UPDATE: Singapore stocks Friday: ESR-REIT, ALOG, Keppel DC REIT, Ascendas REIT, Nanofilm, Yanlord, Chip Eng Seng, Kitchen Culture

M1 retail outlet at Orchard Road In SingaporeM1 retail outlet at Orchard Road In Singapore. Image taken pre-Covid

These are Singapore companies which may be in focus on Friday, 14 October 2021: Keppel DC REIT, Keppel Corp., M1, Ascendas REIT, United Hampshire US REIT, Nanofilm Technologies International, Hong Leong Asia, BRC Asia, Yanlord Land, Ascendas India Trust, Chip Eng Seng, Kitchen Culture, Raffles Education, Pacific Star Development, Charisma Energy, Tuan Sing Holdings, Metech International and Far East Group.

This item was originally published on Friday, 15 October 2021 at 2:44 a.m. SGT; it has since been updated to include ESR-REIT, ARA Logos Logistics Trust (ALOG) and an additional item on United Hampshire US REIT.

ESR-REIT and ARA LOGOS Logistics Trust

ESR-REIT has proposed acquiring ARA LOGOS Logistics Trust, or ALOG, for a total consideration of around S$1.4 billion in cash and shares, in a deal which will create an industrial REIT with around S$5.4 billion in assets across Singapore and Australia.

Read more: ESR-REIT to acquire ARA LOGOS Logistics Trust for around S$1.4B in cash and share deal

Keppel DC REIT, Keppel Corp. and M1

Mobile operator M1, a subsidiary of Keppel Corp., has signed an agreement for Keppel DC REIT to invest into the telco’s mobile, fixed and fiber assets, which will be injected into a newly incorporated entity called M1 Network, or NetCo, the companies said in a filing to SGX Thursday.

Read more: Keppel DC REIT to take stake in M1 network assets

Ascendas REIT

The Bank of New York Mellon Corp. has become a substantial shareholder of Ascendas REIT, with its deemed interest rising to 5.01 percent from 4.64 percent after 15.526 million units of the REIT were pledged to the bank as collateral, according to a filing to SGX Thursday.

The bank said it also disposed of 27,500 units in a market transaction at S$2.96 each, the filing said.

United Hampshire US REIT

HGF Investors Fund II, an affiliate of The Hampshire Cos., a sponsor of United Hampshire US REIT, has ceased to be a substantial unitholder of the REIT, with its stake falling to 4.59 percent from 5.1 percent previously after the REIT issued new units in a private placement, according to a filing to SGX Friday.

Read more: United Hampshire US REIT prices private placement at mid-point of range amid strong demand

United Hampshire US REIT

Kuang Ming Investments ceased to be a substantial unitholder of United Hampshire US REIT, with its direct interest falling to 4.92 percent from 5.46 percent previously after the REIT issued new units in a private placement, according to a filing to SGX Thursday.

Tan Kim Choo and Ng Chee Tat Phillip each have a more than 20 percent interest in Kuang Ming Investments and are deemed to be interested in the around 27.28 million United Hampshire US REIT units it holds, the filing said.

Read more: United Hampshire US REIT prices private placement at mid-point of range amid strong demand

Nanofilm Technologies International

In its third quarter business update issued Thursday, Nanofilm Technologies International said it was building up its revenue pipeline, with multiple strategic projects under development and new product introduction projects set to contribute to revenue starting in the fourth quarter.

Read more: Nanofilm 3Q update: New product introduction projects to contribute in 4Q21

Hong Leong Asia and BRC Asia

Hong Leong Asia’s subsidiary Hong Leong Asia Investments has completed its subscription of 31.02 million new shares and 15 million sale shares of BRC Asia, bringing its total stake in the company to around 20 percent, the company said in a filing to SGX Thursday.

Read more: Hong Leong Asia to acquire 20 percent of BRC Asia for around S$68M

Yanlord Land

Yanlord Land said Thursday DBS Bank has made a S$340 million secured term loan facility available to an indirect wholly owned subsidiary, Yanlord Investment (Singapore) for a three-year term for the purposes of refinancing existing short-term indebtedness.

