Companies in focus on Thursday, 21 October 2021:
- DBS and UOB may be among the bidders for some of Citigroup’s consumer banking assets in Asia: Bloomberg report
- Mapletree Logistics to acquire South Korean logistics facility for around S$154M
- Zheneng Jinjiang Environment plans to issue up to CNY1B in asset-backed securities in China
- Others: Ascendas India Trust, AIMS APAC REIT, Oei Hong Leong and Raffles Education, Hong Leong Asia and China Yuchai International, Willas-Array Electronics (Holdings), Ntegrator International, OIO Holdings, Manhattan Resources, Shen Yao Holdings, Plastoform Holdings and Lasseters International.
This item was originally published on Thursday, 21 October 2021 at 2:46 a.m. SGT; it has since been updated to include CapitaLand China Trust.
DBS and UOB
DBS and Standard Chartered are among the financial companies planning bids for Citigroup’s consumer banking assets in Asia, Bloomberg News reported Wednesday, citing people familiar with the matter. Citigroup is divesting units in five Asian markets: Indonesia, the Philippines, Taiwan, Thailand and India, with bids for the first four due Friday, and bids for India due next week, the sources said, according to the Bloomberg report.
Mapletree Logistics Trust
Mapletree Logistics Trust plans to acquire the Yeoju Logistics Centre in South Korea for 135 billion won, or around S$153.8 million, the trust said in a filing to SGX Wednesday.
Zheneng Jinjiang Environment Holding
Zheneng Jinjiang Environment Holding said Wednesday its wholly owned subsidiary Hangzhou Jinhuan Investment plans to establish an asset-backed securities (ABS) program in mainland China to issue up to 1 billion yuan, or around S$210.5 million, in securities.
CapitaLand China Trust
CapitaLand China Trust said Thursday the 128.76 million new units issued at S$1.165 each in its private placement would begin trade on Thursday.
Units of the trust were down 0.81 percent at s$1.22 at 1:06 p.m. SGT Thursday.
Ascendas India Trust
Ascendas India Trust said Thursday it has completed the stage one acquisition of Datascape Realty Pvt. Ltd., for a 79.3 percent stake, with the stage two acquisition for the remainder of the entity to be completed shortly. At that point, the trust will begin construction and development of the project into a data center campus, the trust said in a filing to SGX.
In a separate filing, Ascendas India Trust said it has used S$147 million, or 98 percent, of the proceeds of its private placement for project funding and acquisition of aVance 6 at HITEC City, Hyderabad; project funding of an industrial facility at Mahindra World City, Chennai; site acquisition and project funding for a data center project at Navi Mumbai, India; and project funding for existing committed pipeline projects.
AIMS APAC REIT
AIMS APAC REIT has entered into a facility agreement with various institutional banks, securing new term loan and revolving facilities of S$220 million and A$100 million, which will be applied toward refinancing existing loan facilities and financing real estate development and/or acquisitions and/or general corporate funding purposes, the REIT’s manager said in a filing to SGX Wednesday.
Oei Hong Leong and Raffles Education
Oei Hong Leong, a substantial shareholder and critic of Raffles Education, will be donating S$2.7 million of proceeds from his sale of shares in the company to National University of Singapore, according to an article from The Straits Times Wednesday.
Hong Leong Asia and China Yuchai International
Hong Leong Asia’s subsidiary China Yuchai International said its subsidiary Yuchai Xin-Lan New Energy Power Technology has entered a cooperation deal to develop hydrogen energy applications with fuel cell powertrain systems for the Beijing, Tianjin and Hebei markets.
Under the deal Beijing Xing Shun Da Bus and Yuchai Xin-Lan will form a joint venture to research, develop and manufacture fuel cell powertrain systems for on- and off-road applications, the company said in a filing to SGX.
Willas-Array Electronics (Holdings)
Willas-Array Electronics (Holdings) issued a positive profit alert Wednesday, saying the preliminary assessment of the results for the six months ended 30 September indicated the company would post a net profit of HK$39 million to HK$47 million, compared with around HK$22.4 million for the year ago period.
The expected increase is mainly on an improved gross profit margin due to a “persistent imbalance between the supply and demand of electronics components arising out of a global shortage of supply of electronic components,” the company said in a filing to SGX.
Ntegrator International has entered placement deals to issue 172.4 million new shares to two subscribers to raise around S$1.4 million, the company said in a filing to SGX Wednesday.
Zhou Qilin ceased to be a substantial shareholder of Ntegrator International after selling 54 million shares in the market for S$487,000, taking her stake in the company down to 0.77 percent from 5.08 percent previously, according to a filing to SGX Wednesday. She has been selling off her holding in the company in stages, with filings Monday and last week showing share sales. That followed a previous selldown earlier this month.
Zhou had acquired a nearly 15 percent stake in Ntegrator in May in a conditional placement agreement with the company for 187.86 million new shares at S$0.01094 each to raise around S$2.06 million, according to a Business Times article. Zhou, who is a China resident, had subscribed to the shares for investment purposes, the article said.
OIO Holdings said Wednesday it has entered separate subscription agreements with 10 parties to issue a total of around 6.57 million new shares at S$0.527 each to raise around US$2.54 million, or around S$3.46 million. Japanese company Best Amenity, involved in healthy food distribution, is among the subscribers, the company said in a filing to SGX.
“The board believes that the proposed subscription will strengthen the group’s balance sheet and financial position and provide flexibility to capitalise on growth opportunities and to expand and grow its blockchain business via an injection of funds into the company for potential
business investments and/or acquisitions as and when they arise,” OIO Holdings said.
Manhattan Resources entered a deal to acquire Singapore-based renewable energy development platform company Athena Energy Holdings for S$4.83 million, the company said in a filing to SGX Wednesday.
Athena specialises in commercial and industrial rooftop solar projects and utility scale solar, wind and energy storage projects in the renewable energy sector, the filing said.
Shen Yao Holdings
Shen Yao Holdings warned Wednesday it expects to report a net loss for the fiscal year ended 30 June, largely due to a fair value loss of S$7 million related to its convertible bonds due 2022, fair value expenses related to 2.5 billion share options granted to directors and selected key employees, and the Singapore dollar’s depreciation against the Australian dollar.
The results are expected to be released on or before 28 October, Shen Yao said in a filing to SGX.
Plastoform Holdings said Wednesday it entered a deal with JCS INVK, a wholly owned subsidiary of machinery trading and manufacturing company JCS Group, to provide a convertible loan facility of up to S$2.5 million. Under the deal, Plastoform will carry out new business, which will include trading and manufacturing electronic devices and other technology products, with the investor through a newly incorporated Singapore subsidiary, the company said in a filing to SGX.
“The proposed convertible loan will facilitate the resumption of trading of shares in the company,” Plastoform said, adding the loan will allow the company, which is in a net liability position, to reorganise liabilities and debts.
Lasseters International said Wednesday trading in its shares will be suspended, effective Thursday, following the completion of the disposal of freehold land and buildings, and the business assets of Ford Dynasty and Lasseters Health Club.
The company will be removed from SGX’s official list if it can’t meet the requirements for a new listing within 12 months of becoming a cash company, Lasseters said in a filing to SGX.
“The company is currently considering all options available, including the acquisition of potential businesses and assets which can satisfy the listing requirements,” Lasseters said.
According to a separate filing, company CEO Wong Baan Chun sold 200,000 shares on 18 October at S$0.0705 each in a market transaction, taking his stake down to 0.02 percent from 0.06 percent previously.