SG stocks Friday: Vertex Venture, NTUC Income, SembMarine, First REIT, Yanlord, Addvalue, SLB, Lian Beng

Singapore street sceneSingapore street scene

Singapore companies in focus on Friday, 7 January 2022:

  • Vertex Venture files to list Singapore’s first SPAC to raise S$200M
  • Insurer NTUC Income proposes converting to a corporation from a co-operative
  • SembMarine completes first floating production unit newbuild for Shell Offshore

Others: First REIT, Yanlord Land, Addvalue Technologies, SLB Development, Lian Beng Group, Pan-United Corp., Leader Environmental Technologies and International Cement Group.

Vertex Venture’s SPAC filing

Vertex Venture Holdings, a subsidiary of Singapore state-owned investment company Temasek Holdings, has filed Thursday for an initial public offering (IPO) of Vertex Technology Acquisition Corp., or VTAC, set to become the first special purpose acquisition company (SPAC) to list in Singapore.

Read more: Vertex Venture files to list Singapore’s first SPAC to raise S$200M

Sembcorp Marine

Sembcorp Marine (SembMarine) has completed the Vito Regional Production Facility (RPF) for Shell Offshore, its first floating production unit (FPU) newbuild delivery, the company said in a filing to SGX Thursday.

Read more: SembMarine completes first floating production unit newbuild for Shell Offshore

First REIT

First REIT has set an extraordinary general meeting (EGM) for 28 January for unitholders to vote on whether to acquire 12 nursing homes in Japan and on whether to accept a proposed settlement of around S$30.6 million on terminated works adjacent to Siloam Hospitals Surabaya, according to a filing to SGX Thursday. The proposed settlement is considered an interested person transaction, the filing said.

“Independent directors and audit and risk committee recommend that unitholders vote in favour of each of the resolutions,” the filing said, adding the recommendations follow the opinion of the independent financial adviser.

Read more: OUE Lippo Healthcare to sell 12 Japan nursing homes to First REIT for around S$164M

NTUC Income

Singapore insurer NTUC Income has proposed a corporatisation exercise to convert to a company from a co-operative, according to a filing to SGX Thursday.

Read more: Insurer NTUC Income proposes converting to a corporation from a co-operative

Yanlord Land

Yanlord Land said Thursday its December total contracted pre-sales from residential and commercial units and car parks, including joint ventures and associates, amounted to around 9.22 billion yuan from contracted gross floor area of 322,671 square meters, down 16.3 percent and 18.5percent, respectively, from December 2020.

For the January-to-December period, Yanlord, along with joint ventures and associates, posted total contracted presales across residential, commercial and car-park units of 59.59 billion yuan on contracted gross floor area of 1.87 million square meters, down 24 percent and 12.7 percent, respectively, compared with the year-ago period, the Chinese property developer said.

Read Yanlord Land’s filing to SGX.

Addvalue Technologies

Addvalue Technologies said Thursday it has completed the issuance of new shares and warrants to Economic Development Innovations (Singapore), various new investors and Cheng Kwee Kiang as well as directors, employees and business associates.

Read more: UPDATE: Addvalue enters deals to raise up to S$13.25M from EDIS, other new investors, directors

SLB Development

SLB Development guided Thursday it expected its consolidated net profit for the six months ended 30 November would show a “significant increase” on-year.

“The expected profit growth is mainly due to substantial sales of units in the company’s property development projects and recognized as the projects’ construction progressed,” SLB Development said in a filing to SGX.

The earnings results are expected to be released on or before 14 January, the company said.

Lian Beng Group owns around 77.60 percent of SLB Development as of 16 August 2021, according to SGX data.

Lian Beng Group

Lian Beng Group warned Thursday that despite its 77.60 percent-owned subsidiary SLB Development guiding for higher profit, the company expected its overall performance for the six months ended 30 November would be lower compared with the year-earlier period.

“The ongoing Covid-19 situation continues to be challenging for the group’s construction business segment,” Lian Beng said in a filing to SGX.

The earnings results are expected to be released on or before 14 January, the company said.

Pan-United

FiCO Pan-United Concrete JSC (FiCO PanU), a subsidiary of Singapore-listed concrete producer Pan-United, has entered an agreement for 2022 to 2024 to supply sustainable concrete services to Vietnamese real estate development brand Novaland, the company said in a filing to SGX Thursday.

Read more: Pan-United enters Vietnam tie-up with Novaland to supply Aqua City project

Leader Environmental Technologies

Leader Environmental Technologies said Thursday it obtained a 114.75 million yuan contract to build and operate a plant to treat municipal sludge in Hebei Province, China, and to recycle the treated sludge into bricks for a concessionary period of 30 years.

Read Leader Environmental Technologies’ filing to SGX.

International Cement Group

In an updated on its Kazakhstan operations, International Cement Group said Thursday that while the government there imposed a nationwide state of emergency due to anti-government demonstrations, the Alacem cement plant’s operations, located in the Amaty region, have not been significantly affected and are operating as normal.

“Management is making the necessary contingency plans and implementing additional safety measures in all our cement plants in Kazakhstan to ensure the safety of our employees,” the company said in a filing to SGX. “As the situation is still unfolding, it is currently premature to ascertain if there will be any material financial impact to the group.”

Nanofilm, United Hampshire US REIT, Suntec REIT and others

Singapore substantial shareholder changes: Nanofilm Technologies International, United Hampshire US REIT, Suntec REIT and BlackRock, Asian Pay Television Trust (APTT) and SHS Holdings.

Read more: Stake changes: Nanofilm, United Hampshire US REIT, Suntec REIT, APTT, SHS

Metal Component Engineering and AsiaMedic

Singapore companies announcing executive changes: Metal Component Engineering and AsiaMedic.

Read more: Executive moves: Metal Component Engineering, AsiaMedic

 

Follow Shenton Wire on Telegram to receive alerts on your phone