Singapore stocks Tuesday: Mapletree Logistics, Keppel, Wilmar, Darco, First Sponsor, Medtecs, Pine Capital

Singapore street scene at Duxton HillSingapore street scene at Duxton Hill

Singapore companies in focus on Tuesday, 23 November 2021:

  • Mapletree Logistics Trust to acquire logistics assets in China, Vietnam, Japan for S$1.47B
  • Mapletree Logistics Trust to acquire Japan logistics property for around S$416M
  • Keppel lands S$110M contract for offshore wind farm substations
  • UOB APAC Green REIT ETF to make trading debut

Others: First Sponsor, Del Monte Pacific, Wilmar International, Darco Water Technologies, OUE Commercial REIT, SingHaiyi Group, Medtecs International, Pine Capital, VCPlus, Hatten Land, Rex International and Sarine Technologies.

Mapletree Logistics Trust

Mapletree Logistics Trust has entered deals to acquire a portfolio of 16 logistics properties, including 13 in China and three in Vietnam for 4.11 billion yuan (S$870 million) and US$95.9 million (S$129.9 million), respectively, the trust said in a filing to SGX late Monday.

Read more: Mapletree Logistics Trust to acquire logistics assets in China, Vietnam, Japan for S$1.47B

Mapletree Logistics Trust

Mapletree Logistics Trust has entered a deal to acquire the Kuwana Logistics Centre in Japan for 35 billion yen, or around S$416.3 million, from an unrelated third party, the trust said in a filing to SGX late Monday.

Read more: Mapletree Logistics Trust to acquire Japan logistics property for around S$416M

UOB APAC Green REIT ETF

The UOB APAC Green REIT ETF is set to begin trading at the market open on Tuesday, with Singapore dollar and U.S. dollar shares. The ETF, which will track the iEdge-UOB APAC Yield Focus Green REIT Index, has an initial offer price of S$1.00 a share.

Read more: UOB APAC Green REIT ETF files prospectus for listing

Keppel Corp.

Keppel Offshore & Marine’s wholly owned subsidiary Keppel FELS has obtained an around S$110 million contract from a renewable energy company to build two offshore substations (OSS), the company said in a filing to SGX Monday.

Read more: Keppel lands S$110M contract for offshore wind farm substations

First Sponsor and ICD Property

A consortium led by First Sponsor and Melbourne-based ICD Property has received formal approval from the Central Sydney Planning Committee for its planned 50-storey mixed-use tower at the Tattersalls Club in the city center, according to a filing to SGX Monday.

Read First Sponsor’s filing to SGX.

Del Monte Pacific

Del Monte Pacific may arrange a benchmark-sized U.S.-dollar denominated offering of three-year unrated senior notes, the food and beverage producer said in a filing to SGX Monday.

The company has mandated Credit Suisse as sole global coordinator and Union Bank of the Philippines as domestic lead arranger to arrange a series of calls with fixed-income investors in Asia and Europe, the filing said, adding an offering of notes may follow.

Wilmar International

Wilmar International said Monday it was ranked no.1 in the Sustainable Palm Oil Transparency Toolkit’s 2021 assessment on transparency and public disclosure on its polices and efforts on environmental, social and governance (ESG) matters.

Read Wilmar’s filing to SGX.

Darco Water Technologies

Darco Water Technologies said Monday Emsus Co. and Do Yun Yu have made an additional payment of US$100,000 to the company toward the first settlement, but the second and third settlement payments totalling US$813,000 in principal, plus accrued interest, are outstanding.

Read more: Darco Water: Issued second letter of demand to Emsus on missed payments

OUE Commercial REIT

OUE Commercial REIT‘s manager has tapped Han Khim Siew, age 47, as its CEO and executive director, effective 7 February 2022, the REIT said in a filing to SGX Monday.

Read more: Executive Moves: OUE Commercial REIT taps Han Khim Siew as CEO

SingHaiyi Group

Haiyi Treasure, which has offered to acquire all of SingHaiyi Group, now owns, controls or has agreed to acquire shares representing around 83.69 percent of the property developer, according to a filing to SGX Monday.

Medtecs International

Medtecs International said Monday its 50:50 joint venture Resilient Medical — between its subsidiary Medtecs (Asia Pacific), or MAP, and ACO International — has located a site in a special economic zone in Cambodia to build a manufacturing facility for disposable nitrile gloves for medical use.

Construction of the manufacturing facility began in July and is expected to be completed in 2022’s first quarter, Medtecs said.

Read Medtecs International’s filing to SGX.

Medtecs International

Medtecs International reported Monday its January-to-September net profit dropped 77.2 percent on-year to US$19.26 million on revenue of US$115.36 million, down 59.8 percent on-year.

“Demand for the group’s personal protective equipment (PPE) has lowered compared to previous quarters due to completion of stock-piling exercises by our existing customers in 2020, the subsequent inventory adjustment attributable to certain customers, and the stabilisation of the supply and prices of the PPE market globally,” Medtecs said in a filing to SGX.

“Profitability also declined substantially due to lower revenues, a shift in the group’s revenue stream to lower-margined OEM items, and higher selling and distribution costs,” the company said.

Read Medtecs International’s filing to SGX.

Pine Capital

Pine Capital has entered a non-binding term sheet for GENV Holdings to subscribe for new shares in a reverse takeover of the Catalist-listed company, which currently doesn’t have a core operating business.

Read more: Pine Capital enters reverse takeover deal with GENV Holdings

VCPlus

VCPlus said Monday it has entered a deal to advise GENES Group — including Enercon Asia, GAED Holdings and Zaffra Solar — on the development and adoption of blockchain and other technology services for the energy sector aimed at improving energy efficiency, deployment of renewable energy and energy management.

Read VCPlus’ filing to SGX.

Hatten Land

Hatten Land said Monday it has completed the placement of 20 million new shares to Golden Summit International at S$0.06 each, with the new shares expected to begin trading on SGX on or around 24 November.

Melaka-based Hatten Land is a Malaysian property developer, specialising in integrated residential, hotel and commercial developments; it is the property development arm of property-to-retail-to education conglomerate Hatten Group.

Rex International

Rex International said Monday its indirect, wholly owned subsidiary Rex Oman has entered a deal to acquire 10,978 preference shares in its 86.37 percent-owned subsidiary Masirah Oil (MOL) from 10 parties for US$2.71 million, in a transaction that would raise its ownership of MOL to 91.81 percent.

“This will allow the group to have greater control over the day-to-day operations of MOL, which has become an oil-producing company in the last two years,” Rex said in a filing to SGX.

Read Rex International’s filing to SGX.

Sarine Technologies

Sarine Technologies said Monday the Commercial Court in Surat, India, has issued an injunction against diamond manufacturer Rudra Diam permanently prohibiting them from using infringing and pirated versions of Sarine’s Advisor software and has required Rudra Diam to purchase valid Advisor workstations.

Sarine Technologies, which is listed in both Singapore and Tel Aviv, develops precision technology products for evaluating, measuring and trading diamonds and gems.

 

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