SG briefs: NIO, NeraTel, OUE Commercial REIT, Metech

The NIO EP9 (left) and NIO ES8 (right) models on display at SGX Centre in mid-May 2022 as electric vehicle (EV) maker's secondary listing on SGX began trading. Credit: SGXThe NIO EP9 (left) and NIO ES8 (right) models on display at SGX Centre in mid-May 2022 as electric vehicle (EV) maker's secondary listing on SGX began trading. Credit: SGX

Singapore company briefs: NIO, Nera Telecommunications (NeraTel), OUE Commercial REIT and Metech International.

NIO

Smart electric vehicle (EV) maker NIO said Monday its shares would be included in the Hang Seng Tech Index and the Hang Seng Composite Index, effective 13 June. The Hang Seng Tech Index represents the 30 largest tech companies listed in Hong Kong.

OUE Commercial REIT

OUE Commercial REIT said Monday it has priced an offering of S$50 million 4.20 percent notes due 2027, to be called the tranche 002 notes, which will be consolidated into a single series with the existing tranche 001 notes issued earlier in May.

OCBC has been appointed as the sole lead manager and bookrunner for the tranche 002 notes, the REIT said in a filing to SGX.

Read more: OUE Commercial REIT prices S$100M notes due 2027

Nera Telecommunications (NeraTel)

Nera Telecommunications (NeraTel) reported Monday its first quarter revenue rose 22.4 percent on-year to S$27.9 million on a strong closing order backlog carried forward from 2021.

Chong Hoi Ming, CEO of NeraTel, said the company had seen a major improvement in the governemnt, transport and utilities sector, while technology sales also increased as the company worked with partners to deal with on-going chip shortages.

“Looking ahead, with 5G rollouts in Singapore and the reopening of the economies, we hope to see a gradual pick-up in the Services Provider market, where we have long-term working relationships with a large number of Tier 1 Service Providers,” Chong said in a filing to SGX.

Metech International

Metech International‘s subsidiary Metech Recycling (Singapore) has entered a deal to sell 60 percent of Blufu Water (Xinmin) to Greenspace Enviro for S$618,000, the company said in a filing to SGX Monday.

Greenspace Enviro currently holds the remaining 40 percent interest in Blufu Water (Xinmin), which is involved in managing wastewater treatment plants owned by the government in China, the filing said.

“As the company does not have plans to devote more resources to expand the wastewater treatment business, the proposed disposal will enable the Company to realise its investment and utilise the sale proceeds received from the proposed disposal to focus on its lab-grown diamond business. There is no gain or loss on the proposed disposal,” Metech said.