Singapore companies in focus on Tuesday, 7 December 2021:
- Keppel Land China to divest entire 40 percent stake in Nanjing Jinsheng for around S$362M
- Stake changes: Wee Investments adds to UOL stake; Mewah, AREIT, United Hampshire, Aoxin Q&M
- IFS Capital enters JV with Tat Hong to provide tower crane financing in China
Others: Yanlord Land, Darco Water Technologies, Maxi-Cash Financial Services, China Everbright Water, Viking Offshore and Marine, Aspen Group, Boldtek Holdings, Aoxin Q&M Dental Group, TOTM Technologies and Capallianz Holdings.
Keppel Land China, via its subsidiary Eternal Commercial, is divesting its entire 40 percent stake in Najing Jinsheng Real Estate Development to two subsidiaries of Gemdale Corp. for around 1.75 billion yuan, or around S$362 million, Keppel Corp. said in a filing to SGX Monday.
UOL Group, Wee Investments, Mewah, Ascendas REIT and others
Singapore substantial shareholder changes announced on Monday, 6 December 2021: UOL Group and Wee Investments, Mewah International, Ascendas REIT, United Hampshire US REIT and Aoxin Q & M Dental Group.
Yanlord Land said Monday its November total contracted pre-sales from residential and commercial units and car parks, including joint ventures and associates, amounted to around 9.308 billion yuan from contracted gross floor area of 229,536 square meters, up 87.5 percent and 43.8 percent, respectively, from November 2020.
For the January-to-November period, Yanlord, along with joint ventures and associates, posted total contracted presales across residential, commerical and car-park units of 50.37 billion yuan on contracted gross floor area of 1.55 million square meters, down 25.3 percent and 17.3 percent, respectively, compared with the year-ago period, the Chinese property developer said.
Darco Water Technologies
Darco Water Technologies said Monday it has issued a writ of summons and statement of claim, filed with the High Court of Singapore, against Emsus and Dr. Do Yun Yu, to seek payment of the US$813,000 still outstanding after the company exercised its reversal option on the acquisition of PT Panghegar Energy Indonesia.
The company reiterated that the maximum impairment amount it may be required to make in 2021’s financial statements would be around US$652,958, which would amount to around 49 percent of 2020’s profit before tax.
IFS Capital and Tat Hong Equipment
IFS Capital has entered a non-binding memorandum of understanding (MOU) with Hong Kong-listed Tat Hong Equipment Service (THES) to provide leasing services and tower crane financing in China, the Singapore-listed company said in a filing to SGX Monday.
Maxi-Cash Financial Services
Maxi-Cash Financial Services has proposed a placement of up to 32 million new shares at S$0.162 each to raise up to S$5.18 million via an agreement with placement agent SAC Capital, the pawnshop operator said in a filing to SGX Monday.
China Everbright Water
China Everbright Water said Monday it has secured the Jiangsu Changzhou Zhenglu Industrial Waste Water Treatment Project Phase I, which will require an investment of 143 million yuan.
The project will be on a rehabilitate-operate-transfer (ROT) model with a concession period of 30 years, China Everbright Water said, adding the project will mainly provide industrial waste-water treatment services to industrial enterprises in the Tianning High-tech Industrial Development Zone in Changzhou City.
Viking Offshore and Marine
The investor group which recently acquired around 87 percent of Viking Offshore and Marine has filed Monday its offer document for the mandatory unconditional cash offer for the remainder of the company at S$0.01 a share.
Shares of Viking Offshore ended Monday at S$0.125, up 13.64 percent.
Aspen Group said Monday its indirect subsidiary Aspen Vision City has entered a deal to sell vacant freehold land in Bandar Cassia in Penang, Malaysia, to Pixel Valley for 27.57 million ringgit, or around S$8.93 million.
“[The] proposed disposal provides an attractive avenue to raise funds at this prevailing time that enables the group to realise the value of the land and thereby generate cash inflow expeditiously to cater to the financial needs of the group,” Aspen Group said in a filing to SGX.
Pixel Valley is a wholly owned subsidiary of Kerjaya Prospek Property (KPPROP), which is mainly involved in property development and hotel operations, the filing said.
Boldtek Holdings said Monday has started the sales preview of its 40 percent-owned freehold residential project Zyanya in Singapore’s district 14, near the Aljunied MRT station. Indicative pricing starts at S$1,590 a square foot, Boldtek said.
Aoxin Q&M Dental Group
Aoxin Q&M Dental Group said Monday that its dental hospital in Liaoning Province in China has resumed operations after being closed from 19 November to 3 December to follow the government’s Covid-19 precautions.
TOTM Technologies said Monday the company is in talks with a leading artificial intelligence (AI) and Big Data technology company in the Middle East over a potential collaborative transaction. The discussions are ongoing and there is no definitive binding agreement and no assurance any transaction will result, the company said in a filing to SGX.
Capallianz Holdings said Monday it has proposed a place of 925.93 million new shares at S$0.0027 each to Australia Hongshan Capital to raise around S$2.5 million. Australia Hongshan Capital, which is in the business of renting or leasing houses, residential buildings, property or real estate, is 81 percent owned by Huang Shi Hai, a private investor, who had previously invested in the company and expressed an interest in re-investing, Capallianz said.
The placement will represent around 10.9 percent of the company’s enlarged share capital, Capallianz said in a filing to SGX. The placement price is a premium of 28.57 percent to the stock’s volume weighted average price (VWAP) on 3 December, the filing said.
“The proposed placement will improve the group’s cash flows to meet anticipated general working capital requirements and provide capital to the group to fund acquisition of potential assets as and when opportunities arise,” Capallianz said.