Singapore companies in focus on Monday, 27 December 2021:
- Vertex Venture’s SPAC gets eligibility-to-list letter from SGX
- Yangzijiang founder transfers 10 percent stake to employee trust
- Harvest Fund Management’s funds buy more Dasin Retail Trust units
Others: CapitaLand Investment, UOL Group, Wee Investments, Metech International, Intraco, AEM Holdings, KTL Global, Metal Component Engineering, QT Vascular, Marco Polo Marine and AsiaPhos.
Yangzijiang Shipbuilding (Holdings)
Wang Dong, a founder of Yangzijiang Shipbuilding (Holdings), has transferred a 10 percent stake in the company to a new employee benefit trust to reward employees, the Chinese shipbuilder said in a filing to SGX Friday.
Vertex Venture Holdings, a subsidiary of Singapore state-owned investment company Temasek Holdings, said Friday it has received an eligibility-to-list letter from Singapore Exchange Securities Trading (SGX-ST) for its proposed special purpose acquisition company (SPAC).
Dasin Retail Trust
The Harvest Private Wealth Income Fund 4 SP acquired 1.43 million units of Dasin Retail Trust for S$557,700 in an off-market transaction, becoming a substantial unitholder with a 5.02 percent stake, up from 4.87 percent previously, according to a filing to SGX Friday.
CapitaLand Investment said Friday it has named two new independent non-executive directors: David Su Tuong Sing and Helen Wong Siu Ming, effective 1 January 2022.
UOL Group and Wee Investments
Metech International‘s joint venture Asian Eco Technology (AET) has entered a collaboration agreement with Ningbo Meishan, which has Zongheng Capital as a partner, to provide the lab-grown diamond player US$100 million in funding via debt and/or equity financing, according to a filing to SGX Friday.
Intraco Ltd. has entered into subscription agreements to issue a total of 10 million new shares to eight investors, including Harvest Private Wealth Thematic Fund SPC, at S$0.45 each to raise S$4.5 million, the company said in a filing to SGX Friday.
AEM Holdings, which is backed by Singapore state-owned investment company Temasek Holdings, will begin dual-currency trading of its shares — in both Singapore dollars and U.S. dollars — on 4 January 2022, the company said in a filing to SGX Friday.
KTL Global has entered separate deals with Shen Zhen EST Supply Chain Management and with Scarlett Supermarket, the Southeast Asian produce distributor said in filings to SGX late Friday.
Metal Component Engineering
Metal Component Engineering plans to change its name to Meta Health to reflect a business shift to healthcare and e-commerce, the company said in a filing to SGX Friday.
QT Vascular on Friday distributed the circular to shareholders for the proposed acquisition of 60 percent of Asia Dental and the proposed issuances of new shares to subscribers to raise funds, with the extraordinary general meeting (EGM) set for 8 January.
Marco Polo Marine
Marco Polo Marine‘s wholly owned subsidiary Marco Polo Offshore has set up a joint venture company, Oceanic Crown Offshore Marine Services, in Taiwan with Taiwanese company Shengfan, the Singapore-listed company said.
The joint venture, which will be 49 percent owned by Marco Polo Offshore, while Shengfan holds the remainder, is aimed at expanding Marco Polo’s offshore and marine business into Taiwan for supporting offshore wind farm projects via vessel chartering, the company said.
Oceanic Crown Offshore Marine Services will have an initial paid-up capital of NT$42 million, or around S$2.07 million, the filing said.
AsiaPhos said Friday Bohai Bank extended a new banking facility of 20.50 million yuan, with a 7 percent interest rate, to subsidiary Sichuan Mianzhu Norwest Phosphate Chemical for one year; the funds will be used to repay an existing banking facility of 21.05 million from Bohai Bank which expired on 17 December, the filing said. Read AsiaPhos’ filing to SGX.
In a separate filing, AsiaPhos said it has received a waiver from SGX-ST to sell its Phase 2 Factory Assets in Sichuan Province, China, to Sichuan Mianzhu Huaxinfeng Food without an extraordinary general meeting (EGM) of shareholders to seek approval.