SG stocks Wednesday: SPH, Cuscaden Peak, Lendlease Global Commercial REIT, No Signboard

The MRT walkway at the Jem property in Singapore. Lendlease Global Commercial REIT entered a deal in February 2022 to acquire the remainder of the Jem property it didn't already own. Credit: Lendlease Global Commercial REITThe MRT walkway at the Jem property in Singapore. Lendlease Global Commercial REIT entered a deal in February 2022 to acquire the remainder of the Jem property it didn't already own. Credit: Lendlease Global Commercial REIT

Singapore companies in focus on Wednesday, 23 March 2022:

  • Singapore Minister Wong: ‘We won’t hesitate’ to turn on budget tap to protect economy
  • SPH shareholders approve takeover by Cuscaden Peak
  • Lendlease Global Commercial REIT launches S$574M equity fundraising

Others: No Signboard Holdings and Tuan Sing Holdings.

Singapore economy

Singapore’s Minister of Finance Lawrence Wong, who is in the running to become the city-state’s next prime minister, offered assurances on the economy Tuesday.

“We will certainly not hesitate to do more, whether through fiscal or monetary policies, to make sure that we keep this economy steady, or stabilize prices and do everything we can to help households, businesses and workers,” Wong said at the Singapore APEX Business Summit in Singapore.

Read more: Singapore Minister Wong: ‘We won’t hesitate’ to turn on budget tap to protect economy

SPH, SPH REIT and Cuscaden Peak

Shareholders of Singapore Press Holdings (SPH) have approved the Cuscaden Peak’s proposed acquisition of the company at an extraordinary general meeting (EGM) Tuesday, the company said in a filing to SGX. 

Read more: SPH shareholders approve takeover by Cuscaden Peak

Lendlease Global Commercial REIT

Lendlease Global Commercial REIT (LREIT) has launched an equity fundraising of at least S$573.8 million via a private placement and a preferential offering, the REIT said in a filing to SGX Tuesday. 

Read more: Lendlease Global Commercial REIT launches S$574M equity fundraising

Tuan Sing Holdings and Mitsubishi Estate

Tuan Sing Holdings and Japanese property developer Mitsubishi Estate Co. (MEC) are tying up to develop an international luxury outlet mall in Indonesia to be called The Grand Outlet – East Jakarta, the companies said in a filing to SGX Tuesday.

Read more: Tuan Sing, Mitsubishi Estate to develop luxury outlet mall in Indonesia

No Signboard Holdings

Troubled No Signboard Holdings said Tuesday it was “cautiously optimistic,” barring unforeseen circumstances, that the loans from two new prospective controlling shareholders would assist in meeting its working capital needs. 

Read more: No Signboard: ‘Cautiously optimistic’ shareholder loans will assist on working capital

Briefs

Singapore company briefs: Federal International (2000), Forise International, Kitchen Culture and Oceanus Group. Read more

Singapore companies announcing executive changes: Kitchen Culture. Read more.

Singapore substantial shareholder changes: Ascendas India Trust. Read more

 

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