SG briefs: SGX, OCBC, Spackman, Chip Eng Seng, Sinarmas Land

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Singapore company briefs: Singapore Exchange (SGX) and OCBC, Spackman Entertainment Group, Chip Eng Seng and Sinarmas Land.

SGX and OCBC

Singapore Exchange (SGX) and OCBC announced Thursday the listing of the Lion-OCBC Securities Singapore Low Carbon ETF, which tracks the iEdge-OCBC Singapore Low Carbon Select 50 Capped Index; the 50-member index tracks globally listed Singapore companies with lower carbon intensity than their peers.

“This listing comes at a time when companies’ decarbonisation efforts are ramping up, and owning a sustainable investment portfolio is becoming increasingly important for investors. This product is an effective portfolio decarbonisation and diversification tool for investors looking to invest in a low-carbon future while maintaining competitive returns,” Michael Syn, head of equities for SGX Group, said in a statement filed to the exchange.

SGX Index Edge, a tie up between SGX and FactSet, develops indexes based on trends for use by investment vehicles.

Sinarmas Land and Palari

Sinarmas Land (SML Group) and Palari Group have entered a tie-up to jointly expand Palari’s pipeline of sustainable housing communities and accelerate existing developments in the U.S., with Sinarmas Land taking a 40 percent stake in the venture, the companies said in a filing to SGX Friday.

“The collaboration between Palari and SML Group will directly address the housing shortage by developing modern, sustainable, and affordable homes in multiple growing markets, starting in California,” the statement said.

Palari has three communities under development, totalling over 200 lots, including a 3D-printed zero net energy community in California, the filing said.

Chip Eng Seng

Chip Eng Seng said Friday it has completed the acquisition of a 21 percent stake in the joint venture company for the property at 8 Shenton Way in Singapore. In addition, Sing-Haiyi Emerald has also completed the acquisition of a 21 percent stake, Chip Eng Seng said in a filing to SGX.

Chip Eng Seng added it has also entered a shareholders’ loan agreement for the stakeholders to lend the joint venture funds in the proportion of their shareholdings for the development of the property; the company said its portion was around S$188.2 million.

Spackman Entertainment Group

Spackman Entertainment Group said Thursday it is exploring new projects to take advantage of the rising demand for Korean content, particularly on streaming services.

“With signs of China’s ban on Korean content softening, coupled with the burgeoning demand for Korean dramas and films across the world, the group shall reinforce its strategy to continue to develop, produce and invest in top quality Korean content projects,” Spackman said in a filing to SGX with answers to questions from the Securities Investors Association (Singapore), or SIAS.

In addition, Spackman noted it also has the relevant experience in producing and financing U.S./Hollywood films, citing a similar business model, and the company’s ability to delivery quality films with competitive budgets. Spackman cited its role as co-producer of the film “Snowpiercer,” and its investment in the film “When I Live My Life Over Again.”