Stake changes: Temasek, SPH REIT, Yangzijiang Financial, T. Rowe Price

The Paragon Mall at Singapore's Orchard Road shopping belt, shown with Longchamp and Gucci signage, is part of SPH REIT's portfolio. Photo taken in January 2022The Paragon Mall at Singapore's Orchard Road shopping belt, shown with Longchamp and Gucci signage, is part of SPH REIT's portfolio. Photo taken in January 2022

Singapore substantial shareholder changes: Temasek Holdings and SPH REIT; and Yangzijiang Financial Holdings (YZJFH) and T. Rowe Price Associates.

Temasek Holdings and SPH REIT

Singapore state-owned investment company Temasek Holdings saw its deemed interest in SPH REIT rise to 47.5 percent from 0.8 percent on 29 April via its deemed interest in Cuscaden Peak, which recently acquired Singapore Press Holdings (SPH), according to a filing to SGX Friday.

The consortium Cuscaden Peak includes Tiga Stars, a wholly owned subsidiary of tycoon Ong Beng Seng’s Hotel Properties, and Adenium, which is a wholly owned subsidiary of Temasek portfolio company CLA Real Estate Holdings, as well as Mapletree Investments‘ indirect wholly owned subsidiary Mapletree Fortress. Mapletree Investments is wholly owned by Singapore state-owned investment company Temasek.

Cuscaden Peak is 40 percent owned by Tiga Stars, 30 percent by Adenium and 30 percent by Mapletree Fortress. Tiga Stars is 70 percent owned by Hotel Properties, with the remainder held by Como Holdings, which is ultimately owned by Ong Beng Seng, who is the controlling shareholder of Singapore-listed Hotel Properties. Adenium is wholly owned by CLA Real Estate Holdings, which is an independently managed portfolio company of Temasek.

Yangzijiang Financial Holdings (YZJFH) and T. Rowe Price Associates

T. Rowe Price Associates acquired 295.98 million shares of Yangzijiang Financial Holdings (YZJFH) in an off-market transaction for S$0.74 each on 22 April, giving it a 7.49 percent stake, according to a filing to SGX Friday.

U.S.-listed T. Rowe Price Group has US$1.68 trillion in assets under management as of end-2021.

Shares of YZJFH ended Friday at S$0.48, up 2.13 percent.