SG briefs: SIA Engineering, Lendlease Global Commercial REIT, Ascendas REIT, Stamford Land, Mapletree Logistics

Exterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust ManagementExterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust Management

Singapore company briefs: SIA Engineering and North American Aerospace Industries, Lendlease Global Commercial REIT, Ascendas REIT, Stamford Land and Mapletree Logistics Trust.

SIA Engineering and North American Aerospace Industries

SIA Engineering said Monday its wholly owned subsidiary, SIA Engineering (Philippines), has signed a deal with North American Aerospace Industries (NAAI), an aircraft part-out specialist, to provide sustainable aircraft recycling services. 

The two will collaborate on services including aircraft parking and storage, component harvesting and dismantling activities on aircraft which will be parted out and recycled by NAAI, SIA Engineering said in a filing to SGX.

“The program will enhance SIAEC’s support in the aircraft lifecycle eco-system, centred on a sustainable platform which includes the recycling, upcycling and used-serviceability of materials,” the filing said. 

Read SIA Engineering’s filing to SGX.

Lendlease Global Commercial REIT

Lendlease Global Commercial REIT said Monday it would deploy additional gross floor area from the URA Master Plan 2019 to two prime units on the ground floor at its 313@somerset property to expand leasable space. 

The REIT is also planning to redevelop the Grange Road carpark into a multi-functional event space, according to a filing to SGX. The mall will be adding PUMA’s first Southeast Asia flagship store as part of a refreshed tenant mix, Lendlease Global Commercial REIT said.

Read more details of LREIT’s plan

Mapletree Logistics Trust

Mapletree Logistics Trust said Monday it has completed the indirect acquisition of a Malaysia property via Semangkuk 2, a special purpose vehicle (SPV), from Trinity Bliss for 404.8 million ringgit, or around S$130.2 million.

As part of the deal, the SPV issued senior unrated take-out medium-term notes of 230 million ringgit, with tenures of seven to nine years, and unrated junior take-out medium-term notes of 200 million ringgit with tenures of seven to nine years, the trust said in a filing to SGX.

Read more: Mapletree Logistics to acquire Malaysia property via asset-backed securitisation

Ascendas REIT

Ascendas REIT said Monday it has completed the acquisition of a new logistics property located at 500 Green Road, Crestmead, in Brisbane, Australia, for S$69.1 million.

The completion brought the portfolio to 95 properties in Singapore, 35 in Australia, 41 in the U.S. and 49 in the U.K./Europe, the REIT said in a filing to SGX.

Read more about the acquisition.

Stamford Land

Stamford Land updated Monday that its 703.74 million rights shares are expected to be issued on or around 15 February, instead of 14 February, and are expected to be listed on SGX on 16 February. 

Read more: Stamford Land: Rights issue more than 140 percent subscribed