These are companies which may be in focus in Singapore on Wednesday, 12 October 2021: CapitaLand Investment and The Ascott, Singapore Exchange (SGX), AIMS APAC REIT, Dragon Pacific Assets, AEM Holdings, The Employees Provident Fund Board of Malaysia, First Resources, ESR Cayman, Sabana Shariah Compliant Industrial REIT, ARA Asset Management, Dasin Retail Trust, Sino-Ocean Capital, Tuan Sing Holdings, Creative Technology, Metech International, Halcyon Agri and Raffles Education.
CapitaLand Investment and The Ascott
CapitaLand Investment‘s wholly owned lodging unit The Ascott Ltd. has entered a deal with Vietnamese real estate developer Sun Group to manage Vietnam’s largest serviced residence development, the Singapore-listed property investor said in a filing to SGX Tuesday.
Singapore Exchange (SGX)
Singapore Exchange (SGX) said Tuesday total securities market turnover value on the exchange rose 11 percent on-year in September to S$27 billion, a four-month high.
In addition, the SGX FTSE China A50 Index Futures saw traded volume climb 20 percent on-year in September to 9.3 million contracts, the highest since March, while SGX USD/CNH futures volume climbed 15 percent on-year to 921,663 contracts, SGX said in a statement filed to the exchange.
“Concern over heightened regulatory risks in China spurred volume gains in SGX’s suite of China-access products, while supply-chain bottlenecks in commodity markets fueled derivative hedging in both cargo and freight,” SGX said in the statement.
AIMS APAC REIT and Dragon Pacific Assets
Dragon Pacific Assets further cut its holding in AIMS APAC REIT, ceasing to be a substantial unitholder after its stake fell below the 5 percent threshold.
The entity sold 1.1 million units of AIMS APAC REIT at S$1.44 a unit in a market transaction, taking its direct interest to 4.99 percent from 5.14 percent previously, according to a filing to SGX Tuesday by a representative of Megaworld Corp.
Dragon Pacific Assets is listed in the ICIJ Offshore Leaks Database of the Panama Papers, which has data up through 2010, as a shareholder of Premium Travellers, which was an intermediary of Megaworld at that time. There are legitimate reasons to have offshore entities and a listing in the database does not imply wrongdoing.
AEM Holdings and Employees Provident Fund Board
Employees Provident Fund Board became a substantial shareholder of AEM Holdings, with its stake rising to 5.002 percent from 4.999 percent due to a change in the number of outstanding shares, according to a filing to SGX Tuesday.
Malaysia’s EPF, established in 1951, covers 14.59 million members, with 7.63 million of them active contributors as of end-2019. The annual contribution to the fund from employees and employers was 75.93 billion ringgit as of end-2019, with a dividend payout of 47.64 billion ringgit in 2020.
First Resources and Employees Provident Fund Board
The Employees Provident Fund Board ceased to be a substantial shareholder of First Resources after disposing of 1,420,100 shares in the market for around S$2.63 million, taking its deemed interest to 4.937 percent from 5.027 percent previously, according to a filing to SGX Tuesday.
ESR Cayman and Sabana Shariah Compliant Industrial REIT
ESR Cayman’s total holding in Sabana Shariah Compliant Industrial REIT increased to 21.2 percent from 20.88 percent after the Hong Kong-listed company and its subsidiaries received around 6.93 million units at S$0.4229 each under the REIT’s DRP for the distribution for the first half of this year, according to a filing to SGX Tuesday.
ESR Cayman and ARA Asset Management
ESR Cayman said Tuesday it would not issue vendor loan notes (VLNs) as part of the consideration for its acquisition of ARA Asset Management and will instead offer additional shares equal to the number of conversion shares the recipient would have received when converting the VLNs.
The VLNs were to be non-voting, perpetual, zero-coupon, and convertible to new ESR shares.
Dasin Retail Trust and Sino-Ocean Capital
New Harvest Investments, an affiliate of Sino-Ocean Capital, has become a controlling shareholder of Dasin Retail Trust’s manager after Zhang Zhencheng, chairman and controlling shareholder of the Trust’s manager, completed the transfer of his shares, the trust said in a filing to SGX Tuesday.
Tuan Sing Holdings
Tuan Sing Holdings priced S$200 million in notes due 2024 at 6.9 percent amid solid demand despite uncertain market conditions amid the ongoing Covid-19 pandemic, the real estate company said in a filing to SGX Tuesday.
Creative Technology filed notice Tuesday it has posted three consecutive years of losses, but noted its six-month average daily market capitalisation is S$179.25 million.
If a company posts losses for the three most-recent financial years and its average daily market capitalisation is less than S$40 million for the past six months, SGX will place the issuer on a watch-list, Creative noted.
Halcyon Agri Corp. said Tuesday its subsidiaries Hevea Global and New Continent Enterprises entered a US$50 million facility agreement at 1.8 percent per annum with controlling shareholder Sinochem International (Overseas), which holds around 55 percent of rubber player Halcyon Agri. Sinochem International (Overseas) is a wholly owned subsidiary of Chinese state-owned enterprise Sinochem International, which is listed on the Shanghai Stock Exchange.
“HAC Group is closely managing its operating working capital and controlling relevant risks, and it believes that entry into the facility agreement is beneficial to the borrowers in view of the challenges and uncertainties of Covid-19 pandemic,” Halcyon Agri said in a filing to SGX.
Metech International announced Tuesday it has entered separate strategic collaboration deals with Guangzhou Diamond Exchange and National Testing Centre for Gold and Silver Jewellery (Tianjin).
In addition, Metech said it has entered an agreement with KDT Diamond, one of South Korea’s largest diamond distribution and manufacturing companies.
Lim How Tech, the lead independent non-executive director of Raffles Education, acquired 1 million shares of the company for S$88,000 in a market transaction, bringing his stake to 0.145 percent from 0.072 percent previously, according to a filing to SGX Tuesday.