SG stocks Monday: Mapletree Commercial, MNACT, Oiltek, Koh Brothers Eco, Fuxing China, Vallianz, TIH

Mapletree Commercial Trust's Mapletree Business City property in Singapore. Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust agreed in December 2021 to merge to form Mapletree Pan-Asia Commercial Trust. Credit: Mapletree Commercial TrustMapletree Commercial Trust's Mapletree Business City property in Singapore. Mapletree North Asia Commercial Trust (MNACT) and Mapletree Commercial Trust agreed in December 2021 to merge to form Mapletree Pan-Asia Commercial Trust. Credit: Mapletree Commercial Trust

Singapore companies in focus on Monday, 3 January 2022:

  • UPDATE: Mapletree Commercial and Mapletree North Asia to merge into pan-Asia REIT in S$4.22B deal
  • Mapletree Commercial Trust’s Lim: Needed to go big for first move outside Singapore
  • Koh Brothers Eco Engineering files to spin off Oiltek in Catalist listing
  • Fuxing China to seek secondary Nasdaq listing

Others: TIH Ltd., Argyle Street Management, Challenger Technologies, Vallianz Holdings, Hanwell Holdings, Informatics Education, Medi Lifestyle and Suntar Eco-City.

Mapletree Commercial Trust and Mapletree North Asia Commercial Trust

Mapletree Commercial Trust and Mapletree North Asia Commercial Trust are set to restart trade Monday after their units were halted for four days last week before the two REITs announced they would merge in a S$4.22 billion deal.

Read more: UPDATE: Mapletree Commercial and Mapletree North Asia to merge into pan-Asia REIT in S$4.22B deal

Read more: Mapletree Commercial Trust’s Lim: Needed to go big for first move outside Singapore

Koh Brothers Eco Engineering and Oiltek

Koh Brothers Eco Engineering has filed a prospectus seeking a listing on SGX’s Catalist board for its subsidiary Oiltek International, a process technology and renewable energy services provider in the vegetable oils industry.

Read more: Koh Brothers Eco Engineering files to spin off Oiltek in Catalist listing

Fuxing China

Fuxing China said Friday it intends to seek a secondary listing of its shares on the U.S.-based Nasdaq market, and it has appointed professionals to begin preparatory work.

Read more: Fuxing China to seek secondary Nasdaq listing

Olam, OFI, CapitaLand China Trust, Frencken and others

Singapore companies announcing executive changes: Olam International and Olam Food Ingredients (OFI), CapitaLand China Trust, Frencken Group, OUE, Shen Yao Holdings, Food Empire Holdings, China Aviation Oil (Singapore) and ABR Holdings.

Read more: Executive moves: Olam, OFI, CapitaLand China Trust, Frencken, OUE, Shen Yao, Food Empire, CAO (Singapore)

Singtel, Addvalue, Courage Investment and others

Singapore companies announcing executive changes: Singtel, Addvalue Technologies, Courage Investment Group, Engro Corp., Combine Will International and Informatics Education.

Read more: Executive moves: Singtel, Addvalue, Courage Investment, Engro, Combine Will, Informatics

Wilmar, Nanofilm, Metech, Chip Eng Seng and JEP International

Singapore substantial shareholder changes: Wilmar International, Nanofilm Technologies International, Metech International, Chip Eng Seng and JEP International.

Read more: Stake changes: Wilmar, Nanofilm, Metech, Chip Eng Seng, JEP

TIH Ltd. and Argyle Street Management

Singapore-listed private equity fund company TIH Ltd.’s wholly owned subsidiary Kilian Court has agreed to invest around US$6.5 million in ASM Connaught House Fund V (CHF V), according to a filing to SGX Friday.

Read more: TIH to invest US$6.5M in ASM Connaught House Fund V

Challenger Technologies

Digileap Capital acquired 75,000 shares of Challenger Technologies in the market for S$41,933 on 30 December, boosting its direct interest to 14.99 percent from 14.98 percent previously, according to a filing to SGX Sunday.

Read more: Stake changes: Dymon Asia Capital’s stake in Challenger rises

Vallianz Holdings

Vallianz Holdings said Friday its wholly owned subsidiary PTSB Holding entered a deal to sell its entire 49 percent stake in associated company PT Vallianz Offshore Maritim (PT VOM) to Rawabi Energy for US$2.85 million.

“PT VOM’s main business is in the owning and chartering of marine assets for the oil and gas industry within Indonesia. Since the oil plunge, the industry has observed a declining trend in budget approvals for offshore projects due to the depressed oil prices which had resulted in the lowered activities in the industry. In addition, the current economic situation and worsening Covid situation affected the oil
and gas industry further,” Vallianz said in a filing to SGX.

Read Vallianz Holdings’ filing to SGX.

Hanwell Holdings

Hanwell Holdings, a manufacturer and distributor of fast-moving consumer goods (FMCG) and essentials, said Friday it is acquiring 80 percent of C.K.H. Food Trading and 123 Mart from founder Chua Kheng Hwee for S$3.3 million, effective 1 January, the company said in a filing to SGX. Chua will retain the remaining 20 percent, the filing said.

C.K.H. is a food distributor supplying food products to around 1,500 food and beverage outlets in Singapore, and 123 Mart is a budget-oriented grocery minimart, the filing said.

Read Hanwell Holdings’ filing to SGX.

Informatics Education

Informatics Education cited Friday a material uncertainty casting significant doubt on the group’s ability to continue as a growing concern. But it added, the board believed it was appropriate to prepare the financial statements on a going concern basis.

Read more: Informatics Education: Material uncertainty on going concern after fiscal 1Q net profit tumbles

Medi Lifestyle

Medi Lifestyle said Friday it has issued 40.20 million new shares at S$0.0398 each to I Concept Global Growth Fund as payment for principal on a S$1.6 million convertible loan, while the interest will be repaid in cash.

The new shares will begin trading on SGX’s Catalist board on Monday.

Suntar Eco-City

Suntar Eco-City said Friday its indirect associate company Wuping Hailan Real Estate Development exercised an option to purchase a property in North Yihao Gongguan, Wuping County, longyan City, Fujian Province, China, for an aggregate 53.28 million yuan.

The property will be used to expand the property development business, the company said in a filing to SGX.

The acquisition will be funded by a combination of internal resources and bank borrowings, Suntar Eco-City said.

 

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