These are Singapore companies which may be in focus on Thursday, 7 October 2021: Olam International, ComfortDelGro, Yanlord Land, Elite Commercial REIT, The Straits Trading Co., Darco Water Technologies, Aspen Group, GS Holdings, Guoan International, Koda, Pine Capital Group and AnnAik.
Olam International’s wholly owned subsidiary Olam Treasury has secured a medium-term samurai loan facility of a total 26.7 billion yen, the agri-business and food player said in a filing to SGX Wednesday.
ComfortDelGro said Wednesday its wholly owned subsidiary ComfortDelGro Engineering has entered a joint venture with Engie South East Asia, a wholly owned subsidiary of French multinational utility company ENGIE, to deploy and operate electric vehicle charging points at public and private carparks.
The entities were awarded a bid in September from the Urban Redevelopment Board and Land Transport Authority to install, fund and operate 479 charging points under a 12-year concession at selected carparks in the central, east and west regions of Singapore, ComfortDelGro said in a filing to SGX.
Yanlord Land reported Wednesday its total contracted presales from residential and commercial units and carparks for the January-to-September period, including joint ventures and associates, dropped 30.9 percent on-year to 36.77 billion yuan.
Elite Commercial REIT
Partner Reinsurance Co. (PRCL) disposed of 67 million units of Elite Commercial REIT, with Partner Reinsurance Asia (PRA) acquiring 25 million units for 25 million pounds and Partner Reinsurance Europe (PRESE) acquiring 42 million units for 42 million pounds, according to a filing to SGX Wednesday.
PRCL and PRA are wholly owned by PartnerRe Ltd. (PR), while PRESE is a wholly owned indirect subsidiary of PR, the filing said.
PRCL will continue to hold a direct 8.1 percent stake in Elite Commercial REIT, down from 22.22 percent previously, the filing said. PRA’s direct interest in the REIT increased to 6.05 percent from 0.78 percent previously, and PRESE’s stake went to 8.85 percent from zero previously, the filing said. PR’s deemed interest in the units did not change, the filing said.
“Units were transferred from PRCL to PRA and PRESE to address strategic asset allocation objectives within the PartnerRe Group,” the filing said.
Straits Trading Co.
Tan Tiong Cheng, independent and non-executive director of The Straits Trading Co., has acquired 30,000 shares of the company at S$3.05 each in an off-market transaction, taking his interest in the company to 0.024 percent from 0.017 percent previously, according to a filing to SGX Wednesday.
Darco Water Technologies
Darco Water Technologies said Wednesday that after issuing a note of rejection in relation to the Gaoyi project, Wang Zhi has refunded the company its 6 million yuan (around S$1.26 million) deposit.
Aspen Group said Wednesday Aspen Vision Land (AVL) and three other group subsidiaries have entered agreements with the director general of the Inland Revenue Board (IRB) of Malaysia for payment of 56.40 million ringgit as a full and final settlement of all potential additional tax claims for 2014-2020.
GS Holdings said Wednesday the company had received a letter, dated Tuesday, from the Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) requiring the company to provide certain information and documents related to an investigation.
Guoan International said Wednesday it has received an interim report on the investigations of irregularities in the acquisition of Yicko Group, including the failure to disclose one executive director’s role as a licensed representative of the target company.
In addition, Yicko Group’s accounting treatment of HK$4.58 million in sundry income, which was a material addition to its fiscal 2018 net profit, will be examined further, Guoan International said in a filing to SGX.
The independent internal inquiry is beginning to analyse whether the process of approving the acquisition was “significantly or fundamentally flawed,” Guoan International said.
Koda Ltd. said Wednesday its factories in Long an Province, Vietnam, have resumed 50 percent of operating capacity after the vaccination of employees, and it will work toward resuming full operations given the increasingly higher vaccination rate.
Pine Capital Group
Pine Capital Group said Wednesday it is unable to provide the monthly valuation of its assets as of end-September as its outsourced finance and accounting team has suspended its services pending receipt of payment.
The company is unable to fulfill the payment due to its poor cash position, Pine Capital said in a filing to SGX.
Ng Kim Keang, chief operating officer of AnnAik Ltd., acquired 300,000 shares of the company in the market for a total of around S$21,200, bringing his holding in the company to 2.28 percent from 2.17 percent previously, according to a filing to SGX Wednesday.
The company has four main businesses: Distribution of stainless steel piping products, manufacture of steel flanges, engineering construction of piping process system and environmental business via building and operating industrial waste-water treatment plants in China, according to a Reuters profile.
Ow Eei Phurn Benedict, an executive director of AnnAik Ltd. and the son of Ow Chin Seng, the executive chairman and CEO, acquired 180,000 shares of the company in the market for S$12,960, taking his total interest in the company to 0.23 percent from 0.17 percent previously, according to a filing to SGX Wednesday.