Singapore company briefs: ST Engineering, Keppel DC REIT, Yunnan Energy International, Vickers Venture Partners, Scilex and Koufu.
ST Engineering, in a fresh statement Friday, on the completion of its acquisition of TransCore, highlighted that the deal was projected to be cash flow positive from the first year and earnings accretive from the second year.
“The U.S. is a key market for ST Engineering, and the addition of a market leader like TransCore will expand our North American footprint, workforce and capabilities in a significant way. TransCore will play a key role in contributing to our Smart City growth ambitions,” Vincent Chong, group president and CEO of ST Engineering, said in the statement filed to SGX Friday.
Keppel DC REIT
Keppel DC REIT said Friday has entered a GBP70 million revolving credit facility.
Vickers Venture Partners
The Nasdaq-listed special purpose acquisition company (SPAC) sponsored by Singapore-based early stage venture capital firm Vickers Venture Partners will merge with Scilex Holding Co., a subsidiary of pharmaceutical player Sorrento Therapeutics, the Business Times reported Friday.
Scilex focuses on developing non-opioid therapies for patients with acute and chronic pain, the report said.
Koufu Group, a food court operator which recently suspended its shares on SGX, will start charging its most of its tenants around S$200 to S$300 more monthly in fees due to higher electricity costs, according to a Business Times article Friday.
Yunnan Energy International
Yunnan Energy International, which is listed in both Hong Kong and Singapore, warned Friday it expected its net loss for 2021 would narrow by around 56 percent from the 2020 net loss of HK$62.2 million.
The narrower net loss is expected due to increased revenue from the supply-chain business, lower impairment losses on trade receivables and lower operating expenses, the company, formerly called Techcomp (Holdings), said in a filing to SGX.
The results are expected to be released by end-March, said Yunnan Energy International, which is mainly engaged in designing and manufacturing analytical instruments and life science equipment, as well as property holding.