SG stocks Friday: CICT, Mapletree Industrial, Spackman, Frasers Property, Keppel, China Everbright Water

CapitaLand Integrated Commercial Trust (CICT) entered a deal in December 2021 to acquire 50 percent of Greenwood Plaza in Sydney, Australia. Credit: CapitaLandCapitaLand Integrated Commercial Trust (CICT) entered a deal in December 2021 to acquire 50 percent of Greenwood Plaza in Sydney, Australia. Credit: CapitaLand

Singapore companies in focus on Friday, 24 December 2021:

  • CapitaLand Integrated Commercial Trust to acquire 50 percent of Sydney’s Greenwood Plaza
  • Mapletree Industrial Trust to divest 19 Changi South property for S$13M
  • Spackman to sell Frame Pictures to High Vision for KRW450M

Others: Frasers Property, Keppel Corp.’s Keppel Land, China Everbright Water, Kitchen Culture Holdings, Shanaya and MDR.

CapitaLand Integrated Commercial Trust (CICT)

CapitaLand Integrated Commercial Trust (CICT) has entered a deal to acquire 50 percent of Greenwood Plaza, a mixed-use development in North Sydney central business district (CBD) in Australia, for A$422 million, or around S$409.3 million, the trust said in a filing to SGX Thursday.

Read more: CapitaLand Integrated Commercial Trust to acquire 50 percent of Sydney’s Greenwood Plaza

Mapletree Industrial Trust

Mapletree Industrial Trust entered a deal to sell the property at 19 Changi South Street 1 to unrelated third party Esco Micro for S$13 million in cash, the trust’s manager said in a filing to SGX Thursday.

Read more: Mapletree Industrial Trust to divest 19 Changi South property for S$13M

Frasers Property

Frasers Property said Thursday its proposed investment in a joint venture via its indirect wholly owned subsidiary, Suzhou Sing He Xiang Management Consultancy, or SHX, has not materialised.

“SHX has received a full refund and repayment of all amounts paid under the framework agreement and loan agreement,” Frasers Property said in a filing to SGX.

Keppel Corp.’s Keppel Land

Keppel Land’s wholly owned retail mall i12 Katong has begun reopening in phases following major asset enhancement works which began in early 2020, Keppel Corp. said in a filing to SGX Thursday. The grand opening is scheduled for March 2022, Keppel said.

Read Keppel’s filing to SGX.

China Everbright Water

China Everbright Water said Thursday it would seek an initial tranche of perpetual medium-term notes of up to 700 million yuan from the proposed 3 billion yuan perpetual medium-term note program it has applied for approval for from the National Association of Financial Market Institutional Investors of the People’s Republic of China.

The 3 billion yuan will be issued in multiple tranches, with institutional investors in China’s national inter-bank bond market the targeted subscribers, the company said in a filing to SGX.

China Everbright Water

China Everbright Water said Thursday it would adjust the interest rate on its third-tranche corporate bonds to 3.08 percent for the 21 January 2022 to 20 January 2024 period from 3.89 percent previously, as it is entitled to do under the terms of the offering, which was initially issued in 2019.

Spackman Entertainment

Spackman Entertainment Group has entered a deal to sell camera-equipment leasing player Frame Pictures to High Vision for 450 million South Korean won, or around US$382,164, the South Korean drama player said in a filing to SGX Thursday.

Read more: Spackman to sell Frame Pictures to High Vision for KRW450M

Kitchen Culture Holdings

Kitchen Culture Holdings said Thursday it has received a letter from Kim Hup Lee’s solicitors over a winding-up application it filed with the High Court of Singapore on 13 December against KHL Marketing Asia-Pacific, a subsidiary of Kitchen Culture.

The outstanding alleged rental arrears, which Kim Hup Lee is claiming for the 2016 to 2018 period, amounts to S$1.77 million, Kitchen Culture said in a filing to SGX.

Kitchen Culture said it was seeking advice from its solicitors, including on resisting the winding-up application; the hearing is set for 14 January, the filing said.

Read more: Kitchen Culture clarifies no lease agreement found in dispute over alleged rental arrears

Shanaya

Shanaya‘s wholly owned subsidiary Shanaya Environmental Services (SES) entered a business collaboration agreement with TRIA for potential organic recycling of food waste and packaging waste, Shanaya said in a filing to SGX Thursday.

TRIA is a sustainable foodware company offering organically recyclable packaging with a collect-back program which puts the waste through a patented digestion technology, turning it into biogas and farm-ready fertiliser, the filing said.

Under the deal, the two companies will set up a six-month trial for organic recycling of packaging and food waste for a fast-food chain in Singapore, with TRIA to provide the digestion technologies, including installing a digester at SES’s premises, while SES will provide collection service and operate the digester at an agreed fee, the filing said.

Read Shanaya’s filing to SGX.

MDR

MDR Ltd. has terminated the employment of Richard Siua Cheng Foo, age 50, as group chief operating officer (COO) effective Thursday, citing the investigations by the company and the Commercial Affairs Department (CAD) of the Singapore Police Force over alleged suspected misconduct, the company said in a filing to SGX Thursday.

Read more: Executive moves: MDR terminates COO, citing CAD investigation

 

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