Company Briefs: Singapore Exchange

Singapore Exchange

Total securities market turnover value on the Singapore Exchange grew 3 per cent last month compared with September.

It grew 6 per cent year on year to $23.1 billion. The period involved was 22 trading days compared with 21 in October last year.

The securities daily average value fell 7 per cent month on month but increased 1 per cent year on year to $1 billion.

On exchange-traded funds, the market turnover value was $270 million, up 19 per cent month on month and 30 per cent year on year.

There were 22 new bond listings, raising $13 billion. The total market capitalisation value of 769 listed companies stood at $930.6 billion at the end of last month.

Global Logistic Properties

Global Logistic Properties (GLP) said that the firm, along with fellow investors, has completed a US$4.55 billion (S$6.39 billion) purchase of a portfolio of properties in the United States. The portfolio, across 20 major US markets, comprises 57.9 million sq ft of space, and boosts GLP's US footprint by 50 per cent.

GLP said the portfolio would come under the umbrella of a new entity, GLP US Income Partners II. Its fellow investors include China Life and two major global institutional investors. More investors are expected to come on board later.

Mr Ming Z. Mei, GLP chief executive, said: "This transaction is in line with our growth strategy of expanding into the best logistics markets internationally via our fund management platform."

Eu Yan Sang

A subsidiary of Eu Yan Sang International, Healthy Life Group (HLG), has signed a memorandum of understanding with Venture Integrity Health (VIH) in Australia.

The plan is for HLG to take an option to acquire seven of VIH's health-food retail stores in the Greater Sydney area. The proposed merger will be made through a combination of cash and shares of HLG and is scheduled to be finalised in 2016-2017.

The proposed merger is expected to fast-track the improvement of Eu Yan Sang's Australian operations. VIH's stores are located in well-known, high-traffic areas such as Haymarket, Ashfield, Wynard and The Corso at Manly. This acquisition is expected to bring HLG's company-operated stores to 54, of which 33 are located in the Greater Sydney area.

A version of this article appeared in the print edition of The Straits Times on November 06, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe