Singapore companies in focus on Tuesday, 9 November 2021:
- SGX adds CICC HKF as derivatives trading member
- Debao Property: FY2017 dividend payment delayed further due to early subcontractor payments
- Chemical Industries (Far East) reports fiscal 1H swung to net loss on Myanmar impairment
Others: Parkway Life REIT, King Wan Corp. CapitaLand Integrated Commercial Trust (CICT), Chip Eng Seng, SingHaiyi, OKP Holdings, Serial System, Ezion Holdings, Vividthree, UnUsUaL, Libra Group, SIIC Environment Holdings, Ban Leong Technologies and HGH Holdings.
This item was originally published on Tuesday, 9 November 2021 at 2:25 a.m. SGT; it has since been updated to include Sembcorp Marine (SembMarine) and ISOTeam.
SGX and CICC HKF
Singapore Exchange (SGX) announced Monday it has added China International Capital Corp. Hong Kong Futures (CICC HKF) as a trading member of the derivatives market.
Sembcorp Marine (SembMarine) and Temasek
Startree Investments, a wholly owned indirect subsidiary of Singapore state-owned investment company Temasek Holdings, reported Tuesday its direct interest in Sembcorp Marine (SembMarine) has risen to 54.57 percent from 46.6 percent previously.
Fullerton Management, which wholly owns Startree Investments, and Temasek, which wholly owns Fullerton Management, are both deemed interested in the Startree’s SembMarine shares, according to a filing to SGX. Temasek is also deemed interested in SembMarine shares held via DBS Group Holdings, bringing its total interest to 54.58 percent, the filing said.
CapitaLand Integrated Commercial Trust
Bartley Investments, Mawson Peak Holdings, Glenville Investments and TJ Holdings (III) — all indirect wholly owned subsidiaries of Singapore state-owned investment company Temasek Holdings — saw their deemed interest in CapitaLand Integrated Commercial Trust (CICT) rise to 23 percent from 22.97 percent previously.
That was after Premier Healthcare Services International, a subsidiary of CapitaLand Investment, which is an indirect subsidiary of CLA Real Estate, acquired 2.54 million CICT units for S$2.0549 each as payment of the trust’s management fee, according to a filing to SGX Monday. CLA Real Estate is an independently managed Temasek portfolio company.
CLA Real Estate and its subsidiary CapitaLand Ltd. are also deemed interested in the units, according to a separate SGX filing Monday.
Chip Eng Seng, SingHaiyi and Chuan Investments
Chip Eng Seng said the joint ventures formed in relation to the proposed acquisition of Maxwell House have entered into a facility agreement with UOB, DBS Bank and OCBC for a secured loan of up to S$387.24 million.
The proceeds of the loan will partially finance the acquisition of the property, the payment of the differential premium and the lease upgrading premium for a fresh 99-year lease, and the construction costs, Chip Eng Seng said in a filing to SGX.
Under the loan terms, the joint venture shareholders are required to proportionally guarantee the loan, with Chin Eng Seng guaranteeing up to 40 percent, SingHaiyi guaranteeing up to 30 percent and Hong Kong-listed Chuan Investments (CIPL) guaranteeing the remainder, the filing said.
Building maintenance player ISOTeam Ltd. has entered a memorandum of understanding (MOU) with Acclivis Technologies and Solutions and Nippon Paint (Singapore) to develop autonomous painting drones to use on building facades and structures, according to a filing to SGX Tuesday.
Chemical Industries (Far East)
Chemical Industries (Far East) reported Monday it swung to a fiscal first half net loss of S$2.66 million from a year-ago net profit of S$3.20 million, mainly due to an impairment loss of S$6.1 million for property, plant and equipment in Chemical Industries (Myanmar).
Debao Property Development said Monday the payment of its final dividend for the 2017 financial year was delayed to end-December from end-September as it was unexpectedly required to pay its subcontractors early.
