UPDATE: Singapore stocks Friday: AREIT, Suntec REIT, Raffles Education, Sabana REIT, Chip Eng Seng CLI, ALOG

An entrance to Suntec City mall; taken October 2018.An entrance to Suntec City mall.

Singapore companies in focus on Friday, 22 October 2021:

  • Ascendas REIT to acquire 11 logistics properties in the U.S.
  • Suntec REIT reports 3Q21 net property income climbed nearly 46 percent
  • Raffles Education: MAS and CAD demand documents in investigation of company
  • Sabana REIT posts improved occupancy, positive rental reversion in 3Q21, but notes uncertainty over Covid
  • Chip Eng Seng acquired the 30 percent of White Lodge Education Group Services (WLEGS) it doesn’t already own
  • Others: CapitaLand Investment, Ascendas REIT, AEM Holdings, Temasek Holdings, ARA LOGOS Logistics Trust (ALOG), The Hour Glass, GS Holdings, Second Chance Properties, Abundance International and Medi Lifestyle.

This item was originally published on Friday, 22 October 2021 at 12:55 a.m. SGT; it has since been updated to include Suntec REIT, Lum Chang, an additional item on Ascendas REIT and Raffles Education’s share price. 

Ascendas REIT

Ascendas REIT plans to acquire 11 last-mile logistics properties located in Kansas City in the United States for S$207.8 million, or around US$156 million, from third-party vendors ColFin 2017-11 Industrial Owner, LLC and ColFin Cobalt I-II Owner, LLC, the REIT said in a filing to SGX Friday.

Read more: Ascendas REIT to acquire 11 logistics properties in Kansas City

Suntec REIT

Suntec REIT reported Friday its third quarter net property income climbed 45.5 percent on-year to S$68.8 million on two newly acquired assets in London and the completed development at 477 Collins Street in Melbourne, Australia.

Read more: Suntec REIT reports 3Q21 net property income climbed nearly 46 percent

Raffles Education

Raffles Education has received a joint order from the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force requiring the company to provide documents for an investigation of a possible offence under the Securities and Futures Act, the company said in a filing to SGX Thursday.

The documents related to loan facilities from Affin Bank to Raffles K12 Sdn. Bhd. and Raffles Iskandar Sdn. Bhd., Raffles Education said.

Raffles Education’s shares restarted trade Friday morning; shares climbed around 18 percent to S$0.072 after having fallen around 26 percent before the trading halt before trade began Tuesday.

Read more: Raffles Education: MAS and CAD demand documents in investigation of company

Sabana Industrial REIT

Sabana Industrial REIT reported Thursday its portfolio occupancy improved in the third quarter to 85.3 percent, its highest since 2018, with 90,600 square feet of new leases signed, including multinational corporations (MNCs) in expansionary sectors such as healthcare, ambient and cold-chain logistics.

Read more: Sabana REIT posts improved occupancy, positive rental reversion in 3Q21, but notes uncertainty over Covid

CapitaLand Investment

Stephen Lee Ching Yen, a director at CapitaLand Investment, acquired 100,000 shares on the company in the market for S$350,000, bringing his holding to 0.004 percent, from 0.002 percent previously, according to a filing to SGX Thursday.

Ascendas REIT

The Bank of New York Mellon Corp. ceased to be a substantial shareholder of Ascendas REIT after its deemed interest fell to 4.64 percent from 5.01 percent previously on a decrease of around 15.56 million units pledged as collateral, according to a filing to SGX.

AEM Holdings and Temasek Holdings

Temasek Holdings‘ deemed interest in AEM Holdings, held via subsidiaries, declined to 8.99 percent from 9.01 percent due to the issuance of shares from the exercise of options, according to a filing to SGX Thursday.

ARA LOGOS Logistics Trust

ARA LOGOS Logistics Trust‘s manager said Thursday it has received a notification from its Chairman and non-executive Director Lim How Teck in relation to an announcement Lim is being investigated as part of a joint investigation of Raffles Education by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force over a potential offence under the Securities and Futures Act.

“Investigations are currently ongoing and none of the individuals including Mr. Lim have been placed on bail, arrested or charged for any offence,” the trust’s manager said in a filing to SGX. “The manager wishes to inform that the matter above is not related to the manager, ALOG and the business and operations of the manager and ALOG are not affected by the investigation.”

Read more: Raffles Education: MAS and CAD demand documents in investigation of company

Chip Eng Seng

Chip Eng Seng’s wholly owned subsidiary Sing-Ed Asia has acquired the 30 percent of White Lodge Education Group Services (WLEGS) it doesn’t already own from Ganesh Kanapathy and Jayne Nadarajoo for S$2.7 million, the company said in a filing to SGX Thursday.

“The acquisition has resulted in the White Lodge Group and the Invictus Group becoming wholly-owned by the company. The company will then be in a position to rationalise and strengthen the branding and growth of all its preschools, including those currently under the
White Lodge brand,” Chip Eng Seng said in the statement.

Read Chip Eng Seng’s filing to SGX.

Lum Chang

Lum Chang said Thursday it has completed the divestment of a serviced residence block and ancillary facility in the U.K.

Read more: UPDATE: Lum Chang subsidiary enters deal to sell London serviced residences

The Hour Glass

FMR LLC and its wholly owned subsidiary Fidelity Management & Research, which have deemed interests in The Hour Glass via various funds and accounts, saw their deemed interest decline to 7.93 percent from 8.03 percent after the disposal in the market of 682,700 shares for around S$1.1 million, according to a filing to SGX Thursday.

GS Holdings

Pang Pok, CEO and executive director of GS Holdings, sold 20 million shares of the company to three individuals in an off-market transaction for S$6 million, taking his total interest in the company to 42.9 percent from 53.48 percent previously, according to a filing to SGX.

Ang Siew Kiock, Pang Pok’s spouse, is deemed interested in the shares, also holds 5 million shares, which Pang Pok is also deemed interested in, the filing said.

Second Chance Properties

Second Chance Properties guided Thursday for net profit for the fiscal year ended 31 August to “increase significantly” compared with S$4.45 million in the year-ago period, mainly on increased dividend income on securities classified as financial assets, and as the gold business performed significantly better on-year.

The company also has a realised gain of S$4.08 million on the cash acquisition of two equity instruments classified as financial assets, Second Chance Properties said in a filing to SGX.

The financial statements are expected to be release on or around 28 October, the filing said.

Read Second Chance Properties’ filing to SGX.

Abundance International

Abundance International’s wholly owned subsidiary Orient-Salt Chemicals (Shanghai) has sold its remaining around 1.21 million investment shares in Jiangsu Sopo Chemical for 19.98 million yuan in cash, or 16.51 yuan a share, a premium to the 16.45 yuan closing share price on Wednesday.

The company plans to use the net proceeds of around S$3.74 million for general working capital, Abundance said in a filing to SGX.

Read Abundance International’s filing to SGX.

Medi Lifestyle

Christopher Nghia Do, who resigned as CEO, president and director of Medi Lifestyle in 2020, ceased to be a substantial shareholder of the company after selling 500,000 shares at S$0.031 each in a market transaction, taking his total interest to 4.98 percent from 5.08 percent previously, according to a filing to SGX Thursday.

 

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