 20.08 million AIMS APAC REIT units to AIMS APAC Capital Holdings, which is wholly owned by AIMS Financial Holding, for S$30.12 million on 29 September in an off-market deal, according to a filing to SGX Monday.

In addition, AIMS Fund Management (Cayman) transferred 7 million AIMS APAC REIT units to AIMS APAC Capital Holdings on 29 September for S$10.85 million in an off-market deal, according to a separate filing.

AIMS Financial Holding is wholly owned by Great World Financial Group, and George Wang, the chairman of AIMS APAC REIT’s manager, is deemed to be interested in the units held by Great World Financial Group, the filing said. The deemed interest remained at 8.12 percent, the filings said.

Shangri-La Asia

Shangri-La Asia said Monday two of its non-wholly owned subsidiaries have entered a loan facility deal, with Myanmar Co. A, which owns and operates the Shangri-La Serviced Apartments Yangon in Myanmar, to provide a loan of up to US$5 million at 4 percent per annum to Myanmar Co. B, which owns and operates the Sule Shangri-La Yangon, a hotel in Myanmar.

“The board considers that through the cash advance agreement, the group can better utilize the funds in its Myanmar projects through mobilizing the surplus cash among its Myanmar operations,” Shangri-La Asia said in a filing to SGX, noting a “severe and sustained business impact” on Myanmar Co. B’s hotel business from the Covid-19 pandemic.

KHL, a substantial shareholder of Shangri-La Asia, owns more than 10 percent each of Myanmar Co. A and Myanmar Co. B, making the loan a connected transaction, the filing said.

Read Shangri-La’s statement on the loan agreement.

Darco Water Technologies

Darco Water Technologies faces a potential material impact on 2021 earnings as it hasn’t received a refund of the US$600,000 refundable deposit it advanced for the now-terminated letter of intent to acquire Con Dao Green Energy in Vietnam, the company said in a filing to SGX Monday.

Read more: Darco Water: Material impairment possible as Con Dao Project deposit wasn’t repaid after deal termination

Swiber Holdings

Swiber Holdings said Monday Rawabi Holdings, which proposed investing up to US$200 million in two Swiber subsidiaries, has agreed to extend the long-stop date for the deal again to 31 January 2022 from 30 September 2021.

“As more time is required by the company and Rawabi to fulfil certain conditions precedent, the Parties have on 30 September 2021 mutually agreed in writing to extend the current long stop date,” Swiber said in a filing to SGX.

Asian Micro Holdings

Asian Micro Holdings said Monday Lim Kee Liew, CEO, executive chairman and group managing director of the company, voluntarily reduced his remuneration by S$200,,000, with any balance to be settled via capitalisation for the financial year ending 30 June 2022.

“The above voluntary reduction of remuneration is given despite that the group is only slightly affected by the current Covid-19 pandemic,” the company said in a filing to SGX.


LifeBrandz said Monday Mulligan’s Irish Pub in Pattaya, Thailand, operated by the company’s wholly owned subsidiary Mulligan’s Co., has been allowed to resume operations since Friday, subject to Covid-19 control guidelines, including capacity limits for dining in and a prohibition on alcoholic beverages.

But the company noted the Covid-19 situation is uncertain and restrictions may be imposed again.

Read LifeBrandz statement on the re-opening.


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