SG briefs: Cuscaden Peak, SPH REIT, Sakae, VCPlus, PEC

Sakae Sushi outlet in Singapore In Paya Lebar Square mall; taken September 2018.Sakae Sushi outlet in Singapore In Paya Lebar Square mall; taken September 2018.

Singapore company briefs: VCPlus, Cuscaden Peak, SPH REIT and Hotel Properties, PEC Ltd. and Sakae Holdings.

Cuscaden Peak, SPH REIT and Hotel Properties

Hotel Properties has filed Cuscaden Peak‘s documents for the mandatory cash offer for all units of SPH REIT to SGX Thursday.

The offer price is at S$0.9372 for each SPH REIT unit, the filing said. Units of SPH REIT closed Thursday at S$0.95.

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.

Read more: Cuscaden Peak sets bid price for SPH REIT chain offer

Sakae Holdings

Sakae Holdings said Thursday its has completed the disposal of a freehold commercial boutique bungalow building located in Kuala Lumpur, Malaysia.

A net loss on disposal of around S$30,000 will be recognised, the company said in a filing to SGX.

Read more: Sakae enters deal to sell Malaysia property for 11.5 million ringgit


PEC Ltd. said Thursday it has been awarded new contracts valued at around S$80 million for engineering, procurement and construction (EPC) and mechanical works for projects in the energy & chemicals and the floating production storage and offloading (FPSO) sectors.

Robert Dompeling, PEC’s group CEO, noted Russia’s invasion of Ukraine has increased risks of energy supply interruptions and sent prices surging.

“We are cautiously optimistic about prospects for projects works and maintenance in the energy, chemicals and storage terminals sectors over the medium term, and will continue to expand and deepen our capabilities in the ‘green’ value chain to capture a share of the potential pipeline of projects coming onstream,” he said in the statement filed to SGX.


VCPlus said Thursday it has completed the disposal of wholly owned subsidiary GGTM.

“The group has exited from the granite dimension stone business and is no longer a mineral, oil and gas company,” the company said in a filing to SGX.

Read more.