SG stocks Friday: Cuscaden Peak, SPH, CityDev, LMIRT, Sembcorp, FLCT, CapitaLand Investment, Mapletree Logistics

City Developments' Central Mall with conservation shophouses. Credit: City Developments City Developments' Central Mall with conservation shophouses. Credit: City Developments

Singapore companies in focus on Friday, 3 December 2021:

  • Cuscaden Peak’s SPH bid gets Australia regulators’ nod, marking final hurdle before shareholder votes
  • City Developments to redevelop Central Mall area into large-scale mixed-use project
  • Stake changes: LMIR Trust stake acquired from Lippo Karawaci subsidiary by Tokyo Century
  • Sembcorp to acquire 35 percent interest in China’s SDIC New Energy for CNY1.5B

Others: Far East Hospitality Trust, Frasers Logistics & Commercial Trust, CapitaLand Investment, Temasek Holdings, Straits Times Index, ARA LOGOS Logistics Trust, Venture, UOL, AEM, Sabana Industrial REIT, SIA Engineering, Mapletree Logistics Trust, Alset International, SingHaiyi Group, Spackman Entertainment Group and Eurosports Global.

City Developments and Far East Hospitality Trust

City Developments plans to redevelop its Central Mall properties and the surrounding area into a large-scale mixed-use project after its proposed acquisition of Central Square for S$315 million, the property developer said in a press release Thursday.

Read more: City Developments to redevelop Central Mall area into large-scale mixed-use project

Cuscaden Peak and SPH

Cuscaden Peak’s SPH bid has received approval from the Foreign Investment Review Board in Australia (FIRB), marking the final regulatory hurdle for the eleventh-hour counter-offer to Keppel Corp.’s tender for SPH.

Read more: Cuscaden Peak’s SPH bid gets Australia regulators’ nod, marking final hurdle before shareholder votes

Sembcorp Industries

Sembcorp Industries‘ wholly owned subsidiary Sembcorp Energy (Shanghai) has entered a deal to acquire 35 percent of SDIC New Energy, which operates 30 wind and solar PV assets, for 1.5 billion yuan, or around S$320 million, the Singapore-listed company said Thursday.

Read more: Sembcorp to acquire 35 percent interest in China’s SDIC New Energy for CNY1.5B

Frasers Logistics & Commercial Trust

Frasers Logistics & Commercial Trust has entered a deal to divest a property in Port Melbourne, in Australia, for A$42.5 million, or around S$41.7 million, a significant premium to the A$21 million book value, the trust said in a filing to SGX Thursday.

Read more: Frasers Logistics & Commercial Trust to divest Australia property for A$42.5M

Lippo Malls Indonesia Retail Trust

Bridgewater International Ltd. (BIL), an indirect wholly owned subsidiary of PT Lippo Karawaci Tbk, has sold 874.91 million units of Lippo Malls Indonesia Retail Trust, or an 11.4 percent stake, to Tokyo Century Corp. for S$67.67 million, the trust said in a filing to SGX Thursday.

Read more: Stake changes: LMIR Trust stake acquired from Lippo Karawaci subsidiary by Tokyo Century

CapitaLand Investment and Temasek

Bartley Investments, a wholly owned indirect subsidiary of Singapore state-owned investment company Temasek Holdings, has seen its deemed interest in CapitaLand Investment increase to 52.04 percent from 51.94 percent previously after the real estate investment manager bought back 9.73 million shares on 30 November, according to a filing to SGX Thursday.

Read more: Stake changes: Temasek subsidiary’s CapitaLand Investment stake rises after buybacks

Straits Times Index

The FTSE Russell announced Thursday there would be no changes to the Straits Times Index following the quarterly review.

The STI reserve list, which includes the five highest ranking non-constituents of the index by market capitalisation, will be Frasers Centrepoint Trust, Keppel REIT, NetLink NBN Trust, Olam International and Suntec REIT, the statement said. Stocks on the reserve list will replace any constituents which become ineligible before the next review, the statement said.

FTSE Russell has tied up with SPH and Singapore Exchange (SGX) to calculate the index.

ALOG, Venture, BlackRock, UOL, Wee Investments, AEM, Sabana REIT and others

Singapore substantial shareholder changes announced on Thursday, 2 December 2021: SPH REIT, ARA LOGOS Logistics Trust and BlackRock, Venture Corp. and BlackRock, UOL Group and Wee Investments, AEM Holdings and Temasek, Sabana Industrial REIT and Quarz Capital ASIA, Ascendas REIT, Geo Energy Resources, Rex International and Asian Pay Television Trust (APTT).

Read more: Stake changes: UOL, Wee Investments, Venture, ALOG, BlackRock, SPH REIT, AEM, Sabana REIT, Quarz

SIA Engineering

SIA Engineering has signed a long-term distribution agreement with Iacobucci HF Aerospace (IHFA), an Italy-based cabin interior original equipment manufacturer (OEM) for major airframe manufacturers such as Airbus and Boeing, the company said in a filing to SGX Thursday.

Under the deal, SIA Engineering will have the Asia-Pacific regional rights to distribute and sell spare parts for the aftermarket for IHFA’s galley inset products, which are mainly used in the premium cabins of current and next-generation aircraft, such as Airbus A350 and A320neo, Boeing 787, 777X and 737MAX, the filing said.

Read SIA Engineering’s filing to SGX.

Mapletree Logistics Trust

Mapletree Logistics Trust said Thursday that JTC Corp. has given consent for the trust to exercise its option to purchase the property at 9 Changi South Street 2 for S$24.5 million. The acquisition is expected to be completed this month, the trust said in a filing to SGX.

Read more about the acquisition.

Alset International

Alset International has completed “seeding” its indirect subsidiary, American Home REIT (AHR), with its first 30 occupied rental homes from Alset EHome, the Singapore-listed company said in a filing to SGX Thursday.

Read more: Alset transfers 30 occupied rental homes to American Home REIT

SingHaiyi

Haiyi Treasure owns, controls or has agreed to acquire 86.68 percent of SingHaiyi Group‘s shares under its offer to take the property developer and investor private at S$0.117 a share, according to a filing to SGX Thursday.

Read more: Celine and Gordon Tang bid to take SingHaiyi private

Spackman Entertainment Group

Spackman Entertainment Group said Thursday it has completed the disposal of Zip Cinema.

Read more: Spackman: Zip Korea disposal in part on theatrical sales concern

Eurosports Global

Eurosports Global said Thursday Executive Chairman and CEO Goh Kim San was requested on Thursday to attend the office of the Commercial Affairs Department (CAD) of the Singapore Police Force to be arrested; no charges were made and he was released the same day on bail, the company said in a filing to SGX.

The board has decided that Goh should resume his roles at the company as he has not been charged with any offense and he has been cooperating with the CAD, the filing said.

“Mr. Goh is the key person handling the account of Lamborghini and he is required to continue to work with Lamborghini on the car dealership in Singapore. Over the course of many years, Mr. Goh has built up a personal relationship of trust with Lamborghini and this relationship is key to the dealership in Singapore,” Eurosports said in the filing. “Mr. Goh’s leadership is crucial to lead the company out of the financial situation which has been impacted by the effects of Covid-19.”

 

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