SG stocks Friday: SIA, SGX, Vertex Venture, ECON Healthcare, Frasers Centrepoint, Metro

A Singapore Airlines Scoot plane on the tarmac at Changi Airport in October 2018.A Singapore Airlines' Scoot plane at Changi Airport

Singapore companies in focus on Friday, 14 January 2022:

  • Singapore Airlines prices US$600M bond issue
  • SGX: December derivatives volume rose amid risk-management demand
  • Vertex Venture registers final prospectus for IPO of VTAC
  • ECON Healthcare sells its Crosstec shares after around 85 percent plummet

Others: Frasers Centrepoint Trust, Metro Holdings, UOL Group and Wee Investments, China Everbright Water, International Cement Group, Pan-United Corp., Tiong Woon Corp., Hatten Land and SMI Vantage, TEE International, Qian Hu, QT Vascular and Swiber Holdings.

Singapore Airlines

Singapore Airlines (SIA) has priced US$600 million in notes due 2029 at 3.375 percent to fund aircraft-related expenses, the Singapore flag-carrier said in a filing to SGX Thursday. 

Read more: Singapore Airlines prices US$600M bond issue

Vertex Venture Holdings

Vertex Venture Holdings said Thursday it has registered the final prospectus for the initial public offering (IPO) of Vertex Technology Acquisition Corp. (VTAC), a special purpose acquisition company (SPAC). 

The IPO is expected to raise S$200 million, representing 40 million units, subject to an overallotment option to raise another S$11.8 million, Vertex Venture said in a filing to SGX. The offering has 13 cornerstone investors taking up 55.5 percent of the total units, assuming the over-allotment option isn’t exercised, the filing said. 

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

Singapore Exchange

Singapore Exchange (SGX) reported Thursday its derivatives traded volume in December rose 5 percent on-year to 19.3 million contracts, a three-month high.

Read more: SGX: December derivatives volume rose amid risk-management demand

Frasers Centrepoint Trust

Frasers Centrepoint Trust gave no specifics or timeline for any potential near-term acquisitions in its answers to unitholders’ questions on Wednesday, ahead of its annual general meeting (AGM).

Read more: Frasers Centrepoint Trust acquisition pipeline unclear

Metro Holdings

Metro Group has entered a strategic collaboration with Tokyo-listed Daiwa House Industry to cooperate on additional investment opportunities, the Singapore-listed retail operator and property investor said in a filing to SGX Wednesday.

Read more: Metro Group enters tie-up with Daiwa House Industry

UOL Group and WEE Investments

Wee Investments acquired 278,000 shares of UOL Group for S$7.00 each in the market on 10 January and 168,000 shares of UOL Group for S$6.99526 a share in the market on 11 January, according to filings to SGX Wednesday.

Read more: Stake changes: Wee Investments increases UOL Group stake

China Everbright Water

China Everbright Water has completed the issuance of the second tranche of its yuan-denominated super and short-term commercial papers, which were fully subscribed by institutional investors in China’s national inter-bank bond market, the water-management company said in a filing to SGX Thursday.

The notes had a principal amount of 1 billion yuan, a maturity of 150 days and an interest rate of 2.5 percent, the filing said, adding the proceeds will be used to replenish working capital.

Read China Everbright Water’s filing to SGX.

International Cement Group

International Cement Group said Thursday its cement plant in the Almaty region of Kazakhstan has resumed normal operations as the situation in the country has stabilized.

“Since a state of emergency and nationwide curfew still remain in place, management will continue to be vigilant and take the necessary precautionary measures to ensure the safety of our employees,” the company said in a filing to SGX. “At this juncture, the company is unable to quantify the extent of the financial impact of the unrest on the group.”

Pan-United Corp. 

Pan-United Corp. said Wednesday it has signed a memorandum of understanding (MOU) with Shell Eastern Petroleum to explore decarbonisation ideas in the construction and urban services industries, including low-carbon and renewable energy products, electric mobility services, circular use of materials and other digitalisation-enabled options. 

“In particular, Pan-United and Shell will explore repurposing used industrial materials and carbon dioxide from Shell’s local facilities such as the Shell Energy and Chemicals Park Singapore on Bukom and Shell Jurong Island, as alternative raw materials in the production of low-carbon concrete. This will significantly reduce energy consumption and environmental impacts during the fabrication process of construction materials,” Pan-United said. 

Read Pan-United’s filing to SGX.

Tiong Woon Corp.

Tiong Woon Corp.’s wholly owned subsidiary Tiong Woon Tower Crane (TWTC) has been granted an option to purchase the industrial property at 12 Benoi Place in Singapore for S$8.4 million from National Robex, the company said in a filing to SGX Wednesday. The deal is subject to approval from JTC Corp.

TWTC plans to use the property for its tower crane business, the filing said. The consideration will be funded by a combination of internal resources and bank borrowings, Tiong Woon said.

Hatten Land and SMI Vantage

Hatten Land has entered a deal to being cryptocurrency mining activity in a pilot phase with 50 sets of mining rigs to be delivered by end-January by SMI Vantage, followed by the next batch of 1,500 rigs to be installed over February to March, according to a filing to SGX Thursday. 

SMI Vantage has the option to provide another 1,000 cryptocurrency mining rigs in 2022, for a total of more than 2,500 sets, the filing said. 

Read Hatten Land’s filing to SGX.

ECON Healthcare (Asia)

ECON Healthcare (Asia) has sold its 11.8 million shares of Crosstec Group after the value plunged around 85 percent, a loss considered “material” at more than half of fiscal 2021’s net profit, the nursing home operator said in a filing to SGX Thursday. 

Read more: ECON Healthcare sells its Crosstec shares after around 85 percent plummet

TEE International

TEE International‘s auditors have issued a disclaimer of opinion on the company’s financial statements for the 16-month period ended 30 September 2021, and cited material uncertainties over its ability to continue as a going concern, according to a filing to SGX Thursday. 

Read more: TEE Intl: Auditors cite material uncertainties over going concern

Qian Hu

Qian Hu Corp. swing to a S$1.72 million net profit for 2021 from a year-earlier loss of S$1.43 million on a recovery in air freight operations, which boosted its exports, the ornamental and edible fish breeder said in a filing to SGX Wednesday. 

Read more: Fish breeder Qian Hu swings to 2021 profit

QT Vascular

QT Vascular said early Friday it has completed the acquisition of 60 percent of Asia Dental Group, or the Healthcare Group, in an all-share transaction. 

Read QT Vascular’s filing to SGX.

Swiber Holdings

Swiber Holdings said Thursday it has completed the sale of the vessel called Resiliant, formerly known as Swiber Conquest, to Mermaid Subsea Services (Thailand).

In a separate statement, Swiber said the Singapore High Court has granted its application to extend the judicial management period for the company to 30 June 2022.

Read more: Swiber to sell vessel to Mermaid Maritime for US$7M, well below book value


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