Singapore companies in focus on Friday, 10 December 2021:
- Keppel shareholders approve SPH acquisition by huge margin, as ball shifts to SPH’s court
- Sembcorp Industries and BCG Energy enter tie-up to develop Vietnam renewable projects
- UOB likely preferred bidder for Citi’s Indonesian assets: Bloomberg
- Mapletree Logistics Trust to issue yen-denominated notes
Others: CapitaLand Integrated Commercial Trust (CICT), Yangzijiang Shipbuiding (Holdings), Challenger Technologies, Raffles Education, Ausgroup, Asian Pay Television Trust (APTT), Baker Technology, IREIT Global, Sunrise Shares Holdings, ValueMax Group, Civmec, Manhattan Resources, Hiap Seng Engineering, Vibrant Group and Heeton Holdings.
Keppel, SPH and Cuscaden Peak
Keppel Corp.’s shareholders have overwhelmingly approved the company’s bid to take over SPH by a margin of 98.22 percent in favour, compared with 1.78 percent against the proposal at an extraordinary general meeting (EGM), according to a filing to SGX Thursday.
UOB and Citi
Citigroup has chosen its preferred bidders for as it sells off its consumer assets in select markets in Asia, putting Bank of Ayudhya in the lead for a US$2 billion deal for the Thai retail assets and UOB at the top of the list for the Indonesian assets, deal valued at “several hundred million dollars,” according to a Bloomberg report which cited people familiar with the matter.
In addition, Standard Chartered is the leading bidder for Citi’s retail consumer assets in Malaysia, the report said, citing the people familiar with the matter.
Sembcorp Industries and BCG Energy
Sembcorp Industries‘ wholly owned subsidiary Sembcorp Utilities and Bamboo Capital Group (BCG)’s wholly owned subsidiary BCG Energy (BCGE) have entered a tie-up to collaborate on developing renewable projects in Vietnam, the two companies said in a filing to SGX Thursday.
Mapletree Logistics Trust
Mapletree Logistics Trust said it has executed two pricing supplements for the issue of 9 billion yen 0.90 percent notes due 2031 (series 006) and 3 billion yen 0.90 notes due 2031 (series 007), to be issued under the trust’s S$3 billion euro medium-term securities program. The notes are unsecured and unrated, the trust said.
The proceeds will be used for general corporate purposes, including refinancing the existing borrowings, Mapletree Logistics Trust said in a filing to SGX.
Mizuho Securities (Singapore) is the sole manager of the series 006 notes, and DBS Bank is the sole manager of the 007 notes, the filing said.
CapitaLand Integrated Commercial Trust
CapitaLand Integrated Commercial Trust (CICT) said Thursday the disposal of One George Street has been completed.
Yangzijiang, Challenger, Raffles Education, Ausgroup and others
Singapore substantial shareholder changes announced on Thursday, 9 December 2021: Yangzijiang Shipbuilding (Holdings), Challenger Technologies, Raffles Education, Ausgroup, Asian Pay Television Trust (APTT), Baker Technology, IREIT Global and Sunrise Shares Holdings.
ValueMax Group said Thursday it acquired all of Hersing Credit, a Singapore-based licenced moneylending company, for S$280,000 in cash, which will be paid from internal resources.
“The acquisition is in line with the group’s strategy to expand its moneylending business,” the pawnshop operator said in a filing to SGX.
Civmec said Thursday its order book has increased to A$1.15 billion after being awarded a major construction contract in the resources sector and several infrastructure and maintenance projects.
The major construction contract is for the Western Australia-based Mount Holland lithium project, which will produce lithium concentrate to be transported to a refinery Civmec will be building, the company said in a filing to SGX. The Mount Holland project is being undertaken by subsidiaries of ASX-listed Wesfarmers and U.S.-listed Sociedad Química y Minera de Chile S.A. through their 50:50 joint venture manager Covalent Lithium.
The infrastructure project is to build a bridge as part of Transport for NSW A$2.6 billion Sydney Gateway road project, the filing said.
Manhattan Resources‘ indirect subsidiary PT Kariangau Power has entered a deal to sell two vacant land parcels located in East Kalimantan in Indonesia to PT Dermaga Perkasapratama for 271.27 billion rupiah, or around S$25.73 million, the company said in a filing to SGX Thursday.
Hiap Seng Engineering and Vibrant Group
Hiap Seng Engineering‘s judicial managers have entered a non-binding term sheet with an investor group led by an associate company of Vibrant Group for an up to S$16 million cash injection, according to a filing to SGX Thursday.
Toh Khai Cheng, age 93, has retired as chairman and non-executive director of Heeton Holdings, effective end-December, to pursue personal interests, according to a filing to SGX Thursday.