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Stock Headliners You Need To Know
Headliners | 26 March 2015
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By: Tan Jia Hui
Articles (82) Profile

Cambridge Industrial Trust (CIT) has acquired the remaining 40% interest in Cambridge SPV1 from Oxley Projects for a purchase consideration of approximately $11m. Following the completion of acquisition on 20 Mar-15, 3 Tuas South Avenue 4 is now a wholly-owned asset of CIT.

Metro Holdings’ indirect 50%-owned subsidiary Nordevo Investments has agreed to sell its 100% stake in China East Investment (indirectly owns EC Mall located in Beijing, China) for US$179.5m, in addition to the novation of shareholders loan of approximately US$123.2m. EC Mall, completed in 2009 and has a 99.5% occupancy as of 31 Dec-14, is considered a mature property suitable for divestment. The group’s 50% share of the consideration is approximately US$89.7m ($122.7m).

Noel Gifts International has been awarded a contract that is worth up to $7.9m by the Monetary Authority of Singapore for the packaging, marketing and sale of numismatic currency sets, expected to contribute materially to the company’s financial performance for the financial year ending 30 Jun-16.

Roxy-Pacific Holdings has entered into a 40:60 joint venture (JV) with Australia-based superannuation fund, Hostplus, for the acquisition of a 4.4-hectare land parcel in North Fremantle, Perth, Australia for A$59m ($63m). The deal is part of the group’s diversification strategy and the JV partners intend to rezone the industrial site for residential and commercial uses.

SIIC Environment Holdings has entered into a sale and purchase agreement to acquire the entire stake in Global Envirotech Investment (in turn holds a 92.2% stake in Fudan Water Engineering and Technology Co) in a deal valued at Rmb1.5b, which includes Rmb479.2m for the payment of outstanding debt. The consideration will be paid via Rmb151.7m in cash and the issuance of 1.6b new shares in SIIC (representing 16.3% of existing shares) at $0.132 per share, a 12.2% discount to the volume-weighted average price on 24 Mar-15. The acquisition is a strategic addition to the group’s existing business, expanding its geographical coverage.

Singapore Technologies (ST) Engineering  inked a 90:10 joint venture (JV) agreement with Tenryu Holdings Co, for the production of seating solutions in aircraft. Under the agreement, the JV company, ST Aerospace Aircraft Seats will be set up, while the planned investment outlay amounts to $29.8m.

Singapore Windsor Holdings has entered into a sale and purchase agreement for the disposal of its entire stake in its wholly-owned subsidiaries, Windsor Holding Investment and Windsor Metal Manufacture Co, for HK$55m ($9.8m). The disposal comes on the backdrop of a competitive environment in the circuit board business, which the 2 units operate in, with margins under pressure from rising labour costs in China.

TPV Technology posted a 2.4% drop in revenue to US$11.7b for the year ended 31 Dec-14, mainly led by a decline in contributions from monitor and television sales under the “Philips” brand. However, with an overall reduction in total expenditure, driven by a 12% and 13% reduction in selling and administrative expenses respectively, the company reversed losses and recognised a net profit of US$41.8m. The company has declared a final dividend per share of US$0.00128.

United Overseas Bank (UOB) is looking to take subsidiary, Far Eastern Bank, private by offering $3.51 per share for the remaining 21.1% stake, which could cost up to $74.2m. The deal is conditional on UOB receiving valid acceptances of at least 90% of the offer shares at the close of the offer. The offer will provide minority shareholders the opportunity to realise their investment by unlocking the value of their unlisted and illiquid shares, where privatising the company provides UOB with greater control and management flexibility to integrate the company’s operations in hopes for increased efficiencies.

Armed with a bachelor in mathematics, Jia Hui keeps close tabs on the oil & gas, and manufacturing sectors in Singapore.

Please click here for more information about this author.

ESR-REIT  0.510 -0.010 -1.92%   
Business: REIT established with the objective of investing in real estate assets used mainly for industrial purposes.

Insight: Jan-19, FY18 gross revenue rose 43% and NPI rose 4... Read More
Metro Hldgs  0.965 +0.005 +0.52%   
Business: Invests in property & manages retail businesses. [FY19 Turnover] Retail (80.3%), property (19.7%).

Insight: May-19, FY19 revenue rose 26.1% as the property di... Read More
Noel Gifts Int'l  -- -- --   
Business: Co is engaged in mktg of gifts, ppty invs and devt, and the op of a franchise program.

Insight: Feb-19, 1H19 revenue slid 17.7% mainly due to decr... Read More
Roxy-Pacific Hldgs  0.380 -0.005 -1.30%   
Business: Co invests in, develops, and sells residential and commercial, and hospitality properties. [FY18 Turnover] Property development (56.5%), hotel ownership (37.6%), property investment (5.9%).

Insight: Feb-19, FY18 revenue fell 46.2% to $132.9m due to ... Read More
Singapore Technologies Engineering  4.120 +0.01 +0.24%   
Business: An integrated engineering group providing solutions & services across many sectors. [FY18 Turnover] Aerospace (39.5%), electronics (32%), land systems (19.1%), marine (8.6%), others (0.8%).

Insight: May-19, 1Q19 revenue rose 5.1% to $1.7b attributed... Read More
Singapore Myanmar Investco  0.110 -- --   
Business: Co is an investment and management company focused on Myanmar. [FY18 Turnover] Travel and fashion retail (61.2%), construction services (21.6%), auto services (9.9%), F&B (4.2%), discontinued and others (3.1%).

Insight: Feb-19, 9M19 revenue fell 3.4% to US$17.6m mainly ... Read More
TPV Technology  0.640 +0.005 +0.79%   
Business: Co designs, manufactures, and distributes computer monitors, flat TV products, and other display products. [FY18 Turnover] Monitors (55.5%), TVs (39.9%), others (4.6%).

Insight: May-19, 1Q19 revenue fell 8.6% to US$2b due to low... Read More
United Overseas Bank  24.990 -0.16 -0.64%   
Business: [FY18 Turnover] Group retail (43.3%), group wholesale (43.2%), global markets & investment management (5.1%), others (8.4%).

Insight: May-19, 1Q19 total income rose 7.8% to $2.4b due t... Read More

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