UPDATE: SG briefs: UOB, DBS, Hotel Properties, SPH, Cuscaden Peak, ESR Cayman, Tung Lok

UOB bank branch at VivoCity mall. Photo taken November 2021UOB bank branch at VivoCity mall. Photo taken November 2021

Singapore company briefs: UOB, DBS, Hotel Properties, Singapore Press Holdings (SPH), Cuscaden Peak, ESR Cayman and Tung Lok Restaurants.

This item was originally published on Saturday, 26 March 2022 at 19:59 SGT; it has since been updated to include more information on UOB.


UOB said Saturday it has increased the maximum total principal amount of covered bonds which can be issued under its covered bond program to US$15 billion from US$8 billion previously. 

In a separate filing to SGX, UOB said it had increased the program limit of its global medium term note program to US$30 billion from US$15 billion. 

DBS and Hotel Properties

DBS said Wednesday it has priced a five-year S$180 million senior bond deal for Hotel Properties Ltd. at 4.20 percent. That confirms a previous article by Shenton Wire.

The net proceeds will be used by Hotel Properties to refinance existing borrowings and to finance working capital requirements, including redeeming Hotel Properties’ S$150 million 4.65 percent subordinated perpetual securities, which are callable in May, DBS said in a note.

DBS Bank and UOB were joint bookrunners for the offering, the note said.

Singapore Press Holdings (SPH) and Cuscaden Peak

Singapore Press Holdings (SPH) said that subject to court approval at a hearing on 1 April, the last trading day of its shares would be 7 April. Cuscaden Peak would send the election forms to SPH shareholders to chose their preferred consideration on 14 April, SPH said in a filing to SGX.

Read more: SPH shareholders approve takeover by Cuscaden Peak

ESR Cayman

ESR Cayman proposed Friday changing its name to ESR Group, subject to approval by its shareholders at its upcoming annual general meeting (AGM).

“In view of the group’s business operations in the Asia-Pacific region, the board has proposed to change the name of the company as it believes that the proposed new name of the company would better reflect the group’s operations,” ESR Cayman said in a filing to SGX.

Tung Lok Restaurants

Tung Lok Restaurants said Friday its wholly owned subsidiary, Tung Lok Millennium, has increased its investment in its fully owned subsidiary Tung Lok Peking Duck Restaurant (TLPDK) by S$200,000 to S$400,000, to provide working capital. TLPDK was former known as Tung Lok Xihe Restaurant.

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