Ascendas India Trust

Ascendas India Trust said Thursday it has secured a S$150 million sustainability-linked term loan facility from United Overseas Bank.

Chip Eng Seng

Tang Yigang @ Gordon Tang has acquired 231,000 Chip Eng Seng shares in the market at S$0.42 each for a total S$97,020 on 11 October, and 1.169 million shares at S$0.42 each in the market for a total S$490,980 on 12 October, bringing his direct holding to 0.18 percent, according to a filing to SGX this week.

Chen Huaidan @ Celine Tang and her spouse, Tang Yigang @ Gordon Tang, jointly hold 290.68 million Chip Eng Seng shares, or a 37.1 percent stake, the filing said. Chen Huaidan @ Celine Tang is deemed interested in her spouses shares as well, the filing said.

Combined, the two have a total interest of 37.28 percent in Chip Eng Seng, the filing said.


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Kitchen Culture

Kitchen Culture said Thursday that after its audit committee recommended the termination of transactions by subsidiary KC Technologies, the subsidiary has recovered the US$480,010 it transferred to Sino Allied (HK).

Read more: Kitchen Culture seeks to unwind transfer to Sino Allied, with CAD report lodged

Raffles Education

Raffles Education Corp. said Thursday it has received a second 100 million yuan payment from Liu Yanwen, bringing the total in payments from him to 346 million yuan. The remaining 74 million yuan from Liu will need to be paid by end-September 2022, the company said in a filing to SGX.

“The amount received from Mr. Liu Yanwen is available to be used by the group in connection with the settlement with Affin Bank,” Raffles Education said.

Read more: Raffles Education: Auditor cites material uncertainty related to going concern

Pacific Star Development

Pacific Star Development said Thursday it has amended its S$72 million loan facility agreement with funds managed by OCP Asia (Singapore), an institutional investor and manager of private investment funds, with the deal resulting in a longer tenor and a higher interest rate.

Read more: Pacific Star Development amends loan facility with OCP Asia with higher interest rates

Charisma Energy

Charisma Energy Services has received a notice letter from its bank stating the failure to make dividend payments and the September instalment payment constituted events of default under the credit agreement, with the loan canceled, the company said in a filing to SGX Thursday.

Read more: Charisma Energy: Received notice of default from lender amid Sri Lanka forex crisis

Tuan Sing Holdings

Tuan Sing Holdings said Thursday it has accepted S$40 million in aggregate principal amount of its outstanding 7.75 percent notes due 2022 for purchase in its tender exercise. The settlement date for the purchase is expected to be on or around 15 October, Tuan Sing said in a filing to SGX.

After the cancellation of the accepted notes, the aggregate principal outstanding will be S$25 million, the filing said.

Tuan Sing is involved in property development and real estate and hotel investments, with operations across Singapore, China, Indonesia and Australia. Tuan Sing Holdings also has an around 80 percent stake in Singapore-listed subsidiary SP Corp. and a 44.5 percent interest in printed circuit board maker Gul Technologies Singapore, according to the company website.

Metech International

Metech International‘s joint venture Asian Eco Technology (AET) has entered a deal to supply Swiss-based Selene Jewelry SARL with its around 10,000 to 20,000 carats a year of its lab-grown diamonds, the company said in a filing to SGX Thursday.

Selene Jewelry will be appointed as the main distributor for AET’s lab-grown diamonds in Europe, the filing said, noting the jeweler has an omni-channel business in Europe, with a presence in Switzerland and covering EU countries such as Greece, Italy and France.

Read Metech International’s statement on the deal.

Far East Group

Far East Group’s wholly owned subsidiary M-Tech Air-Con & Security Engineering has entered a deal to sell its property at 20 Bukit Batok Crescent #07-18 in Singapore to Bluetec MNE Consultancy for S$850,000, the company said in a filing to SGX Thursday. M-Tech had used the 332 square meter space as an office premises until March and it is currently rented to an unrelated third-party tenant for rental income, the filing said.

“The property forms part of the assets of M-Tech when the group acquired M-Tech in 2019. The Board believes that the disposal is in the best interests of the group and the shareholders of the company, as the property is a non-core aged asset,” Far East Group said.

Read Far East Group’s statement on the deal.


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