SG stocks Thursday: DBS, Olam Intl, Ascott Residence Trust, Keppel, EC World REIT

DBS signage at the DBS Marina Regatta dragon boat race on 2 June 2019.DBS signage at the DBS Marina Regatta dragon boat race on 2 June 2019.

Singapore companies in focus on Thursday, 10 March 2022:

  • DBS CEO Piyush Gupta gets a pay bump
  • Olam International shares suspended from trade
  • Ascott Residence Trust to acquire five Japan longer-stay housing properties

Others: Keppel Corp., British and Malayan Holdings and EC World REIT.

DBS

Piyush Gupta, the CEO of Southeast Asia’s largest bank, DBS, received a pay bump of around 48 percent from 2020 to a total of S$13.58 million in 2021.

Correction: This item provided an incorrect comparison year for the percentage change of Piyush Gupta’s remuneration. His remuneration increased 12 percent from 2019, and 48 percent from 2020. 

Read more: DBS CEO Piyush Gupta gets a pay bump

Olam International and Olam Group

Olam International on Wednesday requested a mandatory suspension of its shares as part of its restructuring; on 16 March, the group will resume trade as Olam Group. 

Read more about the restructuring

Ascott Residence Trust 

Ascott Residence Trust (ART) will invest around JPY10.4 billion, or around S$125 million, to acquire four rental housing properties and its first student accommodation property in Japan, the trust said in a filing to SGX Wednesday. 

Read more: Ascott Residence Trust to acquire five Japan longer-stay housing properties

Keppel Corp. 

Keppel Corp. is pricing a 2.9 percent perpetual bond offering, with an indicative market offer in the 98.80 to 99.00 area, according to a client note seen by Shenton Wire Wednesday. 

Read more: Keppel pricing perpetual bond offer: Client note

EC World REIT

EC World REIT said Wednesday it would receive CNY108.5 million in compensation for the compulsory expropriation of the Fu Zhuo Industrial property by local Chinese authorities.

Read more: EC World REIT: To Receive CNY109M for Fu Zhuo Industrial property

British and Malayan Holdings

British and Malayan Holdings said Wednesday it has proposed the sale of its property located in The Adelphi building, at 1 Coleman Street, unit 08-01, in Singapore. 

Read more: British and Malayan Holdings proposes sale of The Adelphi unit

Darco Water, Ho Bee Land, Lian Beng and others

Singapore company briefs: Darco Water Technologies, Ho Bee Land, Singapore O&G, Lian Beng Group and Clearbridge Health.

Read more: SG briefs: Darco Water, Ho Bee Land, Singapore O&G, Lian Beng, Clearbridge Health

EcoWise and GKE Corp. 

Singapore company briefs: EcoWise Holdings and GKE Corp.

Read more: SG briefs: EcoWise Holdings, GKE Corp

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