Singapore companies in focus on Monday, 6 June 2022:
- Olam: Weighing additional Olam Agri stake
- Stake changes: Kim Heng, Hildrics Capital and Credence Capital Fund
- Singapore Wholesale Digital Bank Opens Shop
Others: Yangzijiang Shipbuilding, SPH REIT, Fraser and Neave, and Malaysia Smelting Corp. (MSC).
- Olam Group is considering selling up to an additional 10 percent of Olam Agri Holdings, the agri-business said in a circular filed to SGX Sunday for the upcoming extraordinary general meeting (EGM).
- Credence Capital Fund II (Cayman) disposed of all of its around 125 million shares of Kim Heng, or around 17.71 percent of the company, for S$13.12 million in an off-market transaction, according to a filing to SGX Saturday.
- J.P. Morgan upgraded Yangzijiang Shipbuilding (YZJ) to Overweight from Neutral as the successful spinoff and listing of Yangzijiang Financial Holdings (YZJFH) turned the company into a pure-play Chinese shipbuilder.
- Cuscaden Peak is likely “happy” to keep SPH REIT as a listed entity while collecting REIT-management fees, Daiwa said in a note Thursday.
- Malaysia-listed Fraser & Neave Holdings Bhd. (F&NHB) has offered to acquire the 72.34 percent of Cocoaland it doesn’t already own for MYR488.15 million, or MYR1.50 a share, the food and beverage company said in a filing to Bursa Malaysia Friday.
Singapore-listed Fraser and Neave holds 55.475 percent of F&NHB, according to the Malaysian company’s 2021 annual report.
- Malaysia Smelting Corp. (MSC)‘s wholly owned subsidiary Rahman Hydraulic Tin (RHT) has entered a deal to acquire all of Asas Baiduri Sdn. Bhd. (ABSB) from Tin International Sdn. Bhd., according to a filing to SGX Friday.
- One of Singapore’s four planned digital banks has opened its doors for business.
- As the world begins to roll back pandemic restrictions, wallets are opening up — and watches are on consumers’ shopping lists.