Singapore stocks Tuesday: Ascendas REIT, SPH, Cuscaden Peak, Temasek, SIA, Olam, AIMS APAC REIT

An artist's rendering of the areal view of the planned redevelopment of 1 Science Park Drive in Singapore by Ascendas REIT and CapitaLand Development (CLD). Credit: CapitaLandAn artist's rendering of the areal view of the planned redevelopment of 1 Science Park Drive in Singapore by Ascendas REIT and CapitaLand Development (CLD). Credit: CapitaLand

Singapore companies in focus on Tuesday, 16 November 2021:

  • UPDATE: Cuscaden Peak likely wins SPH after topping Keppel bid with mic drop offer
  • Ascendas REIT and CapitaLand Development to invest S$883M to redevelop 1 Science Park Drive
  • Temasek prices five-year bond offering, with public and placement tranches
  • Singapore Airlines’ October group-level passenger capacity reaches 34 percent of pre-Covid levels

Others: Temasek Holdings, AIMS APAC REIT, Olam International, Aoxin Q & M Dental Group and Karin Technology.

SPH, SPH REIT, Cuscaden Peak and Keppel

Cuscaden Peak appears victorious in the bidding war over SPH, entering an implementation deal after the consortium’s sweetened S$2.40 cash-and-share bid beat Keppel Corp.’s S$2.351 final offer.

SPH and SPH requested on Monday evening that the trading halt on their shares be lifted.

Read more: UPDATE: Cuscaden Peak likely wins SPH after topping Keppel bid with mic drop offer

Ascendas REIT and CapitaLand Development

Ascendas REIT and CapitaLand Development (CLD) have entered a joint venture to invest S$883 million to redevelop Singapore’s 1 Science Park Drive into a life science and innovation campus, the companies said in a joint filing to SGX Monday.

Read more: Ascendas REIT and CapitaLand Development to invest S$883M to redevelop 1 Science Park Drive

Temasek Holdings

Singapore state-owned investment company Temasek Holdings has priced its five-year bond offering at 1.8 percent after an institutionally driven book-building process, with plans for placement and a public offering tranches.

Read more: Temasek prices five-year bond offering, with public and placement tranches

Singapore Airlines

Singapore Airlines reported Monday its October group-level passenger capacity, measured in available seat kilometers, grew 6 percent on-month to reach 34 percent of pre-Covid levels. Passenger traffic, measured in revenue passenger kilometers, grew 13.9 percent on-month in October, SIA said in a filing to SGX.

At the group level, Singapore Airlines carried 189,700 passengers in October, up from 49,000 in the year-ago month, the filing said.

In an update, SIA said its budget carrier Scoot will launch a new long haul route to London’s Gatwick Airport via Bangkok, with service three times a week, starting March 2022. London will be Scoot’s third European destination, after Athens and Berlin, the filing said.

The group’s vaccinated travel lane (VTL) network will include Australia, South Korea and Switzerland by November, with Canada to be added from 2 December, the filing said. SIA is finalising flight schedules between Kuala Lumpur and Singapore, the filing said.

Read Singapore Airlines’ filing to SGX.

Temasek

Temasek has launched the Asia Sustainable Foods Platform to provide services and support, including as an investor, to food-tech companies from product development through commercial scale up, Singapore’s state-owned investment company said Monday.

Asia is expected to require around US$1.55 trillion of investment over the next decade to satisfy growing consumer demands for healthier and more sustainable food options. We need to evolve our current capabilities to bolster food security and strengthen supply chains,” said Yeoh Keat Chuan, deputy head for the enterprise development group at Temasek, in a press release.

Read Temasek’s statement on the Asia Sustainable Foods Platform.

SaladStop!, Temasek, DSG Consumer Partners, Vulcan Capital, K3 Ventures and East Ventures

SaladStop! Group, which has a business model of providing healthy fast-food meals, raised S$12 million in a series B investment round led by Temasek, with participation from new investors Vulcan Capital, K3 Ventures, and East Ventures; existing investor DSG Consumer Partners also participated, according to a press release Sunday.

The funds will be used for digital transformation, including investing in proprietary technologies, and to expand to four new countries by 2025, the statement said.

Previous investors have included Hera Capital.

Read the statement on the investment round.

Olam International

Olam International said Monday it obtained a multi-tranche revolving credit facility of a total US$1.25 billion. The two-tier facility includes a multi-year revolving credit facility of US$1.025 billion and a three-year term loan facility of US$225 million, Olam said in a filing to SGX.

The US$1.025 billion revolving credit facility is split into three tranches — a one-year tranche of US$205 million, a two-year tranche of US$410 million and a three-year tranche of US$410 million, Olam said.

The proceeds will be used to refinance existing loans, Olam said.

Read Olam’s filing to SGX.

AIMS APAC REIT

AIMS APAC REIT said Monday it has completed the acquisition of the Woolworths headquarters in New South Wales, Australia, for A$463.25 million.

“Fully leased to a highly reputable tenant, this property has the strategic potential for long-term redevelopment in terms of future site expansion,” Russell Ng, the CEO-designate of the REIT’s manager, said in a statement filed to SGX.

Read more: AIMS APAC REIT to acquire Woolworths headquarters in Sydney for A$463.25M

Aoxin Q & M Dental Group

Aoxin Q & M Dental Group said Monday that due to a fresh Covid-19 cluster detected in China’s Liaoning Province, all medical facilities have been directed to temporarily suspend non-emergency medical treatments, including dental services.

Six out of the group’s 16 facilities have been temporarily closed and the re-opening date has yet to be announced, the dental group said in a filing to SGX.

Read Aoxin Q & M’s filing to SGX.

Karin Technology

Karin Technology said Monday it has entered a deal to sell a property located on level 7 of Toer 1 at Kerry Everbright City, in Zhabei District, Shanghai, for 3.86 million yuan, or around HK$4.70 million. Based on an independent valuation, the market value of the property was around HK$4.2 million as of end-June, the company said in a filing to SGX.

 

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