SG stocks Friday: Keppel, ESR-REIT, ST Engineering, CapitaLand, ART, Mapletree Commercial, Spackman, AEM

An artist's impression of CapitaLand's planned business park in Suzhou New District. CapitaLand entered a deal with Mitsubishi Estate to develop the business park in December 2021. Credit: CapitaLandAn artist's impression of CapitaLand's planned business park in Suzhou New District. CapitaLand entered a deal with Mitsubishi Estate to develop the business park in December 2021. Credit: CapitaLand

Singapore companies in focus on Friday, 31 December 2021:

  • Keppel Chairman Teoh: May consider Prime US REIT and Keppel Pacific Oak REIT combination
  • ST Engineering receives US Navy contract for polar security cutter
  • Stake changes: Chinese tycoon Tong Jinquan cuts ESR-REIT stake

Others: Mapletree Commercial Trust, Mapletree North Asia Commercial Trust, CapitaLand Development, CapitaLand Investment, Keppel Corp., Ascott Residence Trust, AEM Holdings, Spackman Entertainment Group, ValueMax Group, Don Agro International, HG Metal Manufacturing and Asia Vets Holdings.

Mapletree Commercial Trust and Mapletree North Asia Commercial Trust

Units of Mapletree Commercial Trust and Mapletree North Asia Commercial Trust (MNACT) have remained halted for three trading days, Tuesday, Wednesday and Thursday, pending an announcement.

Read more: Mapletree Commercial Trust and MNACT units both halted

Keppel Corp., Prime US REIT and Keppel Pacific Oak REIT (KORE)

Keppel Corp. could consider supporting a combination between Keppel Pacific Oak REIT and Prime US REIT, the company’s Chairman Danny Teoh said in response to a shareholder question at Keppel’s extraordinary general meeting (EGM) Thursday.

Read more: Keppel Chairman Teoh: May consider Prime US REIT and Keppel Pacific Oak REIT combination

ST Engineering

ST Engineering said Thursday its shipbuilding business in Pascagoula, Mississippi, in the U.S., has received a second Polar Security Cutter (PSC) contract from the U.S. Department of the Navy.

Read more: ST Engineering receives US Navy contract for polar security cutter

CapitaLand Development, Mitsubishi Estate and CapitaLand Investment

CapitaLand Development (CLD) has entered a 50:50 joint venture with Japanese real estate group Mitsubishi Estate to invest 1.5 billion yuan, or around S$318 million, to develop a business park in Suzhou New District in China, the developers said in press release Thursday.

Read more: CapitaLand Development-Mitsubishi Estate JV to develop Suzhou business park in S$318M deal

Keppel Corp.

Keppel Corp.’s Keppel Land, via its indirect wholly owned subsidiary Changzhou Fushi Real Estate Development, has completed the sale of a 51 percent stake in Tianjin Fushi Real Estate Development to Tianjin Pulida Real Estate Construction and Development, which is a subsidiary of Hong Kong-listed Sino-Ocean Group according to a filing to SGX Thursday.

In April, Keppel had said Changzhou Fushi Real Estate Development would be paid around 348 million yuan for the 51 percent stake in Tianjin Fushi, which owns eight plots of land; Changzhou Fushi Real Estate Development retains 49 percent of Tianjin Fushi, which is now an associated company of Keppel.

Ascott Residence Trust

Ascott Residence Trust said Thursday it has completed the acquisitions of three out of four student accommodation assets it entered deals for in the U.S. The purchase of the Philadelphia property, the Wilmington property and the Raleigh property, which were interconditional, has been completed, the trust said in a filing to SGX Thursday.

The deal for the fourth property, located in Kent, is expected to be completed in February 2022, the trust said.

Ascott Residence Trust said it had used around S$25 million of the proceeds of its S$150 million private placement in September for the purchase of the Philadelphia property.

Read more: Ascott Residence Trust to acquire 4 US student accommodation properties for US$213M

AEM Holdings

AEM Holdings, which is backed by Singapore state-owned investment company Temasek Holdings, said Thursday its shares would begin dual-currency trading in Singapore dollars and U.S. dollars on 4 January 2022. The stock code for its U.S. dollar shares will be XWA, and the code for its Singapore-dollar shares will be AWX, AEM said in a filing to SGX.

Read more: Temasek-backed AEM to begin dual currency trading of its shares

ESR-REIT

Tong Jinquan, a Chinese mogul and the largest unitholder of ESR-REIT, has sold off part of his holding in the REIT.

Read more: Stake changes: Chinese tycoon Tong Jinquan cuts ESR-REIT stake

Keppel, ComfortDelGro, Hour Glass, Samurai 2K, HRnetGroup and others

Singapore companies announcing executive changes: Keppel Corp., ComfortDelGro, The Hour Glass, Samurai 2K Aerosol, HRnetGroup, Federal International (2000), ISDN Holdings and Singapore O&G.

Read more: Executive moves: Keppel, ComfortDelGro, Hour Glass, Samurai 2K, HRnetGroup, Federal International

Geo Energy and Asian Pay Television Trust

Singapore substantial shareholder changes: Geo Energy Resources and Asian Pay Television Trust (APTT).

Read more: Stake changes: Lenny Limanto cuts Geo Energy stake; Asian Pay Television Trust

Spackman Entertainment Group

Korean drama producer Spackman Entertainment Group said Thursday it has completed the disposal of Frame Pictures, and it has ceased to be a subsidiary of the company.

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

ValueMax Group

ValueMax Group said Thursday Yeah Hiang Nam, the company’s CEO, founder and managing director, would be appointed executive chairman, effective 1 January 2022.

Read more: Executive moves: ValueMax taps new CEO, chairman in board shuffle

Don Agro International

Don Agro International said Thursday it has launched a joint project with startup Octaviana, which produces a new organic fertilizer called Live Soil. Under the project, Don Agro planted a field of winter wheat using Live Soil, with harvest expected in summer 2022, the Russia-based agricultural company said in a filing to SGX.

Read Don Agro’s filing to SGX.

HG Metal Manufacturing

Teo Yi-Dar (Zhang Yida), age 50, has tendered his resignation as independent non-executive chairman of HG Metal Manufacturing, effective 15 January 2022, for personal reasons, the company said in a filing to SGX Thursday.

Read more: Executive moves: HG Metal Manufacturing Chairman Teo submits resignation

Asia Vets Holdings

Asia Vets Holdings said Thursday it entered a deal to acquire Aldigi Holdings from investment holding company RHT Aldigi Financial Holdings for S$45 million paid in the issuance of 335.44 million new shares in a reverse takeover.

“The proposed acquisition will enable the group to capture opportunities within the fast-growing financial and technology business,” Asia Vets said in a filing to SGX. “In addition to its established continuing sponsorship and licensed corporate finance business, and intellectual property advisory business, the management of the target group also has a proven track record in the development and use of distributed ledger technology platforms and digital asset solutions, which has been deployed by a Monetary Authority of Singapore licensed digital
asset exchange.”

Read Asia Vets Holdings’ filing to SGX.

 

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