SG stocks Thursday: ALOG, ESR-REIT, Cromwell E-REIT, Mapletree Commercial, Singtel, Roxy-Pacific

ESR-REIT property near Singapore’s Tai Seng MRTESR-REIT property near Singapore’s Tai Seng MRT

Singapore companies in focus on Thursday, 6 January 2022:

  • ARA LOGOS Logistics Trust sets EGM for unitholders’ vote on ESR-REIT’s bid
  • Cromwell European REIT acquires three logistics assets across the UK and Netherlands
  • Moody’s places Mapletree Commercial under review for downgrade on proposed merger

Others: Singtel and Bharti Airtel, Grand Venture Technology, Roxy-Pacific Holdings, Viking Offshore and Marine, Pan-United and Surbana Jurong, Marco Polo Marine, Vividthree, Asia-Pacific Strategic Investments, Hatten Land, Ley Choon Group, Telechoice International and MS Holdings.

ARA LOGOS Logistics Trust and ESR-REIT

ARA LOGOS Logistics Trust said Wednesday its extraordinary general meeting (EGM) for its unitholders to vote on ESR-REIT‘s bid for the trust will be held on 27 January, with a response deadline of 25 January.

“ING Bank N.V., Singapore branch, as independent financial adviser, is of the opinion that on balance, the terms of the scheme are fair and reasonable from the financial point of view,” a press statement from the trust said.

“The ALOG directors and independent directors are of the opinion that the ALOG trust deed amendments would be beneficial to, and be in the interests of, ALOG. Accordingly, the ALOG directors recommend that ALOG unitholders vote in favour,” the statement said.

Read more: ESR-REIT: 52-week highs a key factor in setting price to acquire ARA LOGOS Logistics Trust

Mapletree Commercial Trust and Mapletree North Asia Commercial Trust

Moody’s Investors Service has placed Mapletree Commercial Trust’s Baa1 issuer rating on review for a downgrade after the trust’s merger bid for Mapletree North Asia Commercial Trust (MNACT), the ratings service said in a statement Wednesday.

Read more: Moody’s places Mapletree Commercial under review for downgrade on proposed merger

Cromwell European REIT

Cromwell European REIT acquired three logistics assets, with one located in the U.K. and the other two in the Netherlands for a total consideration of 57.8 million euros, or around S$88.4 million, the REIT said in a filing to SGX Wednesday.

Read more: Cromwell European REIT acquires three logistics assets across the UK and Netherlands

Singtel and Bharti Airtel

Bharti Airtel said Tuesday it would scrap its plans for restructuring the company’s digital assets under the listed entity, citing the Indian government’s telecom sector reform package which will simplify the license framework. Under the modified plans, the Indian telco will still merge wholly owned subsidiary Telesonic Networks and Nettle Infrastructure Investments, according to a stock exchange filing.

Singtel owned 31.7 percent of Bharti Airtel as of 31 March 2021, according to Singtel’s 2021 annual report.

Read Bharti Airtel’s statement.

Grand Venture Technology

Grand Venture Technology entered a deal to acquire a manufacturing facility in Malaysia, its third acquisition in the country in two years, for 13.5 million ringgit, or around S$4.4 million, the precision manufacturing services provider said in a filing to SGX Wednesday.

The site is located between the other two facilities, which were acquired in 2020 and 2021, and near its first factory in Malaysia, Grand Venture Technology said.

Read Grand Venture Technology’s filing to SGX.

Roxy-Pacific Holdings

TKL & Family has submitted on Wednesday a voluntary general offer to acquire all of Roxy-Pacific Holdings at S$0.485 a share; the offer follows an earlier pre-conditional voluntary general offer in September.

Shareholders of Roxy-Pacific must accept the offer by 3 February, the offeror said in a filing to SGX.

Read the offer document filed to SGX.

Mapletree Commercial Trust, United Hampshire US REIT and others

Singapore substantial shareholder changes: Mapletree Commercial Trust, United Hampshire US REIT, Metech International and Medi Lifestyle.

Read more: Stake changes: Mapletree Commercial, United Hampshire US REIT, Metech, Medi Lifestyle

Viking Offshore and Marine

Viking Offshore and Marine said Wednesday Andy Lim, age 64, has resigned as chairman and executive director, effective 6 January.

Read more: Executive moves: Viking Offshore Chairman Andy Lim resigns

Pan-United and Surbana Jurong

Pan-United Corp.’s subsidiary Pan-United Concrete has entered a tie-up with infrastructure consulting firm Surbana Jurong to study the feasibility of using electric and hydrogen fuel cells to power its truck fleet, the concrete and cement producer said in a filing to SGX Wednesday.

Read more: Pan-United, Surbana Jurong in tie-up to shift truck fleet to EVs

Marco Polo Marine

Marco Polo Marine‘s subsidiary PT Marcopolo Shipyard is set to being green ship recycling after receiving a permit from local Indonesian authorities in Batam to conduct ship recycling, and getting certification for green methods, the company said in a filing to SGX Wednesday.

Read more: Marco Polo Marine gets permit for green ship recycling


Entertainment player Vividthree will subscribe for S$4.08 million in convertible loan notes to be issued by GammaR in tranches, with the option to convert the notes into a controlling stake at any time over a three-year period, the Singapore-listed company said in a filing to SGX.

Read more: Vividthree to subscribe for GammaR convertible loan notes

Asia-Pacific Strategic Investments

Asia-Pacific Strategic Investments has entered into a non-binding framework agreement to sell Huzhou Dixi Gengdu Ecological Agriculture Development and Zhongfang Lianhe Grand Canal Cultural Tourism Group to Bluetown The Spring Blossom Construction Group for 300 million yuan, according to a filing to SGX Wednesday.

Read more: Asia-Pacific Strategic enters non-binding deal to sell two subsidiaries for CNY300M

Hatten Land

Hatten Land‘s 19.3 percent-owned associate, ECXX Global, has obtained the Recognised Market Operator (RMO) license from the Monetary Authority of Singapore, which recognizes it as operating an organised market for securities and collective investment plans for capital markets products, the company said in a filing to SGX Wednesday.

Ley Choon Group

Ley Choon Group said Wednesday its subsidiaries, Teacly (S) and Chin Kuan Engineering and Contractors, have obtained two contracts valued at S$16.1 million in total for condition assessment and urgent repairs of underground services.

Telechoice International

Telechoice International said Wednesday it has opened a new Samsung Experience Store (SES) in ION Orchard mall, located on Singapore’s tony Orchard Road shopping belt, and its wholly owned subsidiary, Planet Telecoms (S), will manage and operate the outlet.

The outlet is the third SES operated by Planet Telecoms, bringing its retail operations to 10 outlets in Singapore, as it manages stores for leading handset manufacturers and for telco company StarHub, the company said in a filing to SGX.

Read Telechoice International’s filing to SGX.

MS Holdings

MS Holdings said Wednesday it was expanding into the hire-purchase leasing of motor vehicles via its wholly owned subsidiary Extol Global.

“In recent years, the group’s principal business of equipment leasing has faced strong headwinds amidst challenging economic conditions and lower rental rates. The board believes that the outlook for the equipment leasing business will remain challenging, particularly, in view
of the Covid-19 pandemic that continues to affect Singapore and other countries,” MS Holdings said in a filing to SGX.

“The management has identified Automotive HP Leasing as having the potential to develop an alternate income stream to the group by utilising the group’s existing cash balances,” the company said.

Read MS Holdings’ filing to SGX.


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