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Stock Headliners You Need To Know
Headliners | 03 April 2014
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By: Shane Goh
Articles (99) Profile

Ascendas Hospitality Trust has raised $50m via a private placement of 73.5m new stapled securities at $0.68 apiece. The proceeds will be used to partially fund the acquisition of Osaka Namba Washington Hotel Plaza, repay existing debt and general corporate and working capital purposes.

CapitaLand’s serviced residence business unit, The Ascott, has acquired an operating 55-unit serviced residence in Hong Kong for HK$545m (approximately $88.8m). The property is Ascott’s fourth in its Hong Kong portfolio.

Charisma Energy Services has won a contract to lease 11 sets of hydro-electric power generation equipment for power supply to a national utility board in South Asia. The contract, worth US$180m, is expected to commence in 2Q14 for a period of 15 years.

China Mining International (CMI) proposed a $1b reverse takeover (RTO) deal to acquire China Minerals Energy (CME) and transform itself from a property development company into a pure mining firm. The deal will be financed through the sale of its existing business and issuance of CMI shares. CME has interests in 5 mines across China, South Australia, Nigeria and Tajikistan. Following the proposed RTO, CME will own about 93.3% of the shares in CMI.

Gaylin Holdings seeks to expand its operations within Asia Pacific through collaboration with a local Malaysian partner, Husky Enviro Services. Husky’s business activities include provision of waste and environmental services to the oil and gas industry sector in Malaysia.

Global Logistic Properties (GLP) has leased 21,000 sqm of warehousing space to Sagawa Global Logistics Co, 1 of Japan’s largest third-party logistics provider, at GLP Hiroshima. With the agreement, GLP Hiroshima is fully leased.

LionGold Corp has entered into agreements to raise approximately $39.7m in net proceeds through the issuance of shares and unsecured redeemable convertible bonds. An estimated 70% of the net proceeds will be directed towards gold mining operations with the balance used as working capital.

Noble Group has agreed to sell a 51% stake in its agribusiness, Noble Agri, to a consortium led by COFCO Corporation for an initial payment of US$1.5b in cash. The final consideration will be adjusted to equal 1.15 times of 51% of Noble Agri’s FY14 ending book value. Noble Group stands to gain an estimated US$64.8m from the proposed sale.

Oversea-Chinese Banking Corporation’s (OCBC) subsidiary, OCBC Pearl, has made an offer to buy Hong Kong Stock Exchange-listed Wing Hang Bank for HK$38.4b (about $6.2b) in cash. The proposed acquisition value is approximately 1.8 times Wing Hang’s consolidated net book value as at 31 Dec-13. The proposed purchase is part of OCBC’s Greater China strategy.

Pacific Radiance secured a US$100m contract for the first of its 14 newbuilds scheduled for delivery in FY14. The maintenance work vessel will be chartered to an international oil major for up to 7 years, including extensions, for a project in South East Asia.

SIIC Environment Holdings’ subsidiary, Nanfang Water Co, has disposed its 52% stake in Kunming Nanfang Water Co for Rmb14.5m (approximately $3m). The sale consideration is about $0.9m higher than the value of its net assets as at 31 Dec-13.

Swissco Holdings proposed a $285m acquisition of Scott and English Energy, a company engaged in owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in their exploration and production activities. The proposed purchase, if successful, marks Swissco’s foray into the offshore rig chartering business.

Currently pursuing his Chartered Financial Analyst qualification, Shane provides coverage on the property, consumer and environmental sectors at Shares Investment.

Please click here for more information about this author.

Ascendas Hospitality Trust  1.040 -- --   
Business: A stapled group comprising Ascendas Hospitality Real Estate Investment Trust and Ascendas Hospitality Business Trust.

Insight: May-19, FY19 revenue fell 6.3% to $190.5m while NP... Read More
CapitaLand  3.630 +0.03 +0.83%   
Business: Co develops, owns, and manages real estate properties. [FY18 Geographical] China (41.2%), S'pore (38.5%), Europe & others (18.6%), Vietnam & Others (1.7%).

Insight: Apr-19, 1Q19 revenue fell 23.8% while net profit d... Read More
Charisma Energy Svcs  -- -- --   
Business: Co engages in the provision of mechanical & electrical engrg svcs as well as the devt, ownership & chartering of oil & gas & marine related assets.

Insight: Aug-18, 1H18 revenue increased by 4% due to revenu... Read More
AMOS Group  -- -- --   
Business: Multi-disciplinary specialist providers of rigging & lifting solutions. [FY18 Turnover] Rigging & lifting (77.1%), ship chandling (22.9%).

Insight: Aug-18, 1Q19 revenue slid 17.5% mainly due to decr... Read More
LionGold Corp  0.001 -- --   
Business: Co has interests in gold mining and exploration companies in Australia and Ghana.

Insight: May-19, FY19 revenue rose 18.6% due to increased t... Read More
Oversea-Chinese Banking Corp  11.640 +0.10 +0.87%   
Business: [FY18 Turnover] Global corporate/investment banking (35%), global consumer/private banking (34.8%), OCBC Wing Hang (11.5%), insurance (11%), global treasury & mkts (7.7%).

Insight: May-19, 1Q19 total income rose 14.7% driven by str... Read More
Pacific Radiance  -- -- --   
Business: Co is a provider of offshore support solutions with a fleet of more than 130 vessels. [FY17 Turnover] Offshore support services business (62.4%), subsea business (27.8%), complementary business (9.8%).

Insight: Nov-18, 9M18 revenue fell 5.7% to US$45.9m mainly ... Read More


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