OKP Holdings said Monday it landed a S$39.9 million contract from Singapore’s national water agency PUB for drainage improvement works at Benoi Road Outlet Drain. The contract is expected to be completed by 5 December 2024, the company said in a filing to SGX.
King Wan Corp.
King Wan Corp. said Monday it has secured new mechanical and electrical projects in Singapore worth a total S$29.6 million over the April-to-September period. The major new projects include works at four public housing developments, the company said in a filing to SGX.
The projects have expected completion dates from 2022-2026, the filing said.
Parkway Life REIT
Jeorg Ayrle, a non-executive director of Parkway Life REIT‘s manager, acquired 29,000 units of the REIT in the market for S$136,300, according to a filing to SGX. Ayrle did not hold any units prior to the transaction, the filing said.
Goh Bak Heng, group CEO of Serial System, acquired 100,000 shares of the company in the market for S$12,351, taking his total interest to 40.432 percent from 40.421 percent previously, according to a filing to SGX Monday.
Ezion Holdings said Monday it had applied for an extension of time to announce its third quarter financial statements, in part because it had cut headcount by 71 percent, including the finance team, under its restructuring and cost-cut plan.
In addition, Ezion said it needed more time to assess its options over external third parties which expressed interest in investing in the company, and prepare its financial statements on the basis of the outcome of the discussions.
Vividthree reported Monday its fiscal first half net loss widened to S$1.81 million from S$1.50 million in the year-ago period, even as revenue surged 298 percent on-year to S$1.19 million.
The post-production segment contributed significantly to revenue growth, partly offset by the content production segment not generating any revenue as some projects were put on hold due to Covid-related restrictions, the company said in a filing to SGX.
UnUsUal reported Monday its fiscal first half net loss narrowed to S$1.6 million from S$3.4 million in the year-ago period, even as revenue fell 63.6 percent on-year to S$400,000, due to the pandemic.
“After a lull in business activity because of the extended pandemic closure, we have started in a predicted manner in bringing back live entertainment. Demand for live events is taking off as reopening across the region starts,” Leslie Ong, CEO of the company, said in a filing to SGX.
“We presented La Clique, a multi award-winning show in Singapore staged at Marina Bay Sands Expo & Convention Centre, from 18 Sep – 7 Nov 2021. This will be followed with another local live show at the same venue. We are confident that the gradual reopening plans will follow with the presentation of live shows with larger capacity,” Ong added.
Libra Group said Monday its subsidiary Kin Xin Engineering had received a letter of demand from a solicitor representing Connols-Air (S) for S$35,372 allegedly owed for purchase of goods.
“The Company is seeking legal advice on the letter of demand and will take the appropriate action accordingly,” Libra said in a filing to SGX.
SIIC Environment Holdings
SIIC Environment Holdings reported Monday its January-to-September net profit increased 15.5 percent on-year to 513.80 million yuan on revenue of 5.07 billion yuan, up 22.3 percent on-year.
The revenue rise was “mainly due to the growth of operating and maintenance revenue from service concession arrangements and construction revenue growth driven by accelerated progress of construction projects,” the company said in a filing to SGX.
Construction growth was in part due to a larger amount of activities in progress compared with the year-ago period, which was impacted by the pandemic, the filing said.
Ban Leong Technologies
Ban Leong Technologies reported Monday its fiscal first halt net profit climbed 64.9 percent on-year to S$3.86 million, on revenue of S$108.76 million, up 24.9 percent on-year.
The boost was mainly from the IT accessories segment, while the multimedia and storage segments also improved, the company said in a filing to SGX.
“These were mainly driven by strong demand for video collaboration tools required as consumers work from home and learn from home. Demand for gaming accessories also improved due to popularity of online video games amid the pandemic-led stay at home environment,” Ban Leong said.
HGH Holdings said Monday it has entered a non-binding memorandum of understanding (MOU) with AAEX to explore a potential collaboration to develop a blockchain computing power financial service platform integrating computing power services, financial services, circulation services and information services.