Singapore companies in focus on Thursday, 2 December 2021:
- SGX launches leveraged and inverse products from Phillip Capital
- UPDATE: Olam acquires 10 percent of Saudi flour milling company
- Olam gets US$150M loan for sustainable cotton procurement
- Stake changes: Hazelview Securities acquires more Daiwa House Logistics Trust units
Others: M1, Keppel Corp., SPH, OCBC, Mapletree Commercial Trust, QT Vascular, JB Foods, Singapore Paincare Holdings, IFS Capital, Trendlines Group, Hatten Land, Addvalue Technologies and Jasper Investments.
Singapore Exchange (SGX) said Wednesday it launched leveraged and inverse products from Phillip Capital Management, with the listing of the Phillip MSCI Singapore Daily (2X) Leveraged and Phillip MSCI Singapore Daily (minus 1x) Inverse Products (L&I products).
Olam International has acquired a 10 percent stake in a Saudi flour milling company as part of a consortium including National Agricultural Development Co. (NADEC), Al Rajhi International for Investment Co. and Ajlan & Bros, the Singapore-listed agri-business said in a filing to SGX Wednesday.
Olam International has obtained a US$150 million financing facility tied to procuring sustainable cotton under the Better Cotton Initiative (BCI), the Singapore-listed agri-business said in a filing to SGX Wednesday.
M1 and Keppel Corp.
M1, via its wholly owned Malaysia subsidiary AsiaPac Technology, entered a deal to acquire up to 70 percent of Glocomp Systems and its affiliated companies, Global Computing Solutions (GCS) and GCIS, for up to 111 million ringgit, or around S$36 million, the companies said in a filing to SGX Wednesday.
Daiwa House Logistics Trust and Hazelview Securities
Hazelview Securities acquired 3.48 million units of Daiwa House Logistics Trust in the market for S$2.8 million on 26 November, the day the trust’s initial public offering (IPO) began trading on SGX, according to a filing to the exchange on Wednesday.
SPH said Wednesday it has completed its media business restructuring, with the transfer of the Media HoldCo to non-profit company SPH Media Trust for S$1. SPH will also transfer certain assets to assist with the operation and maintenance of the restructured media business, the company said in a filing to SGX.
OCBC, Mapletree Commercial, QT Vascular and others
Singapore substantial shareholder changes announced on Wednesday, 1 December 2021: OCBC, Mapletree Commercial Trust and BlackRock, QT Vascular, JB Foods and Singapore Paincare Holdings.
IFS Capital’s subsidiary IFS Asset Management has launched its first private credit fund through a private offering of shares of IFSAM VCC, the Singapore-listed company said in a filing to SGX.
Trendlines Group said Wednesday Synthes GMBH, the orthopaedics company of Johnson & Johnson, had completed the acquisition of one of its portfolio companies, OrthoSpin, for a total of US$79.5 million in cash.
The total payable to Trendlines is US$15.8 million, the company said in a filing to SGX.
OrthoSpin has ceased to be a portfolio company of Trendlines, the filing said.
Hatten Land issued a summary of its strategic review, including preparing for the resumption of commercial activity as Malaysia relaxes travel and movement restrictions, and repurposing its malls.
“These efforts aim to not only invigorate retail activities and enhance retail experiences in our malls by creating an omni-channel or ‘phygital’ retail platform with e-commerce and our real estate assets, but also open up new opportunities such as digital assets and digital economy activities. In addition, the group aims to advance our sustainability efforts via new renewable energy initiatives,” Hatten Land said in a filing to SGX Wednesday.
Addvalue Technologies said Wednesday it has extended the trading halt on its shares as it expects to revise its ongoing fund-raising exercise.
“As the revision involves more potential investors, more time is needed by the Company to complete the necessary documents for the preparation of the relevant announcement for release to the shareholders in enabling them to make informed decision,” Addvalue said in a filing to SGX.
Jasper Investments said Wednesday it has entered a non-binding memorandum of understanding (MOU) with Port Sekupang Batam, Pt. Port Sekupang Batam and PT. Daily Express, or the PSB entities, to develop and operate a port in Sekupang, Batam, Indonesia.