SG briefs: Keppel, Keppel REIT, ComfortDelGro, Econ Healthcare, Nutryfarm

Trains at the Britomart Station in Auckland, New Zealand. Credit: ComfortDelGroTrains at the Britomart Station in Auckland, New Zealand. Credit: ComfortDelGro

Singapore company briefs: Keppel Corp. and Keppel REIT, Econ Healthcare (Asia), Nutryfarm International and ComfortDelGro.

Keppel Corp. and Keppel REIT

Keppel Corp. said Friday it sold 9 million Keppel REIT units, or an around 0.24 percent stake, via a married deal for S$1.23 a unit, or a total S$11.07 million. The REIT’s last traded price on Thursday was S$1.23, Keppel noted.

The sale reduced Keppel Corp.’s stake in the REIT to around 46.68 percent from 46.92 percent previously, the company said in a filing to SGX.


ComfortDelGro‘s Managing Director and CEO Yang Ban Seng said its tie-up with French government-owned rail operator RATP has been shortlisted for the rail tenders for the Greater Paris Express Line 15, 16 and 17.

In addition, ComfortDelGro’s Australian consortium has been shortlisted for the Western Sydney Airport 23km-long rail project, Yang said at the transportation company’s annual general meeting (AGM) in answer to shareholders’ questions, according to a transcript.

Yang added that before the latest round of Covid-related lockdowns in China, it was looking at taxi opportunities in second tier cities, such as Hainan and Huizhou, as margins there are still attractive.

Econ Healthcare (Asia)

Econ Healthcare (Asia) warned Friday it expected to report a loss for its fiscal second half, and a significantly lower profit for the fiscal year ended 31 March.

The warning was due to the investment loss from its investment in Crosstec Group and the cessation of Covid-related grants, the company said in a filing to SGX.

Read more: ECON Healthcare sells its Crosstec shares after around 85 percent plummet

Nutryfarm International

Nutryfarm International said Friday it has entered into agreements to issue up to S$25 million in convertible bonds to new investors including Hong Kong-based company Allied Benefit Enterprise, Belize-based company Forever Strong, Taiwanese citizen and Singapore permanent resident Yu Chien Pei and Chinese national Deng Yi Ming.

The four investors have agreed to take up S$16 million in total in the convertible bonds, and the company is in talks with other investors, with expectations of securing the remaining subscribers by mid-May, the durian trader said in a filing to SGX.

The bonds will have an interest rate of 6.75 percent per annum, with maturity three years from the issue date, the filing said, adding the share conversion price is S$0.085 a share, which is also the stock’s last traded price. The proceeds will be used for repayment of loans and/or general working capital, Nutryfarm said.