UPDATE: Singapore stocks Tuesday: Sembcorp, Gallant, CLCT, Keppel DC REIT, Mapletree Logistics, ESR-REIT, ALOG, Sri Trang Agro

Electricity advertisement for Sembcorp Industries. Note: Photo taken pre-CovidElectricity advertisement for Sembcorp Industries. Note: Photo taken pre-Covid

Companies in focus on Tuesday, 26 October 2021:

  • Sembcorp, Gallant enter separate deals to supply renewable energy to Singapore from Indonesia
  • Keppel DC REIT posts 3Q21 net property income rose around 2 percent
  • Mapletree Logistics Trusts posts fiscal 2Q net property income grew around 22 percent
  • ESR-REIT: 52-week highs a key factor in setting price to acquire ARA LOGOS Logistics Trust

Others: Keppel Corp., Sri Trang Agro-Industry, Alset International, Totm Technologies, Vicplas International and Vallianz Holdings.

This item was originally published on Tuesday, 26 October 2021 at 1:31 a.m. SGT; it has since been updated to include CapitaLand China Trust (CLCT), Keppel REIT, ARA LOGOS Logistics Trust and G.H.Y Culture & Media Holding.

The item on Vicplas International has been corrected.

Sembcorp Industries and Gallant Venture

Sembcorp Industries and Gallant Venture have separately entered deals to supply renewable energy produced in Indonesia to Singapore, according to filings to SGX Monday.

The announcements come as Singapore’s Minister for Trade and Industry Gan Kim Yong said Monday the city-state plans to import up to 4 gigawatts of electricity by 2035, or around 30 percent of total supply, from Malaysia and Indonesia.

Read more: Sembcorp, Gallant enter separate deals to supply renewable energy to Singapore from Indonesia

Mapletree Logistics Trust

Mapletree Logistics Trust reported Monday its fiscal second quarter net property income grew 21.5 percent on-year to S$144.45 million on higher revenue from existing properties, contributions from accretive acquisitions completed in the previous year and higher occupancy at Mapletree Ouluo Logistics Park Phase 2, which completed redevelopment in the year-ago first quarter.

Read more: Mapletree Logistics Trusts posts fiscal 2Q net property income grew around 22 percent

Keppel DC REIT

Keppel DC REIT reported Monday its third quarter net property income increased 2.3 percent on-year to S$63.78 million, as leasing momentum continued in the quarter, with healthy renewal and expansion of leases with existing clients.

Read more: Keppel DC REIT posts 3Q21 net property income rose around 2 percent

ESR-REIT and ARA LOGOS Logistics Trust

ESR-REIT said Monday a key consideration in setting its bid for ARA LOGOS Logistics Trust, or ALOG, was the 52-week historical high prices of their units.

Read more: ESR-REIT: 52-week highs a key factor in setting price to acquire ARA LOGOS Logistics Trust

CapitaLand China Trust

CapitaLand China Trust reported Tuesday its net property income for the January-to-September period jumped 81.1 percent on-year to 903.4 million yuan, or around S$190.61 million, on the acquisition of the 49 percent of Rock Square it didn’t already own and the new contributions from the addition of the business parks.

Read more: CapitaLand China Trust posts 9M21 net property income climbs on business park assets’ contributions

ARA LOGOS Logistics Trust

ARA LOGOS Logistics Trust (ALOG) reported Tuesday its third quarter net property income increased 13.9 percent on-year to S$26.09 million, boosted by the acquisition of the Australian portfolio in April 2021.

Read more: ARA LOGOS Logistics Trust reports 3Q21 net property income rose 14 percent on Australian acquisitions

Keppel REIT

Keppel REIT reported Tuesday its net property income attributable to unitholders for the January-to-September period increased 42.6 percent on-year to S$116.8 million, mainly on contributions from Victoria Police Centre in Melbourne, Pinnacle Office Park in Sydney and Keppel Bay Tower in Singapore.

Read more: Keppel REIT posts 9M21 net property income climbed around 43 percent

Keppel

Keppel Corp. provided an update Monday on ongoing legal proceedings filed by the eight funds managed by EIG Management Co. against Keppel Offshore & Marine; the suit is seeking around US$819.5 million in total, including punitive damages.

The parties are due to file briefs on 2 November, and additionally, both parties have filed for summary judgement, Keppel said in a filing to SGX, adding the motion is common in U.S. lawsuits, even when faced with a low chance of success.

“In order to prevail on summary judgment, the applicant for summary judgment must show that it is entitled to judgment based on undisputed facts established during the fact discovery,” Keppel noted. “In this case, there are many disputed facts concerning the plaintiffs’ claim for aiding and abetting fraud, particularly with respect to reliance, causation and damages.”

Keppel O&M’s U.S. counsel is of the opinion the fact-discovery process went favorably for the company, with “very good defenses” to the plaintiffs claim, the filing said.

Read Keppel’s SGX filing on the lawsuit.

Sri Trang Agro-Industry

Sri Trang Agro-Industry’s subsidiary Sri Trang Rubber and Plantation (SRP) has been granted a license to produce narcotics of category five, specifically hemp, for commercial or industrial purposes in the Amphur Term, Lampang province, the company said in a filing to SGX Monday.

The outputs from the hemp plants will be supplied to a customer which SRP has agreed on a partnership with, the filing said.

Crops are expected to be harvested from the experimental plot in early 2022, with “digital traceability” to be applied to all products, the filing said.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding said Tuesday that due to Malaysia’s Covid-related restrictions, it had moved some filming and production activities to China in the second quarter, with filming and production of drama series Sisterhood 南洋女儿情 resuming in Malaysia this month.

Filming and production activities are progressing simultaneously in both China and Malaysia and the drama series is on track for completion on the revised timeline, the company said in a filing to SGX.

Read the company’s filing to SGX.

Alset International

Alset International said Monday its indirect subsidiary Alset EHome has acquired around 19.5 acres of partially developed land it will use to develop an Ehome community, to be named Alset Villas, located near The Woodlands development in Houston, Texas.

“The addition of Alset Villas will further strengthen the group’s existing portfolio of single-family home projects. Alset EHome is targeting to develop approximately 70 EHomes within Alset Villas for rent and/or for sale,” the company said in a filing to SGX. “Alset EHome continues to build-out healthy, sustainable communities with EHomes that will be integrated with a clean energy ecosystem encompassing housing, transport, and electricity.”

Read Alset International’s filing to SGX.

Totm Technologies

Totm Technologies said Monday it has completed a US$8 million investment, via the subscription to new shares, in TECH5. In addition, Totm Technologies has received exclusive distribution and value-added reseller rights for TECH5’s biometric technology in Cambodia, Singapore, Thailand and Vietnam, the company said in a filing to SGX.

Read Totm Technologies’ filing to SGX.

Vallianz Holdings

Vallianz Holdings has obtained a contract with Fisheries Research Institute (FRI) of Taiwan to design and build three research vessels, which will be built at its shipyard in Batam, Indonesia, the company said in a filing to SGX.

Read Vallianz Holdings’ filing to SGX.

Vicplas International

Vicplas International said Monday 18,854,200 shares registered in the estate account of the late Robert Gaines-Cooper have been transferred to his widow, Jane Rose Philomene Gaines-Cooper. She was already deemed interested in the shares and her total interest in the company remained at 4.67 percent, the company said in a filing to SGX.

CORRECTION: In a filing to SGX on Thursday, 28 October 2021, Vicplas International corrected the percentage of the company’s shares controlled by Jane Rose Philomene Gaines-Cooper. The correct percentage is 4.67 percent, the company said. 

 

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