Singapore companies in focus on Monday, 8 November 2021:
- Golden Energy to acquire 80 percent of BHP Mitsui Coal for as much as US$1.35B
- Keppel, Temasek, Incitec Pivot enter MOU to study producing green ammonia in Australia
- Fraser and Neave posts fiscal year net profit slipped despite higher beverage volume
- SIA Engineering posts fiscal 2Q swung to net profit as more flights were handled
- IREIT Global: Sole tenant at Darmstadt Campus to vacate property in 2022
Others: ISOTeam and Sunseap, Cromwell European REIT, Yanlord Land, First Ship Lease Trust (FSLT), VCPlus, LHN Group, Allied Technologies, Sunrise Shares Holdings, Kitchen Culture and Sanli Environmental.
This item was originally published on Saturday, 6 November 2021 at 20:14 SGT; it has since been updated to add Golden Energy And Resources (GEAR) and Alset International and American Medical REIT (AMRE).
Keppel, Temasek and Incitec Pivot
Keppel Infrastructure Holdings, Australia’s Incitec Pivot and Singapore state-owned investment company Temasek Holdings have entered a memorandum of understanding (MOU) to study the feasibility of producing green ammonia in Australia for export to meet demand for carbon-free energy.
Golden Energy And Resources (GEAR), BHP and Stanmore Resources
Golden Energy And Resources (GEAR) has entered a deal via subsidiary Stanmore Resources to acquire all of Australian mining giant BHP’s 80 percent interest in BHP Mitsui Coal (BMC) for as much as US$1.35 billion, according to filings to ASX and SGX Monday.
SIA Engineering reported Friday a fiscal second quarter net profit of S$10.5 million, improving by S$40.2 million on-year as more flights were handled. But it noted the number of flights remains a fraction of pre-pandemic levels.
Fraser and Neave
Fraser and Neave reported Friday its fiscal year net profit fell 3.4 percent on-year to S$145.2 million as higher beverages and dairy volume was offset by higher raw materials and freight costs and unfavorable foreign currency effects.
IREIT Global said Friday GMG Generalmietgesellschaft mbH, the sole tenant at its Darmstadt Campus, intends to vacate that property at lease expiration in late November 2022.
Yanlord Land reported Friday that for October, the group along with its joint ventures and associates had total contracted presales from residential and commercial units and car parks of 4.292 billion yuan on a gross floor area of 132,070 square meters, down 53.8 percent and 51.3 percent on-year, respectively.
For the January-to-October period, the total contracted presales from residential and commercial units and car parks was around 41.062 billion yuan and 1,32 million square meters, down 34.3 percent and 23 percent on-year, respectively, the Chinese property developer said.
Cromwell European REIT
Cromwell European REIT has established a S$750 million multicurrency perpetual securities program, with DBS Bank and OCBC appointed as the arrangers and dealers, the REIT said in a filing to SGX Friday.
ISOTeam and Sunseap
ISOTeam said Friday it has sold its entire equity interest — around 1.18 percent on an as-converted basis — in Singapore solar-power player Sunseap to EDP Renovaveis (EDPR) for around S$12.2 million. ISOTeam had invested S$5.0 million for the Sunseap stake, the company said in a filing to SGX.
The acquisition from ISOTeam follows EDPR entering a deal earlier this week to acquire a 87.4 percent stake in Sunseap, including 47.5 percent from Thai energy player Banpu, according to a Reuters report. Sunseap’s other shareholders have included Temasek Holdings, Sumitomo Mitsui Finance and Leasing, Sumitomo Corp., Dutco Group and Yonden, according to Crunchbase data.
Alset International and American Medical REIT (AMRE)
Alset International said Monday American Medical REIT (AMRE) has acquired three hospitals in Fort Worth, Texas, Plano, Texas, and Pittsburgh, Pennsylvania, for a total US$62 million. The deals followed Alset’s subscription to AMRE’s convertible notes, Alset said in a filing to SGX.
Kitchen Culture reported Friday its fiscal year net loss widened to S$9.87 million from S$4.77 million the previous year as the Covid-19 pandemic impacted operations.
LHN Group said Friday its joint venture — between its indirect wholly owned subsidiary Coliwoo Holdings and LHN’s 50 percent-owned joint venture Four Star with W&S Star — has completed the acquisition of the property at 471 Balestier for S$15 million.
First Ship Lease Trust
FSL Trust Management sold 8.62 million units of First Ship Lease Trust (FSLT) in the market at S$0.085 to S$0.089 each, taking its interest in the trust down to 77 units from around 8.62 million, or an around 0.49 percent stake, previously, according to a filing to SGX Friday.
Michael Chalkias, a non-executive non-independent director of FSLT’s manager, and Stathis Topouzoglou, the non-independent non-executive chairman of the manager, saw their deemed intesests in the trust fall to 72.6 percent from 73.09 percent after the transaction as he is deemed interested in FSL Trust Management, according to a separate filing to SGX.
WA Consolidated sold all of its 115.42 million shares of VCPlus to WC Realty I for S$2.65 million in an off-market transaction, according to a filing to SGX Friday.
VCPlus Managing Director Lim Chiau Woei wholly owns WA Consolidated and is deemed interested in its holdings. Lim’s total interest in VCPlus fell to 6 percent from 8.54 percent previously after the transaction, the filing said.
Allied Technologies warned Friday it expected to report a third quarter net loss and a net profit for the January-to-September period due to Covid-related lockdown restrictions in Vietnam and Malaysia during the quarter.
“This was coupled with the recent global chip shortage, which caused a significant decline in global demand and production for the products of our customers in the metal stamping segment, mainly consisting of office equipment such as copiers,” Allied Technologies said in a filing to SGX.
Sunrise Shares Holdings
New Zealand Luck Star Investment became a substantial shareholder of Sunrise Shares Holdings after it acquired all of All Powerful Universe Investment, which holds a 14.81 percent direct interest in Sunrise Shares, from Cheung Chi Hung, according to a filing to SGX Friday.
Cheung had owned all of All Powerful and NZ Luck Star, the filing said.
Sanli Environmental reported Friday its fiscal first half net profit after tax jumped by more than five times on-year to S$870,000 on increased contribution from the operations and maintenance (O&M) segment, with the completion of certain high value and high margin O&M contracts.
Revenue for the six months ended 30 September rose 8.3 percent on-year to S$27.96 million, mainly on higher contributions from both the engineering, procurement and construction (EPC) segment and the O&M, the company said in a filing to SGX.