Singapore companies in focus on Tuesday, 28 December 2021:
- Ascott Residence Trust to acquire 4 US student accommodation properties for US$213M
- Keppel DC REIT to acquire Greater London data center for around S$106M
- Hatten Land enters tie-up with Huawei for cloud computing, data centers and renewable energy
Others: Keppel Corp., Shanaya, Digilife Technologies, Singapura Finance, China Mining International, Eagle Hospitality Trust, Union Gas Holdings, Camsing Healthcare and Mencast Holdings.
Ascott Residence Trust
Ascott Residence Trust entered deals to acquire four student accommodation assets in the U.S. for US$213 million, or around S$291.2 million, doubling its portfolio size, the REIT said in a filing to SGX Monday.
Keppel DC REIT
Keppel DC REIT has entered a deal to acquire a data center located in the Greater London area in the U.K. for 57 million British pounds or around S$105.5 million, from a Fiera Real Estate/SEDCO Capital joint venture, the Singapore-listed REIT said in a filing to SGX Monday.
Keppel Corp.’s Keppel Land China has completed its divestment of its entire 40 percent stake in Nanjing Jinsheng Real Estate Development to Yangzhou Jinhang Real Estate Development and Shanghai Luxin Real Estate Development, which are subsidiaries of Gemdale Corp., the Singapore-listed company said in a filing to SGX Monday.
Hatten Land and Huawei
Hatten Land‘s subsidiary Hatten Edge has entered a collaboration deal with Chinese telecom-technology giant Huawei to develop opportunities in cloud computing, enterprise intelligence, renewable energy, data centers and fintech infrastructure in Melaka, Malaysia, and the region, the Catalist-listed company said in a filing to SGX Monday.
Shanaya‘s wholly owned subsidiary Shanaya Environmental Services, or SES, entered a non-binding memorandum of understanding (MOU) to form a joint venture with P. Restorer to set up a business for chemical recycling of plastic wate for industrial use, according to a filing to SGX Monday.
Restorer will hold 51 percent of the joint venture, and SES will hold the remainder, the filing said.
Digilife Technologies said Monday it is holding talks with the majority shareholder of a target company on a potential acquisition which may constitute a major transaction.
Singapura Finance said Monday that Phua Bah Lee, age 89, who was an independent non-executive director of the company passed away on 26 December.
China Mining International
China Mining International’s wholly owned subsidiary Henan Sunshine Elegant Jade Real Estate has entered a memorandum of understanding (MOU) with Le Mans Development, an associated company of CITIC Construction Investment Development, to manage Le Mans’ property projects on a non-exclusive basis for a management fee, according to a filing to SGX Monday.
The MOU marks the company’s first move into the asset-light business of property project management, China Mining International said.
Eagle Hospitality Trust
Eagle Hospitality Trust‘s trustee said Monday unitholders would only receive a distribution from the liquidation if holders of claims against the REIT were paid in full, adding at this time, it wasn’t expected unitholders would receive any distributions.
The expected effective date of the Chapter 11 plan is on or before 31 December, and the liquidation trustee will be authorised to dissolve the Chapter 11 entities, the trustee said in a filing to SGX.
Union Gas Holdings
Union Gas Holdings’ shareholders voted in favor of the acquisition of Sembas (Asia) Trading, Semgas Supply and Summit Gas Systems from Union Energy for S$75 million, with the deal expected to be completed by end-December, the company said in a filing to SGX Monday.
“The proposed acquisition will pave the way for the strategic upstream expansion of Union Gas’ liquefied petroleum gas (LPG) business segment into the bottling and storage business. This will lead to the integration of its operations from procurement of LPG to bottling, storage and retailing, which will enhance and strengthen its LPG offerings,” Union Gas said in the statement.
Camsing Healthcare, which sells health foods and supplements in Singapore, mainly through its Nature’s Farm retail outlets, said Monday it has entered a deal with an investor wholly owned by Lin Qiren to raise up to S$11.34 million via loans, issuance of 102.17 million new shares at S$0.42 each and 167.83 million options with an exercise price of S$0.042 each.
Trading in Camsing Healthcare’s shares is currently suspended.
Mencast Holdings said Monday it has entered a deal to sell its entire stake in China-based S&W Process Equipment (Changshu), or SWP, to a Chinese national unrelated to the company for 1 yuan.
SWP has been inactive since 2018 since the sharp downturn in the oil and gas industry, Mencast said in a filing to SGX.
“The proposed disposal will allow the group to streamline its business structure, reduce its fixed operating costs and minimize future losses to the group. The proposed disposal will also enable the company to free up its resources and capital for allocation to its other profitable operations and towards satisfying its debts,” Mencast said in the statement.