Singapore companies in focus on Monday, 25 April 2022:
- Wealth management fintech iFAST posts weak 1Q22 on market turmoil
- Cuscaden Peak to review SPH’s assets: HPL
- Keppel: Rig market has ‘picked up significantly’
- Wee Hur, investors to sell 50 percent stake in Australia student housing portfolio for A$568M
Others: UOB, Dasin Retail Trust, Cromwell European REIT, Parkway Life REIT and Isetan Singapore.
- Wealth-management fintech iFAST Corp. posted a weak first quarter, swinging from a “very positive” first quarter of 2021 as global market conditions turned dreary.
- Getting Southeast Asia’s widely unbanked population to sign up for digital banking isn’t that difficult – it’s convincing those customers to stick around that’s challenging. That’s according to Kevin Lam, head of TMRW and group digital banking at Singapore bank UOB.
- Cuscaden Peak‘s consortium members plan to review the businesses of recently acquired Singapore Press Holdings (SPH), to evaluate strategic options, including re-organization, Hotel Properties Ltd., a consortium member, said Friday.
- Keppel Corp. has seen the rig market pick up “quite significantly,” with the volume of enquiries rising, Chris Ong, CEO of Keppel Offshore & Marine, said in a media briefing on the company’s results.
- Wee Hur Holdings and other unitholders in the Wee Hur PBSA Master Trust (WHPMT), which holds Australian student accommodation assets, have entered a deal to sell 49.9 percent of the trust for A$567.86 million to an institutional investor, the company said in a filing to SGX Friday.
- Cromwell European REIT has acquired three light industrial/logistics properties, two in Italy and one in Germany — for EUR68.3 million, or around S$105.5 million, the Europe-focused REIT said in a filing to SGX Friday.
- Parkway Life REIT reported Friday its first quarter net property income rose 1.9 percent on-year to S$28.55 million, partly on contributions from acquisitions.
- Dasin Retail Trust plans to use the proceeds of its proposed divestment of two malls to repay its outstanding loans, but the sale isn’t a done deal, the REIT said in a filing to SGX Friday with answers to shareholders’ questions before its annual general meeting (AGM).
- Isetan Singapore has no plans to exit Singapore’s retail sector, the department store operator said in a filing to SGX Friday with answers to shareholders’ questions before its annual general meeting (AGM).