SG briefs: Genting Singapore, Ascendas India Trust, Asiatic, Amos

Lego store at Genting Singapore's Resorts World Singapore. Photo taken November 2021Lego store at Genting Singapore's Resorts World Singapore. Photo taken November 2021

Singapore company briefs: Asiatic Group (Holdings), Ascendas India Trust, Genting Singapore and Amos Group.

Genting Singapore

Genting Singapore is not considering entering the Japan market currently, as the country’s integrated resort legislation has set a seven-year cycle for each trance of licenses, Tan Sri Lim Kok Thay, the Resorts World Sentosa operator’s executive chairman, said at the annual general meeting in late April, according to minutes filed to SGX Monday.

“Based on existing timeline, there would not be another IR there for a number of years,” Tan said, according to the minutes.

Read more: Genting Singapore: Yokohama City cancels integrated-resort bid process

Ascendas India Trust

Ascendas India Trust has entered into a S$300 million sustainability-linked term loan facility agreement with DBS Bank, the REIT said in a filing to SGX Monday.

Asiatic Group (Holdings)

Asiatic Group (Holdings) warned Monday it expected to report a net loss for the fiscal year ended 31 March.

The loss is mainly due to the impairment of property, plant and equipment in the Special Economic Zone power plant on lower electricity demand during the year amid a global supply chain crisis, the company said in a filing to SGX.

In addition, the company faced costs for arbitration proceedings and from disposing of assets at the Phnom Penh and Sihanoukville power plants as electricity contracts were shortened, the filing said.

Amos Group

Amos Group provided notice Monday it has posted three consecutive years of losses.

If a company posts losses for the three most-recent financial years and its average daily market capitalization is less than S$40 million for the past six months, SGX will place the issuer on a watch-list.

The company said its average daily market capitalization for the past six months was at S$29.8 million.